Get ready for your first Social Security check of 2026! It's an exciting time, but also a time to be prepared and informed. Here are two key things to keep in mind as you navigate this new year of benefits.
A Little Extra, but Not Enough?
First, all Social Security beneficiaries will see a 2.8% increase in their benefits, known as the Cost-of-Living Adjustment (COLA). This means your monthly retirement income will get a small boost, but it might not be as significant as you'd hoped. For the average retiree, this could mean an extra $56 per month, which might not cover all your expenses. It's important to review your budget and see if this increase is enough to cover your costs, or if you need to explore other options.
But here's where it gets controversial... Some argue that this COLA is not enough to keep up with the rising costs of living, especially with the increasing premiums for Medicare Part B. So, while you're getting a little extra, it might not feel like enough.
Medicare Premiums: A Bigger Bite
Now, let's talk about Medicare Part B premiums. These premiums are deducted directly from your Social Security checks for most beneficiaries. In 2025, the premium was $185 per month, but it's increasing to $202.90 in 2026. That's a difference of $17.90, which might not seem like much, but it adds up over time. For some, this increase could outweigh the benefits of the COLA.
However, there's a hold harmless provision in place, which means your Social Security benefit won't decrease due to the Part B premium increase. So, while your check might not grow, at least it won't shrink either.
When to Expect Your Check
The first Social Security checks of 2026 will be distributed on four different dates in January. Most people will receive their checks on the second, third, or fourth Wednesday of the month, depending on their birth year. For example, if you were born between the 1st and 10th, your check will arrive on January 14th. If you're an SSI beneficiary or started claiming Social Security before May 1997, you'll typically get your check on the 3rd of each month, but since January 3rd is a Saturday, you'll receive it on January 2nd instead.
And this is the part most people miss... There's a potential bonus of up to $23,760 that many retirees overlook. It's a little-known strategy to maximize your Social Security benefits, and it could provide a significant boost to your retirement income. It's an easy trick, but one that not many are aware of.
So, as you prepare for your first Social Security check of 2026, keep these things in mind. And remember, there are strategies and secrets out there that could help you make the most of your benefits. Are there any thoughts or questions about these changes? Feel free to share your thoughts in the comments below!
