Why your 2026 Social Security check may feel smaller than expected, even after the COLA

The Social Security Administration confirmed a 2.8% Social Security COLA for 2026, lifting the average retiree benefit by about $56 a month. But net payments may disappoint. Medicare Part B premiums jump to $202.90, up from $185. Higher IRMAA surcharges, Part D premiums, and federal tax withholding further cut deposits. The COLA is real. Deductions reduce what retirees actually receive.