Seniors: 3 Pieces of Good News for Your Money in January — Plus One Worth $2,400 a Year

Some good news for a change. Starting in January, four things change for your money: the Social Security raise (estimated at around 3.5% — about $73 a month on an average check), lower average Medicare Advantage premiums, and the new $6,000 senior tax deduction. And the fourth, the one almost nobody claims: a state program that can pay your $202.90 Part B premium — about $2,400 a year back in your Social Security deposit. WHAT TO KNOW • The raise: announced October 14. Estimates: 3.5% (The Senior Citizens League, Mary Johnson), 3.6% (AARP). Paid from January (SSI on December 31). Part B ($202.90 in 2026) is projected at about $209.50 for 2027; the official number comes in November. The hold harmless rule keeps most people's checks from going down because of it. • Medicare Advantage: the average premium is projected to fall from $14.37 to $12.00 in 2027 (−16.5%); the drug part of those plans from about $11 to $7. Separate drug plans: about flat (~$36). Compare plans October 15 – December 7. • The senior deduction: $6,000 per person 65 and older ($12,000 for a couple) on your 2026 tax return, on top of the standard deduction, even if you itemize. It phases out above $75,000 single / $150,000 joint and is gone at $175,000 / $250,000. Temporary: 2025 through 2028. • Medicare Savings Programs: your state can pay your Part B premium. In most states (2026): income up to about $1,816 a month single or $2,455 for a couple, savings under about $9,950 / $14,910 — and about a dozen states, including New York, Arizona, Connecticut and D.C., don't count savings at all. You also qualify for Extra Help with prescriptions. Apply through your state's Medicaid office. FREE HELP (nobody here sells insurance) • SHIP — free, unbiased Medicare counseling in every state: shiphelp.org • 1-800-MEDICARE (1-800-633-4227) — ask for your state's Medicaid office • Medicare Plan Finder: medicare.gov/plan-compare CHAPTERS 0:00 Four money changes starting in January 0:46 Good news #1: your raise (about 3.5%) 1:18 What the raise means for your check 1:51 Two more numbers announced the same morning 2:16 A scam warning 2:31 The catch: your Part B premium (and the hold harmless rule) 3:12 Good news #2: Medicare Advantage premiums are falling 4:12 What to do during open enrollment 4:31 A caution if you have a Medigap supplement 4:48 Good news #3: the $6,000 senior deduction 5:39 How much the deduction is worth 5:57 Two honest notes about the deduction 6:27 Good news #4: your state may pay your Part B premium 7:08 Who qualifies for a Medicare Savings Program 7:45 A real example: a widow, 74 8:06 How to apply 8:31 Your calendar: every date in one place 9:12 My honest read 9:32 Which one helps you most? SOURCES The Senior Citizens League and AARP — 2027 COLA estimates (as reported by CNBC and Kiplinger) CMS — "Medicare Advantage and Medicare Prescription Drug Programs Expected to Remain Stable in 2027" (September 2026) 2026 Medicare Trustees Report — projected 2027 Part B premium IRS — Enhanced deduction for seniors (tax years 2025–2028) Medicare.gov — Medicare Savings Programs ABOUT THIS CHANNEL Every video is researched from official sources and the reporting listed above. This channel is not affiliated with Social Security, Medicare, the IRS or any government agency, and does not sell insurance or investments. General information only, not tax or financial advice for your personal situation.