"This increase will make 2026 the fifth consecutive year that recipients of Social Security have seen their payouts climb by at least 2.5%, which is a streak that the country hasn't seen since the late 1980s. By all accounts, this sounds really good on paper, as the average worker's monthly benefit should rise about $56, bringing the average Social Security check to approximately $2,065."
"By all accounts, this sounds really good on paper, as the average worker's monthly benefit should rise about $56, bringing the average Social Security check to approximately $2,065. Unfortunately, there is something that should have millions of Americans concerned: this number looks good in headlines, but with rising costs for healthcare and housing going up, this small COLA gain might not account for much for millions. In fact, it may not do enough to combat these rising costs, especially those in the medical area."
Social Security beneficiaries will receive a 2.8% cost-of-living adjustment in 2026, following a slight delay due to the government shutdown. The average monthly benefit is projected to increase by about $56, bringing the typical payment to roughly $2,065. This marks the fifth straight year of increases of at least 2.5%, a streak not seen since the late 1980s. Rising costs for healthcare and housing threaten to erode the small COLA gain for many recipients. Medicare Part B premiums are expected to rise, which could further reduce net benefits for retirees and deepen financial strain.
Read at 24/7 Wall St.
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