Medicare Part B Premium 2026: What to Expect

# Medicare Part B Premium 2026: What to Expect

Medicare Part B covers the outpatient services most beneficiaries use every year—doctor visits, preventive screenings, lab tests, and medical equipment. Every enrollee pays a monthly premium for this coverage, and that premium changes each year based on a formula set by law. If you're approaching Medicare or reviewing your costs for the year ahead, understanding how the Part B premium is determined—and what could change your personal amount—is essential.

How the Part B Premium Is Set Each Year

The Centers for Medicare & Medicaid Services (CMS) announces the standard Part B premium each fall for the following year. The amount is calculated based on projected Medicare program costs and is governed by formulas in the Social Security Act. In recent years, the standard premium has changed annually—sometimes modestly, sometimes more significantly.

For the most accurate current figure, visit Medicare.gov or call 1-800-MEDICARE (1-800-633-4227). Published premium amounts can also be found in your Annual Notice of Change (ANOC) if you're already enrolled in a Medicare plan, or through the official CMS newsroom at cms.gov.

Most beneficiaries pay the standard premium. However, two groups pay more:

• Higher-income beneficiaries subject to IRMAA (described below).
• Late enrollees who missed their Initial Enrollment Period without qualifying employer coverage.

If you're already receiving Social Security benefits, your Part B premium is automatically deducted from your monthly payment—you won't receive a separate bill. If you're not yet collecting Social Security, CMS will bill you quarterly, and you can set up automatic bank payments through mymedicare.gov.

IRMAA: When Higher Income Means a Higher Premium

The Income-Related Monthly Adjustment Amount (IRMAA) is an additional charge applied to Part B premiums for beneficiaries whose income exceeds certain thresholds. It affects a minority of Medicare enrollees, but those who do pay it can see their monthly premium rise substantially.

Here's how IRMAA works:

• The look-back period is two years. Your 2026 Part B premium is based on your Modified Adjusted Gross Income (MAGI) from your 2024 tax return. This means income you earned before you retired—or a one-time event like a home sale or Roth conversion—can affect your Medicare premium years later.
• There are multiple brackets. Income above the base threshold is subject to IRMAA, and the surcharge increases in steps as income rises. Each bracket adds a fixed monthly dollar amount on top of the standard premium. The brackets and amounts are set each year by CMS.
• Both Part B and Part D carry separate IRMAA surcharges. If your income is above threshold, you may pay more for both.

For 2026 IRMAA bracket thresholds and the exact surcharge amounts, check Medicare.gov or the Social Security Administration's IRMAA determination letter if you've received one.

How to Appeal IRMAA After a Life-Changing Event

One of the most important things many beneficiaries don't know: IRMAA can be appealed. If your income has dropped significantly since your last tax filing—due to retirement, loss of a spouse, divorce, or another qualifying event—you don't have to simply accept the higher premium.

To request a reduction in your IRMAA, file Form SSA-44 (Medicare Income-Related Monthly Adjustment Amount — Life-Changing Event) with the Social Security Administration. Qualifying life-changing events include:

• Retirement or reduction in work hours
• Death of a spouse
• Divorce or annulment
• Loss of income-producing property due to disaster or other circumstances
• Employer settlement payment that ended

When you file SSA-44, SSA will use your more recent income—or an estimate of your current-year income—to recalculate your premium. If approved, you could see your Part B and Part D costs reduced significantly within the same year. Keep documentation of your income change ready when you file.

The Late Enrollment Penalty and How It Adds to Your Premium

If you didn't enroll in Part B during your Initial Enrollment Period and didn't have qualifying employer coverage, a late enrollment penalty is added permanently to your standard premium. The penalty is calculated as a percentage increase based on the number of full 12-month periods you went without Part B while eligible.

This penalty doesn't go away—it stays with you for the entire time you have Part B. Because the penalty is calculated as a percentage of the standard premium, it also increases slightly in years when CMS raises the standard rate.

A few things to know about the penalty:

• COBRA, retiree health plans, and individual marketplace plans do not qualify as creditable coverage that lets you delay Part B penalty-free.
• Coverage through active employment (yours or your spouse's) at an employer group health plan generally does qualify—but you must enroll in Part B within 8 months of that coverage ending.
• If you believe a penalty was applied in error, you can request a reconsideration through the Social Security Administration.

Frequently Asked Questions

Q: Will my Part B premium automatically increase each year if I'm on a fixed income? A: Your premium can change year to year based on CMS's annual announcement, but there is a "hold harmless" provision in Medicare law that limits how much the Part B premium can increase for Social Security recipients in years when Social Security cost-of-living adjustments (COLAs) are small. This protection applies to beneficiaries who have their Part B premium deducted from Social Security. Beneficiaries who don't yet receive Social Security, or those subject to IRMAA, are not protected by the hold harmless rule.

Q: Is the Part B premium the only cost I need to budget for under Part B? A: No. Part B also has an annual deductible that resets each January. After the deductible, most Part B services are covered at 80%, leaving you responsible for a 20% coinsurance with no annual cap under Original Medicare alone. Many beneficiaries add a Medigap plan or choose Medicare Advantage specifically to limit this exposure. When budgeting for Medicare, factor in the premium, deductible, and potential coinsurance together.

Q: How do I find out exactly what my Part B premium will be this year? A: The most reliable sources are your Social Security benefit statement, your Medicare.gov account, or your Annual Notice of Change if you're already enrolled in a plan. You can also call 1-800-MEDICARE. If you're subject to IRMAA, Social Security will have mailed you an IRMAA determination letter explaining your income tier and the premium amount.

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