The 2026 Medicare Part B standard premium is projected to be $206.50 per month, an increase of $21.50 from the 2025 premium of $185. This is a double-digit increase and the largest single-year jump since 2016, based on estimates from the Medicare Trustees and other financial experts, though the Centers for Medicare & Medicaid Services (CMS) will announce the official final figures later this fall. 

Factors contributing to the projected increase: 

• Increased utilization of services: A higher demand for doctor visits and other outpatient care drives up costs.

• Higher drug and technology expenses: Rising costs for medications and medical technology also contribute to the premium hike.

• Longer life expectancy: More people living longer and entering Medicare also increases the overall beneficiary population.

• Legislative changes: The Inflation Reduction Act's effects on how Medicare covers certain medications have also played a role.

What this means for beneficiaries:

• Larger deduction from Social Security benefits: Many Medicare recipients have their Part B premium deducted directly from their Social Security checks, meaning a portion of their Cost-of-Living Adjustment (COLA) could be absorbed by the higher premium. 

• Higher income-related costs: High-income beneficiaries will face steeper Income-Related Monthly Adjustment Amounts (IRMAA) surcharges in addition to the standard premium. 

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What to do if you are affected:

• Review your coverage: It's recommended to review your Medicare options annually during the Annual Enrollment Period. 

• Consider Medicare Advantage: Medicare Advantage plans can offer lower deductibles and out-of-pocket maximums that might save money. 

• Explore financial assistance programs: Check if you qualify for federal or state programs, such as Medicare Savings Programs (MSPs), which can help cover Part B premiums and other costs.