Will Medicare recipients get a raise in 2023?
Yes, Medicare recipients who also receive Social Security got an 8.7% cost-of-living raise in 2023.
📈 2023 Benefits and Costs
- Social Security COLA: Increased by 8.7%, adding over $140 monthly on average.
- Medicare Part B Premium: Dropped by about 3% (from $170.10 down to $164.90 per month), providing extra relief.
- Part B Deductible: Fell to $226 in 2023 down from $233 in 2022.
Will people on Medicare get a raise in 2026?
Yes, Medicare premiums and deductibles increased for 2026, according to the Centers for Medicare & Medicaid Services (CMS). The standard monthly Part B premium rose by nearly 10%.
📈 Part B Cost Changes
- Standard monthly premium is $202.90.
- Annual deductible increased to $283.
- Higher income brackets face additional IRMAA surcharges.
🏥 Part A Cost Changes
- Inpatient hospital deductible rose to $1,736.
- Full monthly premium increased to $565.
- Most beneficiaries still pay $0 premium.
Are seniors going to get an extra $200 a month?
No, seniors are not currently getting an extra $200 a month, as the proposals have not passed into law.
Proposed Legislation
- Social Security Emergency Inflation Relief Act: Introduced by Senator Elizabeth Warren and other Democrats, this bill proposed a temporary $200-per-month boost for Social Security, SSI, and veteran beneficiaries. However, it has not been enacted.
- Social Security Expansion Act: Championed by Senator Bernie Sanders, this separate proposal (often called the "Bernie Bump") also aims to increase monthly benefits by $200 permanently, but remains pending legislation in Congress. You can read more about advocacy efforts for this measure via the Alliance for Retired Americans.
What You Need to Know
- There is no new $200 monthly payment to apply for or claim right now.
- Standard adjustments depend entirely on the official annual Cost-of-Living Adjustment (COLA) determined by the government.
How do you qualify to get $144 back from Medicare?
To get money back for your Medicare Part B Giveback Benefit, you must enroll in a specific Medicare Advantage plan that offers this specific reduction in your area.
How the Giveback Works
- Not a government check: The program is a private insurance perk from select Medicare Advantage (Part C) plans, not a direct cash refund or federal payout.
- Premium reduction: The plan reduces the amount taken out of your Social Security check for your Part B premium by a set dollar amount (which can be $144 or another specific figure depending on the plan).
- Location-based: The specific $144 amount and plan availability depend entirely on your local ZIP code and the private insurers operating there.
Requirements to Qualify
- Have Original Medicare (Parts A and B).
- Live in the service area of a Medicare Advantage plan that includes a Part B giveback benefit.
- Pay your own Part B premium directly (you do not qualify if Medicaid or a state program pays it for you).
- Enroll during an open enrollment period when a qualifying plan is available in your region.
How much will Medicare Part A premium be in 2026?
For the vast majority of beneficiaries (about 99%), the Medicare Part A monthly premium will be $0 in 2026. This premium-free status applies to anyone who has accumulated at least 40 quarters (10 years) of Medicare-covered employment or is married to someone who has.
If you do not meet the work history requirements, you can buy into the program. The Centers for Medicare & Medicaid Services (CMS) has set the 2026 Part A buy-in premiums as follows:
- $311 per month: For individuals with 30 to 39 quarters of Medicare-covered employment (a $26 increase from 2025).
- $565 per month: For individuals with fewer than 30 quarters of coverage and certain individuals with disabilities (a $47 increase from 2025).
Other 2026 Medicare Part A Out-of-Pocket Costs
While the premium is free for most, you are still responsible for deductibles and coinsurance if you are hospitalized:
- Inpatient Hospital Deductible: $1,736 per benefit period (covers days 1 through 60).
- Hospital Coinsurance (Days 61–90): $434 per day.
- Lifetime Reserve Days (Day 91+): $868 per day.
- Skilled Nursing Facility Coinsurance (Days 21–100): $217 per day.
The 2027 Social Security Raise Is Coming — But Medicare Could Eat Most of It
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What is the average Medicare payment for seniors?
Most seniors pay a standard Part B monthly premium of $202.90 and $0 for Part A in 2026.
Medicare Cost Breakdown
- Part A (Hospital Insurance): Costs $0 per month for roughly 99% of seniors who paid Medicare taxes for at least 10 years. The inpatient hospital deductible is $1,736 per benefit period.
- Part B (Medical Insurance): The standard monthly premium is $202.90, with an annual deductible of $283. Higher-income earners pay more through income-related adjustments (IRMAA).
- Part D (Prescription Drugs): Standalone prescription drug plans average about $34.50 per month, featuring a yearly out-of-pocket spending cap of $2,100.
