The average Social Security check rises by about $75 a month in January 2027, thanks to the 3.6% cost-of-living adjustment. That sounds like real money, and it is — until Medicare takes its share.
If you have Part B deducted from your benefit, the premium is projected to rise $6.60 a month, to $209.50. So the typical retiree ends up about $69 a month better off, not $75. And even that $209.50 is still only a projection. The Centers for Medicare & Medicaid Services has not announced the official 2027 premium yet, so the final number could still move a little.
Here is the math, the parts that are already final, and the date you will know your exact January amount.
The math on the average check
The Social Security Administration announced the 3.6% COLA on October 14, 2026. For the average retired worker, the monthly benefit goes from about $2,095 to about $2,170 — an increase of roughly $75.42, or just over $900 across the year.
Now subtract the projected Part B rise: $209.50 minus $202.90 is $6.60. That leaves a net gain of about $68.80 a month, call it $69, before any Part D premium or income-related surcharge.
The picture is tighter for smaller checks. On a $1,000 monthly benefit, 3.6% is $36, so after the projected Part B rise the net gain is $29.40. On a $1,500 benefit it is $54 minus $6.60, or $47.40. The percentage is the same for everyone; the dollars are not.
SSI recipients get a different deal. The maximum federal SSI payment rises from $994 to $1,029 a month, up $35, and many SSI recipients have their Part B premium paid by Medicaid, so the premium rise does not come out of their check at all.
Part B is still a projection — CMS has not announced it
As of today, November 11, 2026, CMS has not announced the official 2027 Part B premium or deductible. Last year the announcement came on November 14, so it could land any day now.
The $209.50 figure comes from the 2026 Medicare Trustees Report, published June 9, 2026. The Trustees also project the annual Part B deductible rising from $283 to $292. Both numbers are estimates until CMS publishes the real ones.
Two things floating around online are wrong, so ignore them. One low-quality site claims the 2027 premium will be about $185 a month — that figure has no basis in any official source and contradicts the Trustees Report. And the final 2027 Physician Fee Schedule that CMS released on November 4–5 sets what doctors get paid; it is not the Part B premium announcement, even though some headlines make it sound like one.
What is already final: Part D
Unlike Part B, the 2027 Part D numbers are settled. CMS set them in its rate announcement on April 6, 2026: the base beneficiary premium is $41.33 a month, the maximum deductible rises from $615 to $700, and the out-of-pocket cap rises from $2,100 to $2,400.
That cap matters more than the premium for people on expensive drugs. Once you hit $2,400 in out-of-pocket spending in 2027, you pay nothing more for covered Part D drugs for the rest of the year. If your current plan is ending or its premium jumped, Medicare open enrollment runs through December 7, 2026 — changes take effect January 1.
Higher earners pay more on top
If your income is above a threshold, you pay an income-related monthly adjustment amount, or IRMAA, on top of the standard Part B premium, plus a surcharge on Part D. The thresholds are based on your tax return from two years earlier, so your 2025 return decides your 2027 surcharge.
The 2027 thresholds have not been officially published either, but projections put the first tier at about $112,000 of modified adjusted gross income for a single filer and about $224,000 for a married couple filing jointly, up from $109,000 and $218,000 in 2026. A one-off high-income year in 2025 — a big Roth conversion, a property sale — can cost you in 2027 even if your income has since fallen. If a life event like retirement or a spouse’s death cut your income, you can ask Social Security to use more recent income by filing Form SSA-44.
The hold-harmless rule protects your check
There is one piece of good news built into the law. For most people who have Part B deducted from Social Security, the premium increase cannot push your check below what it was the year before. The rise is capped at your COLA dollar increase.
That means nobody’s January check should be smaller than December’s because of Part B. But it also means the COLA can be nearly wiped out for people with very small benefits: if your COLA is only $30 and Part B rises $6.60, you keep $23.40 of it. The protection stops your check from shrinking; it does not stop Medicare from taking a slice of the raise.
When you will know your exact number
Your COLA notice, with your exact 2027 benefit and your 2027 Part B premium, appears in your my Social Security account’s Message Center in late November, and paper notices go out in December. That is the number to trust — not the projection, and not a headline.
The first January checks land on January 13, 20 and 27, depending on your birthday, with the SSI and pre-May-1997 group paid early on December 31. If your deposit looks wrong, wait three business days before calling Social Security; the December 31 payment covers January, so do not mistake it for a bonus.
FAQ: January 2027 Social Security check
- How much will my Social Security check rise in January 2027? — Benefits rise 3.6%. The average retired worker’s check goes from about $2,095 to about $2,170 a month, roughly $75 more, before Medicare premiums are deducted.
- Has the 2027 Medicare Part B premium been announced? — No. As of November 11, 2026, CMS has not announced it. The Medicare Trustees project $209.50 a month, up $6.60 from $202.90, but the official figure could differ slightly.
- What is my net increase after Part B? — For the average retiree, about $69 a month after the projected Part B rise, before any Part D premium or IRMAA surcharge. On a $1,000 benefit the net gain is about $29.40.
- Can Medicare take my whole COLA? — No. The hold-harmless rule means the Part B increase cannot cut your Social Security check below last year’s amount. But it can take a slice of the raise, especially on smaller benefits.
- When will I know my exact January amount? — Your COLA notice appears in your my Social Security account in late November, with paper notices in December. First January payments arrive January 13, 20 or 27 by birthday.