Medicare has released the Medicare Part B premium for 2026. Part B covers doctors visits, outpatient hospital care, some home health services and other services not covered under Part A. Sixty-nine million Americans rely on Medicare.
As was anticipated, the 2006 Part B premium increase will wipe out a significant chunk of next year’s Social Security COLA gains for many retirees.The standard Medicare Part B premium will rise by $17.90 to $202.90, a 9.7% increase over 2025. This is the second-largest increase ever in dollars, and the first time the premium has crossed the $200 threshold. It will reduce the average retiree’s Social Security increase due to COLA from $58 to around $38.
The standard Part B premium applies to individuals with a modified adjusted gross income of $109,000 or less; and to married couples who file joint tax returns and have an adjusted gross income equal to or less than $218,000. Higher earners pay more than the standard premium because income related monthly adjustment amounts (IRMAA) apply to higher earners. About 8% of Part B participants are subject to IRMAA, according to the Center for Medicare and Medicaid Services.
The Part B annual deductible will also increase, from $257 this year to $283 in 2026. The Part A deductible for hospital stays will increase by $60, to $1,736 in 2026.
Rising health care costs are a worry for the average retiree, and understandably so. A 2025 analysis by Fidelity Investments estimates that someone turning 65 this year will face $172,500 in out-of-pocket health costs during retirement. And that number does not even include long-term nursing care, which is not covered by Medicare and is hovering around $100,000 annually. Medicaid planning, which our firm offers, can often help families facing long-term care costs.
You can see detailed information on Part A and Part B premiums and deductibles on the website of the Centers for Medicare and Medicaid Services. Click here.
