2027 Social Security Raise: What We Know So Far
Social Security checks are going up next year. Earlier in October, a 3.6% cost of living adjustment was announced for 2027, the largest increase in a few years.(1) Social Security estimates that works out to about $75 more a month for the average retiree.(2)
Whether or not there’s an adjustment is determined each fall. Social Security looks at how much prices rose from July through September compared to the same period last year, and that difference becomes the adjustment.(3)
One thing to keep in mind: If you’re on Medicare, nobody can say exactly what your new total will be just yet. This is because your Part B premium (the part that covers doctor visits) likely comes out of your Social Security check before it reaches your account, and as of this writing, that premium hasn’t been announced yet.(4) The 2027 premium typically gets announced in the fall, often in November.(5)
So when will you know your number? If you have a Social Security account, you can see your exact 2027 amount online starting in late November, or watch your mail for a letter in December.(6) And regardless, the increase itself shows up in your January payment, you don't need to do anything to receive it.(7)
If you have any questions about what to expect next year, you can always check Social Security's website, ssa.gov, which has more details, and you can reach them by phone at 800.772.1213.(8) For questions about your Medicare premium, visit medicare.gov or call 800.633.4227.(9)
Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC (WFAFN), Member SIPC. Laurel Financial Group is a separate entity from WFAFN.
Information in this article is current as of October 20, 2026, and is based on publicly available sources from the Social Security Administration, the Centers for Medicare & Medicaid Services, and Medicare.gov. Figures, dates, and program details are subject to change. Please refer to those agencies directly for the most up to date information.
This material is intended for informational and educational purposes only and should not be construed as investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. Please contact your financial professional for more information specific to your situation.
1.) SSA announced a 3.6% COLA for 2027 on October 14, 2026; the most recent larger adjustment was 8.7% in January 2023 (2024: 3.2%, 2025: 2.5%, 2026: 2.8%). Social Security Administration, October 14, 2026 press release and COLA information page.
https://www.ssa.gov/news/en/press/releases/2026-10-14.html and
https://www.ssa.gov/news/en/cola/index.html
2.) The average retired worker's benefit is estimated to rise from $2,095 to $2,170 a month, about $75. Social Security Administration, 2027 COLA fact sheet. https://www.ssa.gov/news/en/cola/factsheets/2027.html
3.) The COLA is the increase in the average CPI-W, a Bureau of Labor Statistics price index, for July through September compared with the same quarter of the last year a COLA took effect; if there is no increase, there is no COLA. Social Security Administration, Office of the Chief Actuary, latest COLA calculation. https://www.ssa.gov/oact/cola/latestCOLA.html
4.) Most people have their Part B premium deducted automatically from their Social Security benefit, and Part B covers physicians' services. Medicare.gov, How to pay Part A and Part B premiums, and Centers for Medicare and Medicaid Services, 2026 Medicare Parts A and B premiums fact sheet. https://www.medicare.gov/basics/costs/pay-premiums
https://www.cms.gov/newsroom/fact-sheets/2026-medicare-parts-b-premiums-deductibles
5.) Recent Part B premiums were announced September 27, 2022 (2023 premium), October 12, 2023 (2024), November 8, 2024 (2025), and November 14, 2025 (2026). Centers for Medicare and Medicaid Services, Medicare Parts A and B premium fact sheets.
https://www.cms.gov/newsroom/fact-sheets/2023-medicare-parts-b-premiums-and-deductibles-2023-medicare-part-d-income-related-monthly,
https://www.cms.gov/newsroom/fact-sheets/2024-medicare-parts-b-premiums-and-deductibles,
https://www.cms.gov/newsroom/fact-sheets/2025-medicare-parts-b-premiums-and-deductibles,
https://www.cms.gov/newsroom/fact-sheets/2026-medicare-parts-b-premiums-deductibles
6.) COLA notices are available online starting in late November for those who create a my Social Security account and enroll in paperless notices by November 18; others receive a mailed notice in December. Social Security Administration, October 14, 2026 announcement. https://www.ssa.gov/blog/en/posts/2026-10-14.html
7.) The 3.6% COLA begins with Social Security benefits payable in January 2027 and is applied automatically. Social Security Administration, COLA information page. https://www.ssa.gov/news/en/cola/index.html
8.) Social Security's national number is 1-800-772-1213 (TTY 1-800-325-0778), 8 a.m. to 7 p.m. local time, Monday through Friday. Social Security Administration, Contact Social Security by phone. https://www.ssa.gov/agency/contact/phone.html
9.) Medicare's number is 1-800-633-4227 (TTY 1-877-486-2048), available 24 hours a day, 7 days a week except some federal holidays. Medicare.gov, Helpful tools. https://www.medicare.gov/basics/get-started-with-medicare/using-medicare/helpful-tools
Whether or not there’s an adjustment is determined each fall. Social Security looks at how much prices rose from July through September compared to the same period last year, and that difference becomes the adjustment.(3)
One thing to keep in mind: If you’re on Medicare, nobody can say exactly what your new total will be just yet. This is because your Part B premium (the part that covers doctor visits) likely comes out of your Social Security check before it reaches your account, and as of this writing, that premium hasn’t been announced yet.(4) The 2027 premium typically gets announced in the fall, often in November.(5)
So when will you know your number? If you have a Social Security account, you can see your exact 2027 amount online starting in late November, or watch your mail for a letter in December.(6) And regardless, the increase itself shows up in your January payment, you don't need to do anything to receive it.(7)
If you have any questions about what to expect next year, you can always check Social Security's website, ssa.gov, which has more details, and you can reach them by phone at 800.772.1213.(8) For questions about your Medicare premium, visit medicare.gov or call 800.633.4227.(9)
Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC (WFAFN), Member SIPC. Laurel Financial Group is a separate entity from WFAFN.
