AARP estimates Social Security’s 2027 cost-of-living adjustment at 3.6%, but Medicare Part B premiums may erode it. The monthly premium is projected to rise from $202.90 in 2026 to $218.60 in 2027, so a $50 monthly benefit increase would net $34.30 after premiums.
The Social Security Administration is due to announce the official 2027 adjustment on Oct. 14, after third-quarter Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) data are available. AARP’s forecast uses year-to-date CPI-W trends; if confirmed, it would exceed 2026’s 2.8% increase and be the largest since 2023’s 8.7% COLA.
Higher-income beneficiaries pay extra under IRMAA: 2027 Part B premiums are projected at about $306 a month for single filers with incomes of $109,001–$137,000 and $743.20 for those above $500,000. The Senior Citizens League estimates Social Security benefits have lost 20% of their buying power since 2010. Moneywise says the CPI-W formula may not fully account for the inflation retirees experience.
