According to AARP, retirees and Social Security Disability Insurance (SSDI/Supplemental Security Income (SSI) recipients should expect a Cost of Living Adjustment (COLA) of approximately 3.6 percent for the upcoming year. This would be the largest increase since 2023, when benefits went up 3.2 percent.
COLA increases are based on price changes for a selection of goods and services typically purchased by working individuals. Substantial increases in the cost of gas and heating fuel are driving the high increase predicted for 2027. AARP noted, however, that for senior citizens and the disabled, who utilize more medical services than the average worker, the projected COLA may not be sufficient.
Bill Sweeny, AARP’s senior vice president for government affairs noted: “Those folks (seniors and the disabled) are constantly telling us they are really struggling to make ends meet.”
Seniors and SSD beneficiaries who are on Medicare will also see Part B premiums increase $6.60, bringing the total cost to $209.50. This increase is due to the current administration ending a Biden-era subsidy to health care supplement insurers that was aimed at minimizing the cost of Part B for those on Medicare.
At Jeffrey Freedman Attorneys PLLC, we provide free consultations for anyone seeking advice on pursuing an SSDI or Supplemental Security Income case. Contact us for a case review below or call 1-800-343-8537.
