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The 2027 Social Security Changes Nobody Mentions
1. The maximum taxable wage base rises
Social Security tax (6.2% for employees) applies only up to a cap. In 2026 that cap is $184,500, up from $176,100 in 2025. It rises with national average wages, so expect another increase for 2027. If you earn above the cap, a slice of each new year of income becomes taxable again in January.
2. The earnings limits move up
Collecting benefits before your full retirement age while still working? In 2026 you can earn $24,480 before benefits are withheld ($1 withheld per $2 above it). In the calendar year you reach full retirement age the limit is $65,160 ($1 per $3). The 2027 limits are announced with the COLA.
3. The maximum benefit climbs
The highest possible check — for someone who earned at or above the cap for 35 years and claimed at 70 — rises each year too. In 2026 the maximum benefit at age 70 is about $5,251 per month.
4. Announced separately: Medicare
The 2027 Medicare Part B premium is not part of the October 14 announcement — it arrives later in the fall from CMS, and for most people it is deducted straight from the Social Security check. Judge your real raise only after both numbers are public.
| Number | 2026 value | 2027 value |
|---|---|---|
| COLA | 2.8% | Announced Oct 14, 2026 (projected 3.5%–3.6%) |
| Taxable wage base | $184,500 | Announced Oct 14, 2026 |
| Earnings limit (under FRA) | $24,480 | Announced Oct 14, 2026 |
| Earnings limit (year you reach FRA) | $65,160 | Announced Oct 14, 2026 |
| Medicare Part B premium | $202.90/mo | Announced later in fall 2026 |
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