2026 COLA vs. Medicare Hike: How Much of Your Raise Will You Actually Keep?

In 2026, Social Security benefits will rise by 2.8%, adding about $56 monthly, but Medicare Part B premiums will increase by 9.7% to $202.90, reducing the net benefit gain to around $38. The annual Part B deductible also rises to $283. The "hold harmless" rule protects some low-benefit recipients from premium hikes exceeding their COLA, but new enrollees, high earners, and those with separate premium deductions are not protected. Rising Medicare Advantage and Part D premiums add further financial strain.