In early October, the Social Security Administration announced an 8.7% cost-of-living adjustment for 2023. This recent CNBC article outlines how to calculate exactly how much bigger monthly benefit checks will be next year. 

"To get the most accurate read, add your Medicare Part B premium to your net Social Security benefit and then multiply that sum by the 2023 COLA. That’s in contrast to other years, where it would usually be more appropriate to instead deduct your premium for Medicare Part B."

Read the CNBC article in its entirety.