What You Need To Know

• The recently announced 2.8% COLA for 2026 is not enough to keep up with rising costs, senior advocates and Democratic lawmakers say.
• The Consumer Price Index for the Elderly takes medical expenses into account but doesn't always yield a higher benefit than the current formula.
• The Boosting Benefits and COLAs for Seniors Act would adjust benefits based on either CPI-W or CPI-E, whichever is greater.