#social-security

#social-security

Part B premiums increased to $202.90 in 2026, which is a 9.7% increase from the $185 that premiums cost in 2025. Orman specifically warned Social Security retirees about this because the big increase in Medicare insurance costs in 2026 would mean that the Cost of Living Adjustment (COLA) applied to seniors' retirement checks this year would be substantially reduced by the added premiums they now have to pay.

Many of the [low-income earners] that I've talked to really want me to sit down and explain how it worked for them, because they've just been excluded from a system like this for their whole careers. They want to know what the catch is.

The widows and widowers of deceased Social Security recipients are generally eligible for survivor benefits. In some cases, even ex-spouses can qualify. To qualify, you must: Be 60 years old or older (or 50 and older if you have a qualifying disability) Have been married for at least nine months before the recipient's death Have not remarried before age 60 (or 50 for those on disability)

Many retirees find Social Security covers essentials but not much more. Rising costs create pressure-inflation measured by the Consumer Price Index has increased the cost of living while healthcare expenses have climbed significantly. This financial squeeze explains why people who claimed benefits early often continue working to supplement income, even though doing so triggers withholding rules they didn't anticipate. Social Security doesn't prohibit working while collecting benefits.

The Social Security Old-Age and Survivors Insurance (OASI) Trust Fund, which is where retirement benefits are paid from, only has enough reserves to pay 100% of scheduled benefits through 2033. Once the OASI Trust Fund is depleted, retirement benefits could face a 23% cut. The Social Security Disability Insurance (DI) Trust Fund, meanwhile, can pay 100% of scheduled benefits on its own through at least 2099.