What's changing with Social Security in 2026 — from COLA raises to Medicare costs

Core Points - Social Security is a crucial financial support system for nearly 74 million older Americans, with many relying on it for their daily expenses [1][2] - The program is primarily funded through payroll taxes, and qualification rules will remain unchanged in 2026 [2][3] - Beneficiaries can expect an increase in monthly payments due to a 2.8% cost-of-living adjustment, translating to approximately $60 more per month in 2026 [6][7] Eligibility and Benefits - Individuals must be at least 62 years old to enroll, with full benefits available at ages 66 or 67, depending on birth year [3][4] - Monthly benefits typically range from $800 to $3,000, influenced by income and filing age [4][5] - Supplemental Social Security is available for low-income individuals earning less than $2,000 a month, while Social Security Disability provides support for those unable to work due to disability [5] Cost-of-Living Adjustments - The 2.8% increase in benefits for 2026 is based on inflation data from the third quarter, reflecting a trend of adjustments tied to the consumer price index [6][8] - Previous years saw higher percentage increases during the pandemic, but adjustments have stabilized around 2% to 3% since 2023 [8]