He Got a Social Security Raise — Medicare Took It Back He Got a Social Security Raise — Medicare Took It Back Updated for 2026: Medicare premiums, COLA figures, and IRMAA thresholds reflect current data. A personal story about Social Security, Medicare — and what nobody warns you about. It's not a raise if it never reaches your bank account. A friend called me recently, genuinely confused. He’d heard the good news — Social Security was giving out a raise. Except when his check arrived, the raise was gone. Swallowed whole. The COLA raise? Gone before deposit. Worse — some got less than last year. And they weren’t alone. The COLA That Wasn’t Recent COLA increases have averaged around $45–$55 per month for many retirees — depending on benefit level. Meanwhile, Medicare premiums continue to rise. And here’s what most people don’t realize: those premiums are typically deducted directly from your Social Security check . Which means tha...