For millions of Americans, Social Security isn’t just a benefit—it’s a lifeline. Each year, the Social Security Cost-of-Living Adjustment (COLA) determines how much those monthly checks increase to help retirees, widows, and people with disabilities keep up with inflation.
The 2026 COLA increase has now been announced, and while any increase is welcome news, many seniors are concerned about whether it’s enough to cover rising costs in healthcare, housing, and everyday living.
What Is the 2026 COLA Increase?
According to a recent report from WTHR and the Social Security Administration, Social Security recipients will receive a 2.8% Cost-of-Living Adjustment in 2026.
That means the average Social Security check—currently around $1,900 per month—will increase by about $56 starting in January 2026.
While this is a modest boost compared to recent years, it reflects cooling inflation after several years of higher-than-average adjustments.
What This Means for Seniors
A 2.8% increase may sound encouraging, but for many retirees, it barely offsets the growing costs of:
- Healthcare and prescription drugs
- Home maintenance and property taxes
- Utilities and grocery prices
- Long-term care or assisted living
Even a small increase can be quickly absorbed by Medicare premium adjustments or new medical expenses. That’s why it’s more important than ever for seniors to take a proactive approach to financial and legal planning.
Tips for Indiana Seniors Managing on Fixed Income
Here are a few steps to help stretch your Social Security income and prepare for future changes:
1. Review Your Budget
Track your monthly expenses to see where costs are creeping up. Many retirees find that subscription services, insurance premiums, and energy costs rise quietly each year.
2. Understand Medicare and Medicaid Options
Medicare covers healthcare, but not long-term care. For seniors worried about future nursing home costs, Medicaid planning can help protect your home and savings. Vick Law in Greenwood helps families prepare for these expenses before a crisis hits.
3. Make Sure Your Estate Plan Is Current
As financial conditions change, your estate plan should too. Review your will, powers of attorney, and healthcare directives regularly to ensure they still reflect your needs and wishes.
4. Consider Inflation-Protected Investments
Speak with your financial advisor about conservative ways to preserve your purchasing power—especially as living costs continue to fluctuate.
5. Don’t Delay Legal or Financial Planning
Even modest changes in Social Security benefits can impact your long-term financial strategy. Early planning gives you more control and fewer surprises.
How Vick Law Can Help
At Vick Law, 3209 W. Smith Valley Rd., Suite 113, Greenwood, IN 46142, we help seniors and their families navigate the financial and legal challenges that come with aging.
Our services include:
- Estate Planning – Wills, trusts, and advance directives to protect your legacy and reduce stress for loved ones.
- Elder Law – Helping seniors make informed decisions about care, housing, and healthcare.
- Medicaid Planning – Protecting your home and savings from long-term care costs while maintaining eligibility for benefits.
We understand the realities of living on a fixed income—and we’re here to help you make the most of what you’ve worked hard to earn.
Call Vick Law today at 317-884-3133 or click HERE to schedule a consultation and learn how we can help you plan with confidence for the future.
Key Takeaways:
- Social Security benefits will increase by 2.8% in 2026, about $51 more per month on average.
- Rising costs in healthcare and housing may still outpace the COLA increase.
- Planning now—through estate and Medicaid strategies—helps protect your financial security.
Reference:
WTHR (Oct. 17, 2025). “Social Security cost-of-living adjustment for 2026 revealed.”
