Medicare Premiums Set for Second-Largest Increase in Its History
Summary
Medicare Part B premiums will go up by nearly 10% in 2026, marking the second-biggest increase in the program's history. This change will affect retirees' Social Security benefits, which are often used to pay these premiums. The increase may impact the cost-of-living adjustments for many beneficiaries.Key Facts
- Medicare Part B premiums are set to increase by $17.90, totaling $202.90 per month in 2026.
- The 9.7% increase is the second-largest in the history of Medicare Part B.
- Medicare Part B helps pay for outpatient medical services like doctor visits and lab tests.
- This premium is usually taken out of retirees' Social Security checks.
- Social Security benefits will rise by 2.8% in 2026, but the Medicare premium hike will reduce this increase.
- For those with lower monthly benefits, a rule called the "hold harmless provision" may protect against higher costs if the premium increase is more than their Social Security raise.
- The increase is due to expected changes in prices and usage of services, according to the Centers for Medicare and Medicaid Services.
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