The 2027 Social Security cost-of-living adjustment (COLA) is forecast at around 3.5%, which would raise the average $1,997 monthly payment by about $70. Higher benefits could push some retirees' income above IRMAA thresholds, triggering surcharges on Medicare Part B premiums. In 2026, for example, single filers with MAGI between $109,000 and $137,000 paid an extra $81.20 per month, and joint filers with incomes between $218,000 and $274,000 paid the same amount. Medicare uses income from two years earlier, so higher 2027 income could raise premiums in 2029, and IRMAA applies in full once a threshold is crossed rather than phasing in. The article also warns that extra retirement-account withdrawals to cover costs can further increase MAGI.
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- The 2027 Social Security COLA Is Official . Here How Much the Average Retiree Check Will Rise
The Social Security Administration has set the 2027 cost-of-living adjustment (COLA) at 3.6%, up from 2.8% earlier this year. For the average retirement benefit of $2,088, that means about $75 more per month, or $900 a year. But rising Medicare Part B costs, which are deducted from benefits, would reduce that gain; a $10 increase would cut the typical COLA to $65. The article notes that the CPI-W used to set COLAs does not fully reflect seniors' costs, with benefits estimated to have lost 13.7% of buying power since 2016. It advises retirees to take steps beyond the COLA, such as cutting expenses or finding manageable part-time work.
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