Social Security's cost-of-living adjustment could rise 2.7%. But Medicare Part B premiums are set to rise even more, eating most of the COLA.

The reality is that while inflation has been ticking upward these past few months, we don't know whether this trend will continue. And even if next year's Social Security COLA is larger than 2025's, it doesn't guarantee that you'll end up with more buying power.

Every year, Social Security is eligible for a COLA. When inflation remains flat, Social Security benefits remain flat. When there's a decrease in inflation from one year to the next, Social Security benefits also remain flat.