Fall Benefits Update: COLA, Healthcare, SNAP

As with every year, the end of October is full of benefits news. This year, with the government shutdown entering its fifth week, the headlines can feel daunting. Here’s what you need to know and how to stay in control of your financial health.

There are three main benefits topics in the news right now:

1. Social Security’s Cost of Living Adjustment (COLA) increase of 2.8%.
2. Active open enrollment for Medicare and other health insurance plans.
3. Possible delays in Supplemental Nutrition Assistance Program (SNAP) benefits for many states.

Communication Is Key

No matter your situation, communication is essential for protecting your financial health.
If you can’t pay a bill, reach out to the business or organization and ask for a payment plan. Explain any circumstances beyond your control, such as illness or loss of income due to the shutdown. Even if an arrangement isn’t possible, documentation that you communicated can help you later.

Think of temporary financial hardship as just that temporary. Keep short-term problems from becoming long-term ones by staying proactive and transparent.

Social Security COLA

Starting in January 2026, Social Security payments including Retirement, Survivor, SSDI, and SSI will increase by 2.8%. For example, if you currently receive $1,000 per month, your benefit will rise to $1,028 per month.

Log in to your mySSA account at myssa.gov to verify your information, update your address or direct deposit, and report other income. SSA expects to post 2026 payment details by November 17.

Healthcare Open Enrollment

Three major healthcare enrollment periods are underway through December.

Medicare includes four parts:

• A and B: Standard hospital and medical coverage.
• C: Medicare Advantage (optional, through private insurers).
• D: Prescription drug coverage.

You can have Medicare A and B plus Part D through a private insurer, or choose an all-in-one Medicare Advantage plan. Subsidies may be available based on income, and some individuals qualify for both Medicare and Medicaid.

Other health insurance plans typically follow a similar window of October 15 to December 7. Private market and employer-based coverage renew during this time, while Medicaid enrollment remains open year-round. Take time to review your options — plan coverage can vary significantly.

SNAP and Food Assistance

At least 25 states are not planning to distribute SNAP funds on November 1 due to the government shutdown. If you rely on SNAP, prepare now by seeking local food resources such as food banks, churches, or community programs.

While an additional payment may later make up for the missed disbursement, it’s best to plan based on actual funds received. With 45 million SNAP recipients and 71 million Social Security recipients nationwide, demand for assistance will be high.

Be proactive communicate your needs and seek help early. Don’t let fear of asking for help push you into debt.

If you have questions about benefits, please contact me.

Jenny Holcomb, J.D., WIP-C
Jenny can be contacted through Penny Forward by calling 1 (888) 332-5558 or emailing jenny.holcomb@pennyforward.com.

While we strive to ensure the accuracy of this information, we make no warranties or representations about its completeness or reliability.
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