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The Social Security Administration will announce the 2027 cost-of-living adjustment Oct. 14, but most beneficiaries enrolled in Medicare won’t keep the full raise. Their Part B premium, deducted automatically from monthly checks, is projected to climb to $ 209.50 next year.
The date coincides with the Bureau of Labor Statistics’ September inflation report. The increase is based on the average annual change in the consumer price index for urban wage earners and clerical workers from July through September.
The Senior Citizens League, an advocacy group, projects a 3.5% COLA, up from 2.8% in 2026. The index already registered 3.4% in July and 3.5% in August.
How much of your 2027 Social Security raise will Medicare take?
The 2026 Medicare Trustees Report projects the standard Part B premium could rise $ 6.60 a month, from $ 202.90. For beneficiaries who have it withheld, that amount comes off the raise before the payment is deposited.
A retiree receiving $ 2,000 a month would gain about $ 70 under a 3.5% COLA. After the projected premium increase, the net gain drops to roughly $ 63.
The figure is not final. The trustees’ previous report had put the 2027 premium at $ 218.60, and the Centers for Medicare & Medicaid Services typically confirms the official amount in November.
The annual Part B deductible is also expected to rise, from $ 283 to $ 292. The trustees project the premium will reach $ 224.50 in 2028.
Can the Medicare Part B premium shrink your Social Security check?
A federal hold-harmless rule bars the premium increase from lowering a beneficiary’s net Social Security payment below the previous year’s amount. It covers about 70% of Part B enrollees, though several groups are excluded:
- Beneficiaries who pay an income-related surcharge, which in 2026 applies above $ 109,000 for single filers and $ 218,000 for joint filers
- Beneficiaries new to Medicare or to Social Security payments
- Beneficiaries whose premiums are paid by state Medicaid programs
Beneficiaries outside that protection pay the full premium increase, regardless of how much their benefit rises.
Notices showing each person’s new net payment arrive in December and are also available through a my Social Security account.
Medicare open enrollment runs Oct. 15 to Dec. 7. It is the window to compare plans before 2027 costs take effect.