Social Security update today: 2026 COLA locked at 2.8%, SSI payday shift this Friday, and Medicare 2026 costs on deck

Social Security heads into November with a confirmed 2.8% cost-of-living adjustment for 2026 and a near-term calendar quirk that moves the SSI payment to Friday, Oct. 31 (ET). While the COLA was finalized last week, today’s focus is practical: who gets paid this week, how the 2.8% flows into January checks, and what to expect from Medicare Part B when final 2026 figures arrive later this fall.

What the Social Security COLA means for your 2026 benefits

The 2.8% Social Security COLA applies to retirement, survivor, and disability benefits starting with January 2026 payments. SSI recipients see the COLA first because the January benefit is paid on the last business day of the prior month—this year, that’s Dec. 31, 2025.

Quick math on the COLA (illustrative averages, rounded):

• Retired worker: ~$2,015 → +$56 → ~$2,071

• Couple, both receiving: ~$3,120 → +$88 → ~$3,208

• SSDI worker: ~$1,600 → +$45 → ~$1,645

• SSI individual (federal max): ~$967 → +$27 → ~$994

Your actual amount varies based on earnings history, claiming age, and deductions (notably Medicare).

SSI payment timing this week

Because the first of the month falls on a weekend, SSI pays on the preceding business day. For November’s benefit, that’s Friday, Oct. 31 (ET). If you use direct deposit, expect funds to post by your bank’s normal processing window; prepaid cards and paper checks can vary by issuer and mail routing.

Payment timing at a glance (ET)

Schedules can vary for those who started benefits long ago, receive both SSI and Social Security, or live outside standard banking networks.

Medicare Part B 2026: what to watch

Final 2026 Part B numbers typically post in late fall. Current projections place the standard premium a little over $200/month with a modest increase in the annual deductible. Once official figures land, your net Social Security deposit may differ from the gross COLA because Part B is usually withheld from benefits. Higher-income brackets (IRMAA) also reset annually—watch for those tables alongside the premium announcement.

Tip: During fall open enrollment, compare plans and drug coverage. Tweaks to premiums, formularies, and out-of-pocket caps can offset some of the Part B impact.

Earnings test, wage base, and other 2026 adjustments

Several program thresholds shift each year alongside the COLA and average wage data:

• Earnings test: Annual limits adjust for inflation; if you work before full retirement age, benefits may be temporarily withheld above the limit.

• Taxable wage base: The maximum earnings subject to Social Security payroll tax rises again in 2026, affecting higher earners.

• Credits (quarters of coverage): The dollar amount per credit increases; most workers need 40 credits for retirement eligibility.

Official fact sheets will list the exact 2026 dollar amounts once published.

VA disability and other COLA-linked programs

VA disability compensation and certain survivor and military retiree benefits are set to rise by the same 2.8% in late December, reflecting the shared inflation yardstick. Program-specific pay charts will show the exact dollar values by rating and dependency status.

Action steps for Social Security recipients this week

1. Confirm your Friday SSI deposit. If you rely on SSI, check your bank or card portal for pending deposits tied to Oct. 31.

2. Review your online benefit letter. Your my Social Security account will display your projected 2026 amount once annual notices are issued, including any Medicare deductions.

3. Plan for January’s net deposit. Build a quick budget using your gross 2.8% increase minus the pending Part B premium.

4. Set alerts for the Part B release. Once final 2026 premiums and IRMAA brackets drop, revisit your plan choices before open enrollment closes.

What’s still developing

• The 2.8% COLA is finalized.

• Medicare Part B premium, deductible, and IRMAA brackets for 2026 are pending and could adjust your take-home amount.

• Payment schedules this week are firm, but individual posting times can differ by bank or card issuer.

Today’s Social Security picture is clear on the 2.8% 2026 COLA and the Friday SSI payment shift. Keep an eye out for the official Medicare Part B notice to understand how much of that COLA will land in your pocket starting in January.