2026 Social Security Benefits: What You Need to Know

Social Security Benefits to Increase in 2026, But Not All Is Good NewsThe Social Security Administration is sending out statements detailing expected 2026 benefits, with an average increase of fifty-six dollars per month. However, this boost may be countered by a new tax deduction for seniors and higher Medicare Part B premiums. A new senior bonus deduction, up to six thousand dollars, aims to reduce taxes on Social Security benefits, but it phases out for higher income levels. Medicare Part B premiums are set to jump by nearly ten percent, which may not be fully offset by cost-of-living adjustments for some beneficiaries. Beneficiaries have until December seventh to review and change their Medicare coverage during the open enrollment period.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.