February is the month when the “theoretical” adjustments to Social Safety lastly grow to be actual {dollars} in your checking account. Whereas the January test launched the brand new COLA, February confirms whether or not that improve is sufficient to cowl the winter heating payments that at the moment are arriving. In 2026, particular changes to fee schedules, tax kinds, and earnings limits are inflicting confusion for thousands and thousands of beneficiaries. Retirees are checking their on-line accounts to reconcile the distinction between what they thought they might get and what truly landed. Listed below are 9 details that you must confirm proper now to make sure your advantages are right.
1. The two.8% COLA is Locked In
The Value-of-Residing Adjustment (COLA) for 2026 is formally 2.8%, which interprets to a median improve of roughly $56 per 30 days. By February, this new quantity must be secure in your deposit historical past. In case your test quantity fluctuates between January and February, it’s normally resulting from a change in your Medicare Half D plan premium or tax withholding, not the COLA itself. You need to confirm that the gross quantity matches the COLA discover you obtained in December.
2. The Earnings Restrict is $24,480
In case you are working whereas gathering advantages earlier than your Full Retirement Age (FRA), the earnings restrict for 2026 is $24,480. This implies you’ll be able to earn as much as $2,040 a month with out triggering a penalty. Should you exceed this, the SSA withholds $1 for each $2 earned. Retirees checking their work schedules in February want to make sure they’re pacing their revenue to remain beneath this cover. Exceeding it early within the 12 months can result in a shock overpayment discover later.
3. The February Cost Waves (eleventh, 18th, twenty fifth)
As a result of February began on a Sunday, the Wednesday fee schedule is pushed later into the month.
- Feb 11: Birthdays 1st–tenth.
- Feb 18: Birthdays eleventh–twentieth.
- Feb 25: Birthdays twenty first–thirty first. In case your birthday is late within the month, you received’t receives a commission till February twenty fifth, leaving an extended hole in the event you have been paid in late January. You need to price range fastidiously to bridge this 4-week window.
4. No SSI Cost in February
As famous in earlier alerts, there isn’t a SSI fee within the month of February 2026. As a result of the February 1st fee was issued early on January thirtieth, thousands and thousands of recipients will see $0 deposited this month. The subsequent SSI test won’t arrive till February twenty seventh (for March). Should you spent the Jan thirtieth test already, you’re dealing with a strict money circulation drought this month.
5. The SSA-1099 Tax Kind Deadline
By February, it is best to have obtained your Kind SSA-1099 within the mail, which exhibits your whole advantages paid in 2025. This manner is crucial for submitting your taxes, as as much as 85% of your advantages could also be taxable in case your mixed revenue is excessive. Should you haven’t obtained it by February fifteenth, you will need to log into your My Social Safety account to obtain a alternative. Don’t file your taxes with out this doc.
6. Medicare Half B Premium is $185.00+
The usual Half B premium deducted out of your test in 2026 is $185.00 (or greater if IRMAA applies). Many seniors overlook that this premium typically will increase yearly, consuming into the COLA elevate. In case your test appears solely barely bigger than final 12 months’s, it’s as a result of the Medicare hike absorbed a portion of your 2.8% elevate. Verify the “Deductions” tab in your portal to see the precise breakdown.
7. The “Mixed Earnings” Tax Entice
February is when many seniors notice that their COLA improve would possibly push them right into a taxable bracket. The “Mixed Earnings” thresholds for taxing Social Safety ($25k for singles, $32k for {couples}) aren’t adjusted for inflation. This implies the two.8% elevate could be the straw that breaks the camel’s again, making extra of your advantages taxable this 12 months. You could want to extend your voluntary tax withholding (W-4V) now to keep away from owing the IRS subsequent April.
8. State Tax Exemptions Are Altering
A number of states have just lately eradicated or lowered taxes on Social Safety advantages for 2026. Should you dwell in a state like Nebraska or Missouri that has been phasing out these taxes, your February internet revenue could be greater in the event you adjusted state withholding. Verify your state’s Division of Income website to see if you’re now totally exempt. You don’t wish to withhold state tax in the event you now not owe it.
9. Scammers Love February
Tax season brings a spike in “Social Safety suspension” scams. Criminals name claiming your SSN has been “suspended” resulting from against the law and demand reward playing cards to repair it. Keep in mind: The SSA won’t ever name you to threaten arrest or demand speedy fee. Should you get this name in February, cling up instantly.
Confirm On-line At present
The one supply of reality is your my Social Safety account. Log in at present to confirm your fee date and deduction quantities so that you aren’t guessing together with your price range.
Did the Medicare premium eat up your COLA elevate this 12 months? Go away a remark beneath—inform us the mathematics!
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Teri Monroe began her profession in communications working for native authorities and nonprofits. At present, she is a contract finance and way of life author and small enterprise proprietor. In her spare time, she loves {golfing} together with her husband, taking her canine Milo on lengthy walks, and enjoying pickleball with pals.
