January Social Security checks: 2026 benefits rise 2.8%

Many Social Security beneficiaries will soon receive their first benefit checks for 2026.

Jan. 14 marks the earliest date beneficiaries can receive January payments, depending on the Social Security Administration’s schedule based on date of birth.

Those checks will include a 2.8% benefit boost, thanks to a cost-of-living adjustment for 2026 that was announced in October.

This year, beneficiaries will see higher premiums for Medicare Part B medical insurance that may take a bite out of those checks. The standard Part B premium is climbing to $202.90 per month — a $17.90 or 9.7% increase over 2025.

Here’s what Social Security beneficiaries should watch for, and when they can expect their first 2026 check.

The 2.8% Social Security cost-of-living adjustment for 2026 will increase retirement benefits by about $56 per month on average, the Social Security Administration said in October.

The increase is higher than the 2.5% benefit boost beneficiaries saw in 2025. Yet it is below the 3.1% average COLA beneficiaries have seen over the past decade.

To be sure, how much of a boost beneficiaries see depends on the size of their current benefits. To get the biggest benefit checks in retirement, experts generally recommend individuals hold off on claiming for as long as possible, up to age 70.

Social Security beneficiaries may also benefit from a new senior deduction in President Donald Trump’s “big beautiful bill,” which is aimed at curbing the taxes they pay on benefits through 2028. But that doesn’t mean they won’t pay federal taxes on benefits, depending on their income levels.

Beneficiaries may choose to withhold taxes from their Social Security benefits to anticipate those tax liabilities.

Premiums associated with Medicare Part B, which covers medical and preventive services, are increasing in 2026.

That may affect just how much of the 2.8% Social Security cost-of-living adjustment beneficiaries see. Monthly premiums for Medicare Part B are often deducted directly from monthly checks.

A hold harmless provision makes it so beneficiaries cannot have their Medicare Part B premiums increase more than their Social Security cost-of-living adjustment.

The standard Medicare Part B premium has increased to $202.90 per month in 2026, up from $185 per month in 2025 — a $17.90 or 9.7% increase. That premium rate applies to beneficiaries with modified adjusted gross income less than or equal to $109,000 for individual tax filers, or less than or equal to $218,000 for married couples who file jointly.

Individuals and couples with higher income levels pay higher premium rates, known as income-related monthly adjustment amounts, which affect about 8% of Medicare Part B beneficiaries, according to the Centers for Medicare and Medicaid Services.

Income levels for the IRMAA are generally based on tax returns from two years prior.

Social Security beneficiaries may also have premiums deducted from their monthly checks for Medicare Part D prescription drug coverage or private Medicare Advantage insurance.

“A lot of people don’t realize there can be considerable savings on the pharmacy you use,” said Mary Johnson, an independent Social Security and Medicare policy analyst, who recently helped one family save $600 per month on routine medications by switching to a mail-order pharmacy.

Current Medicare Advantage enrollees now have the option to potentially save money by switching plans during an open enrollment period that lasts through March 31.

Certain new policies may help Social Security beneficiaries keep more of their money. The new senior deduction of up to $6,000 will help offset federal taxes on benefits at tax time. Meanwhile, the first 10 prescription drugs subject to Medicare price negotiations went into effect on Jan. 1 and may save some retirees more than 50% this year, according to the AARP.

About 75 million Social Security and Supplemental Security Income beneficiaries will benefit from the 2.8% cost-of-living adjustment for 2026, according to the Social Security Administration.

Almost 7.5 million individuals who rely on SSI began receiving their checks as of Dec. 31, according to the agency.

Certain individuals may have received payments on Jan. 2, such as those who receive both Social Security and SSI benefits, or beneficiaries who started Social Security before May 1997.

The remaining Social Security beneficiaries are scheduled to be paid based on their date of birth.

Individuals born on the 1st through 10^th of their birth month will be paid on the second Wednesday of each month. Their first checks for the year are scheduled for Jan. 14.

People born on the 11^th through 20^th of their birth month are scheduled to receive their checks on the third Wednesday of every month. Their first checks for 2026 will be on Jan. 21.

Those born on the 21^st through 31^st of their birth month are slated to be paid on the fourth Wednesday, with their checks arriving on Jan. 28.