Information in this article is current as of October 20, 2026, and is based on publicly available sources from the Social Security Administration, the Centers for Medicare & Medicaid Services, and Medicare.gov. Figures, dates, and program details are subject to change. Please refer to those agencies directly for the most up to date information.
This material is intended for informational and educational purposes only and should not be construed as investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. Please contact your financial professional for more information specific to your situation.
1.) SSA announced a 3.6% COLA for 2027 on October 14, 2026; the most recent larger adjustment was 8.7% in January 2023 (2024: 3.2%, 2025: 2.5%, 2026: 2.8%). Social Security Administration, October 14, 2026 press release and COLA information page.
https://www.ssa.gov/news/en/press/releases/2026-10-14.html and
https://www.ssa.gov/news/en/cola/index.html
2.) The average retired worker's benefit is estimated to rise from $2,095 to $2,170 a month, about $75. Social Security Administration, 2027 COLA fact sheet. https://www.ssa.gov/news/en/cola/factsheets/2027.html
3.) The COLA is the increase in the average CPI-W, a Bureau of Labor Statistics price index, for July through September compared with the same quarter of the last year a COLA took effect; if there is no increase, there is no COLA. Social Security Administration, Office of the Chief Actuary, latest COLA calculation. https://www.ssa.gov/oact/cola/latestCOLA.html
4.) Most people have their Part B premium deducted automatically from their Social Security benefit, and Part B covers physicians' services. Medicare.gov, How to pay Part A and Part B premiums, and Centers for Medicare and Medicaid Services, 2026 Medicare Parts A and B premiums fact sheet. https://www.medicare.gov/basics/costs/pay-premiums
https://www.cms.gov/newsroom/fact-sheets/2026-medicare-parts-b-premiums-deductibles
5.) Recent Part B premiums were announced September 27, 2022 (2023 premium), October 12, 2023 (2024), November 8, 2024 (2025), and November 14, 2025 (2026). Centers for Medicare and Medicaid Services, Medicare Parts A and B premium fact sheets.
https://www.cms.gov/newsroom/fact-sheets/2023-medicare-parts-b-premiums-and-deductibles-2023-medicare-part-d-income-related-monthly,
https://www.cms.gov/newsroom/fact-sheets/2024-medicare-parts-b-premiums-and-deductibles,
https://www.cms.gov/newsroom/fact-sheets/2025-medicare-parts-b-premiums-and-deductibles,
https://www.cms.gov/newsroom/fact-sheets/2026-medicare-parts-b-premiums-deductibles
6.) COLA notices are available online starting in late November for those who create a my Social Security account and enroll in paperless notices by November 18; others receive a mailed notice in December. Social Security Administration, October 14, 2026 announcement. https://www.ssa.gov/blog/en/posts/2026-10-14.html
7.) The 3.6% COLA begins with Social Security benefits payable in January 2027 and is applied automatically. Social Security Administration, COLA information page. https://www.ssa.gov/news/en/cola/index.html
8.) Social Security's national number is 1-800-772-1213 (TTY 1-800-325-0778), 8 a.m. to 7 p.m. local time, Monday through Friday. Social Security Administration, Contact Social Security by phone. https://www.ssa.gov/agency/contact/phone.html
9.) Medicare's number is 1-800-633-4227 (TTY 1-877-486-2048), available 24 hours a day, 7 days a week except some federal holidays. Medicare.gov, Helpful tools. https://www.medicare.gov/basics/get-started-with-medicare/using-medicare/helpful-tools