Michigan retirees are set to receive a 2.8% cost of living increase to Social Security in January, but they can expect much of that — maybe all of it — to be wiped away by increases to Medicare costs.

"On average, Social Security retirement benefits will increase by about $56 per month starting in January," the U.S. Social Security Administration said in an Oct. 24 release .

On Friday, Nov. 14, however, retirees were told the standard monthly premium for Medicare Part B will increase $17.90 per month to $202.90 for 2026. In addition, recipients will have to pay more out of pocket as the annual deductible for beneficiaries increases to $283 in 2026, up $26.

On average, the $56 cost-of-living adjustment in monthly Social Security retirement benefits could end at about $38 for many

See Full Page