Update, October 14, 2026: Social Security has announced a 3.6% raise for 2027. The estimates below were written before the announcement. For the official figures and what to do next, read your 2027 Social Security raise: what the 3.6% COLA means.
The short answer: Social Security will announce the 2027 cost-of-living adjustment (COLA) on Wednesday, October 14, 2026, at 8:30 AM Eastern. Experts expect a raise of about 3.2% to 3.6%. Your new amount starts with your January 2027 benefit. Medicare premiums often go up at the same time, so your take-home raise may be smaller than the headline number.
What Is a COLA?
A COLA is a yearly raise in Social Security benefits meant to keep up with rising prices. It is based on inflation figures for the third quarter of the year (July, August and September). The figure is announced when the government releases the September inflation report.
What to Expect for 2027
- Announcement: Wednesday, October 14, 2026, at 8:30 AM Eastern, on ssa.gov and in the news.
- Estimates: Forecasts range from about 3.2% to 3.6%. These are estimates, not the official number.
- For comparison: The 2026 COLA was 2.8%.
- Dollar value: The average retired worker received about $2,086 a month in mid-2026. A 3.6% raise would add roughly $75 a month for that average benefit. Your own amount depends on your benefit.
- When it starts: The raise shows up in your January 2027 benefit. Some people on SSI see theirs a few days earlier.
Why Your Check May Not Go Up As Much As You Hope
If you have Medicare Part B, the premium is usually taken straight out of your Social Security check. The Part B premium was $202.90 a month in 2026, and one government projection puts 2027 at about $209.50. That projection is not final. The official Part B amount is normally announced in the fall, so watch for it.
A higher premium takes a bite out of the raise. Your Part D drug plan costs may change too, and the yearly cap on covered drug costs rises to $2,400 in 2027. Read our guide to what is changing in Medicare for 2027, and use Open Enrollment (October 15 to December 7) to check that your plan still fits.
How You Will Find Out Your New Amount
- Online: Social Security usually posts your COLA notice in your free my Social Security account in early December. You can create one at ssa.gov.
- By mail: If you do not use the online account, you will get a letter. Keep it. It shows your new gross amount, your Medicare deduction and your net deposit.
- Direct deposit: Social Security is moving away from paper checks. If you still get one, read how to switch to direct deposit.
Florida-Specific Notes
- No state income tax: Florida does not tax income, so your Social Security is not taxed by the state.
- Federal tax: Some people pay federal tax on part of their benefits. The income levels that trigger this are not adjusted for inflation, so a bigger COLA can push more people over them. A tax professional can tell you where you stand.
- Property taxes: Homeowners should also read about Florida Amendment 3 and the homestead exemption on the November ballot.
If Your Income Is Tight
A COLA does not fix every budget. Several programs can help with Medicare costs, food, utilities and more:
- Medicare Savings Programs: In Florida, these can help pay the Part B premium for people with limited income and resources. Apply through the Florida Department of Children and Families, or ask a SHINE counselor. See how to get free Medicare help from SHINE.
- Local programs: Browse the senior assistance programs page and the senior benefits page.
- Florida Elder Helpline: 1-800-96-ELDER (1-800-963-5337) can point you to your local Area Agency on Aging.
- More background: Read tackling senior poverty in Florida and financial planning for Florida seniors.
Watch Out for COLA Scams
Scammers love COLA season. Social Security will not call to say you must "confirm" your raise, ask you to pay to receive it, or threaten to stop your benefits. Never give your Social Security number, bank details or a gift card number to a caller. If something feels off, hang up and call Social Security directly at 1-800-772-1213. Read more in our scam alert for Florida seniors. To report a scam in Florida, call the Attorney General at 1-866-9NO-SCAM (1-866-966-7226).
Quick Checklist
- Mark October 14 on your calendar and check ssa.gov for the official COLA.
- Create or log in to your my Social Security account before December.
- Check your 2027 Medicare plan during Open Enrollment (October 15 to December 7).
- Update your monthly budget once you see your January amount.
Disclaimer: This article is for informational purposes only and does not constitute medical, financial, or legal advice. Readers should consult a qualified healthcare provider for medical concerns, a financial advisor for financial planning, and an attorney for legal matters. The resources and programs mentioned are subject to eligibility requirements and availability, which may vary. While we strive for accuracy, the information provided may not reflect the most recent updates. Always verify details with official sources or professionals before making decisions based on this content.