A report by the AARP Public Policy Institute has warned that Medicare costs are increasing again, outpacing Social Security. The cost of long-term care services has jumped nearly 50% in five years, while the income for retired Americans grew by less than half this rate. Long-term costs are rising two to three times faster than retiree income, according to the report. The report, based on data from the Genworth/CareScout Cost of Care Survey, covered all types of care older Americans rely on. The Social Security Administration has announced a 2.8% COLA for 2026, translating to about $56 more per month for the average retired worker. The Centers for Medicare & Medicaid Services set the 2026 Medicare Part B premium at $202.90 per month, up $17.90 from $185 in 2025, a 9.7% increase.