Senior Benefit Assistance is a licensed Medicare agency. This guide was written by our licensed agents in October 2026 to explain what the 2027 Social Security raise means if you are on Medicare.
The announcement landed on October 14: Social Security benefits go up 3.6 percent for 2027. That's a bigger raise than this year's 2.8 percent, the largest cost-of-living adjustment (COLA) in four years.
On average, retirement benefits rise by about $75 a month. Nearly 72 million people will see the increase in their January 2027 payments. If you receive Supplemental Security Income (SSI), your increase starts a day early, December 31, 2026, and about 7.3 million SSI recipients are included.
A raise is good news. If you're on Medicare, though, the number that lands in your bank account depends on one more announcement that hasn't happened yet.
The missing piece: your 2027 Part B premium
Most Medicare members have their Part B premium deducted straight out of their Social Security check. The premium for 2027 is set separately by Medicare, and it hasn't been announced yet. It typically comes later in the fall.
That means your actual monthly check will rise by less than the full 3.6% once any higher Part B premium is deducted. How much less depends on the premium Medicare announces.
One protection is worth knowing: for most people who have their premium deducted from their check, a federal "hold harmless" rule means a Part B increase can't make your Social Security payment go down from one year to the next. It can absorb part of your raise, but for most beneficiaries it can't erase it and then some. (A few exceptions apply: for example, people paying income-related premium surcharges, people enrolling in Part B for the first time, and people whose premiums are paid by Medicaid.)
So the honest answer to "how much more will I get?" is: you'll know exactly when Medicare publishes the 2027 premium, and your personal COLA notice will show your own numbers.
Your COLA notice: where and when
Social Security is sending a simplified, one-page COLA notice with your exact new benefit amount and any deductions.
- Online first: if you have a my Social Security account, you can view your notice starting in late November, up to three weeks before the paper copy. To get it online, create the account and choose paperless notices by November 18.
- By mail: paper notices go out during December.
Read it when it comes. It's the one document that converts the 3.6% headline into your actual dollars.
What the raise does and does not change about Medicare
The COLA raises your Social Security income. It does not change your Medicare plan's costs. Your copays, deductible, drug tiers, and out-of-pocket maximum for 2027 are whatever your plan's Annual Notice of Change (ANOC) said they are, which is why the timing matters:
The Annual Enrollment Period opened October 15 and runs through December 7. This is your window to compare your 2027 costs against every other plan available to you, using your actual prescriptions and doctors. A bigger Social Security check doesn't make an ill-fitting plan fit better, and a plan that returns part of your Part B premium or trims your drug costs puts more of that raise in your pocket than one that doesn't. Compare on total yearly cost, not headlines.
Two more notes for members who get help with costs:
- Extra Help (Low-Income Subsidy) and Medicare Savings Programs are based on income and resource limits that are updated each year. If your income sits near a cutoff, a COLA-sized change can matter in either direction, so it's worth a fresh eligibility check during AEP rather than assuming last year's answer still holds.
- SSI recipients: your federal payment rises with the same 3.6%, effective with the December 31 payment.
The 15-minute version
- 3.6% is official: average retirement benefit up about $75/month, starting January 2027 (SSI: December 31, 2026).
- Your net raise depends on the 2027 Part B premium, announced separately later this fall. Most members are protected from a net check decrease by the hold-harmless rule.
- Watch for your one-page COLA notice: online in late November (paperless by November 18) or by mail in December.
- AEP opened October 15 and runs through December 7. Use the window to review your plan's 2027 terms against your prescriptions and doctors, because that's the part of your 2027 money you actually control.
Sources: Social Security Administration news release, "Social Security Announces 3.6 Percent Benefit Increase for 2027" (October 14, 2026), ssa.gov; Medicare.gov (Annual Enrollment Period, October 15 – December 7). The 2027 Part B premium had not been published as of this writing.