As 2026 begins, retirees in Metropolis and across Southern Illinois will see several key adjustments to their Social Security and Medicare benefits. From a modest raise to a historic milestone in retirement age, here is everything you need to know for the year ahead.
1. The 2.8% Raise (COLA)
The Social Security Administration (SSA) has officially implemented a 2.8% cost-of-living adjustment (COLA) for 2026. This increase aims to help the 71 million beneficiaries keep up with the rising costs of groceries and fuel.
Average Increase: For most retired workers, the monthly check will rise by about $56.
Average Monthly Total: The typical retirement benefit has climbed from $2,015 in 2025 to $2,071 in 2026.
SSI Update: Those receiving Supplemental Security Income (SSI) saw their individual monthly maximum rise to $994.
2. The “Medicare Offset”
While benefits are going up, the amount you see in your bank account might be slightly less than expected. The Centers for Medicare & Medicaid Services (CMS) announced that Medicare Part B premiums—which are usually deducted directly from Social Security checks—have increased to $202.90 for 2026.
This is a $17.90 increase from last year. Effectively, this means about one-third of the average person’s Social Security raise will go toward paying for their Medicare coverage.
3. A Milestone for “1960 Babies”
This year marks the final stage of a decades-long plan to shore up the Social Security system. For anyone born in 1960 or later, the Full Retirement Age (FRA) is now officially 67.
If you turn 66 this year and were born in 1960, you will have to wait until your birthday in 2027 to claim 100% of your benefits. Claiming early at age 62 remains an option, but it results in a permanent reduction of up to 30% in your monthly payment.
4. Working While Retired
If you have started taking Social Security but are still working a part-time job, you can earn a bit more this year before your benefits are impacted:
Under Full Retirement Age: You can earn up to $24,480 per year. Social Security will withhold $1 for every $2 you earn above that limit.
Reaching FRA in 2026: In the months leading up to your 67th birthday, the limit is higher at $65,160.
Key 2026 Figures at a Glance
Sources:
Social Security Administration (SSA.gov), “Cost-of-Living Adjustment (COLA) Information for 2026.”
Centers for Medicare & Medicaid Services (CMS.gov), “2026 Medicare Parts A & B Premiums and Deductibles.”
AARP, “6 Big Social Security Changes for 2026.”
Stay tuned to WMOK 920 AM and 93.7 FM for more local news updates. Have a question or a story idea? Text the WMOK Text Line at (618) 524-9209.
Comments