- Supplemental Coverage: Adding a Medigap policy typically adds $150 to $220 per month, bringing total monthly out-of-pocket costs for Original Medicare plus drug and supplement coverage to roughly $388 to $458. Alternatively, many seniors choose Medicare Advantage (Part C) which often features a $0 additional premium.
What is Trump wanting to do with Medicare?
President Donald Trump announced a plan to send one-time $90 payments to more than 20 million seniors enrolled in Medicare to help offset their monthly Part B premiums.
Medicare Part B Rebate Payments
- The Announcement: Trump announced the $90 payments via social media, stating the money will be distributed in early October.
- Source of Funds: The payments are drawn from the federal Medicare Improvement Fund, utilizing approximately $2 billion allocated by Congress.
- Eligibility: Most Medicare Part B enrollees qualify, except for those whose premiums are already covered by Medicaid or who pay an Income-Related Monthly Adjustment Amount. Seniors with direct deposit will receive the funds electronically, while others will get a physical check by mail.
Broader Context and Policies
- Midterm Elections Timing: According to reporting by outlets like CNN Politics, the financial distribution arrives weeks before the November 3 midterm elections, following other proposed rebate announcements.
- Administration Goals: The White House stated that the action aims to directly lower out-of-pocket healthcare costs for seniors and utilize funds that previous administrations had not tapped.
Are senior citizens getting extra money this month?
No, senior citizens are not generally getting permanent extra money this month, but some Supplemental Security Income (SSI) recipients will receive two payments in October 2026 due to a calendar quirk.
October 2026 SSI Payment Schedule
- Two Checks: Because November 1 falls on a Sunday, the Social Security Administration (SSA) does not process payments on weekends.
- Dates: SSI recipients will get their regular payment on Thursday, October 1 (for September), and an early payment on Friday, October 30 (for November).
- No Extra Funds: Receiving two checks in one month means the second payment is just arriving early; it is not a bonus or extra money.
Other Recent Proposals and Adjustments
- No New Federal Stimulus: Rumors or social media claims regarding special one-time federal bonus checks or general extra stipends this month are inaccurate.
- Future Projections: The projected 2027 Cost-of-Living Adjustment (COLA) is estimated around 3.9%, but official increases do not take effect until January 2027.
Will seniors get a stimulus check in 2026 for Social Security?
No, seniors will not get a new federal stimulus check in 2026 for Social Security.
Current Social Security Updates for 2026
- No Stimulus Payments: There are no approved federal stimulus checks or special economic impact payments planned for Social Security recipients in 2026. Online rumors or social media videos discussing a "$5,000 dividend" or new stimulus checks are speculative or false.
- Cost-of-Living Adjustment (COLA): Beneficiaries received a 2.8% COLA increase starting in January 2026, which raised average retirement benefits by about $56 per month.
- Calendar Shifts: Certain months (like October 2026) feature double Supplemental Security Income (SSI) payments because the first of the month falls on a weekend, but this is just your regular monthly benefit arriving early rather than extra money.
- Senior Tax Deductions: Eligible seniors may qualify for an enhanced senior tax deduction under the Working Families Tax Cuts provisions, but this is managed through tax filing rather than a direct stimulus deposit.
How do seniors get extra money?
Seniors can get extra money or free up cash by claiming special tax deductions, applying for overlooked government benefits, and taking on flexible side jobs.
Government Tax Relief and Benefits
- Enhanced Senior Tax Deduction: Adults aged 65 and older can claim an additional tax deduction of up to $6,000 for individuals or $12,000 for married couples through 2028.
- Medicare Savings Programs: State Medicaid programs can help low-income seniors pay for Medicare Part A and Part B premiums, deductibles, and copays.
- Utility and Food Assistance: Programs like LIHEAP help pay heating and cooling bills, while senior food programs provide fresh produce and grocery vouchers.
- Benefit Finders: You can check what programs you qualify for by visiting BenefitsCheckUp.
Side Hustles and Part-Time Work
- Flexible Roles: Retirees can earn extra income through seasonal tax preparation, tutoring, pet care, or house sitting.
- Job Ideas: Review the Intuit Academy Side Hustles for Retirees for typical hourly pay rates and time commitments.
- Remote Work: Virtual assistant roles and online customer support offer work-from-home flexibility. Read the SoFi Guide for Retirees for more remote and seasonal job options.
Finding Hidden Cash
- Unclaimed Property: Search state databases via MissingMoney.com to see if you have forgotten bank accounts, insurance payouts, or refunds.
- Downsizing: Sell unneeded household goods, jewelry, or collectibles online.