Cost of Living Adjustment (COLA) was announced recently for 2015 benefits. According to the SSA website:
Based on the increase in the Consumer Price Index (CPI-W) from the third quarter of 2013 through the third quarter of 2014, Social Security and Supplemental Security Income (SSI) beneficiaries will receive a 1.7 percent COLA for 2015.
Part B premium for Medicare will remain unchanged for 2015. This link provides further details and comparisons of 2014 and 2015 Medicare costs.