Social Security Checks Could See a Modest Boost in 2026 — But Will It Be Enough?
Written by b87fm on 09/12/2025
Millions of Americans who rely on Social Security may be in line for a slight raise next year, but many are already asking if the extra cash will keep up with the rising cost of living.
New estimates suggest the 2026 Social Security cost-of-living adjustment (COLA) will land between 2.7% and 2.8%. That bump would add about $54 a month to the average retirement check, which currently sits at $1,955.
The projected increase is higher than this year’s 2.5% raise but still well below the record-setting COLAs of recent years, like the 8.7% jump in 2023 that came after pandemic-driven inflation.
“Unless inflation stalls completely in September, we’re almost certain to see a 2.8% adjustment,” says Social Security analyst Mary Johnson.
But here’s the catch: many seniors say even with an increase, they’re still falling behind. Nationwide’s Retirement Institute found that over half of beneficiaries have already cut back on spending because rent, groceries, and healthcare are rising faster than their checks. Nearly two-thirds worry that new tariffs could drive prices even higher.
And Medicare isn’t offering much relief. The standard Part B premium is expected to climb by $21.50 a month in 2026 — one of the biggest jumps in the program’s history. Prescription drug coverage (Part D) could add up to another $50 a month.
Experts warn that retirees are uniquely vulnerable to inflation. Prices hit harder when you’re on a fixed income, and because COLAs are only adjusted once a year, there’s often a lag between what seniors pay at the store and what shows up in their checks.
“Inflation is retirees’ greatest enemy,” says Jean-Pierre Aubry of Boston College’s Center for Retirement Research. Still, he notes that those carrying mortgages may benefit slightly since inflation reduces the real value of their debt.
While 74% of seniors in Nationwide’s poll said they feel they can manage Social Security on their own, only one-third felt truly confident in their knowledge of the program. Financial advisors warn that closing that gap is key to stretching benefits as far as possible.
The Social Security Administration will announce the official 2026 COLA in October. For now, the big question is whether an extra $54 a month can keep pace with real life in an economy where rent, food, and healthcare just won’t stop climbing.
