Rising health insurance costs in 2026 will force senior citizens to pay nearly 10% higher out-of-pocket expenses, keeping health care affordability a concerning matter.
How much will seniors have to pay in Medicare Part B premiums?
The Centers for Medicare & Medicaid Services recently announced that the standard monthly premium for Medicare Part B will be $202.90 in 2026, up $17.90 from $185 in 2025. It’s a 9.7% hike, the largest in four years and the second-highest in dollar terms in the program’s history; the largest premium increase was $21.60 in 2022, according to a CMS news release, CNN and Newsweek.
The annual deductible for Medicare Part B will rise to $283 in 2026, up $26 from $257 in 2025.
“The increase in the 2026 Part B standard premium and deductible is mainly due to projected price changes and assumed utilization increases that are consistent with historical experience,” the federal agency stated in the news release.
What services does Medicare Part B cover?
Medicare Part B is a component of the program that covers outpatient hospital services, including doctor’s visits, preventive care, durable medical equipment, certain prescription drugs, and other medical and health services not covered by Medicare Part A, per CMS.
Seniors rely on this program to cover basic health care needs, but the rise in out-of-pocket costs will be a burden for many older Americans.
“In a world in which people are concerned about the affordability of health care and all other needs, it’s pretty distressing that this increase is so large,” Jeanne Lambrew, director of health care reform at The Century Foundation, told CNN.
How will the premium hike affect monthly Social Security benefits?
As Blavity reported, the Social Security Administration revealed in late October that seniors, retirees and others who rely on Social Security and Supplemental Security Income benefits would receive a 2.8% cost-of-living adjustment starting in January 2026. The cost-of-living adjustment will increase monthly Social Security benefits by about $56. However, the Medicare Part B premium hike could leave many recipients with an increase of just $38, a small amount, as Americans also face rising costs of food, rent and utilities. Similar increases are expected in employer-based health plans and Affordable Care Act policies.
Some recipients may not feel the impact of the premium hike, thanks to the cost-of-living adjustment. According to USA Today, someone receiving $600 a month in Social Security benefits would see a COLA increase of $16.80, $1.10 less than the 2026 Medicare Part B premium increase.
“A Part B increase of this size would trigger the hold harmless provision for Social Security recipients with a Social Security benefit of $640 or less,” Mary Johnson, an independent Social Security and Medicare policy analyst, told USA Today.
The hold harmless provision protects some Social Security recipients by limiting the 2026 Medicare Part B premium increase to the amount of their cost-of-living adjustment, ensuring their benefits will remain the same. Beneficiaries with other automatic deductions, such as Medicare Advantage or Part D premiums, could still see reductions in their Social Security payments, per USA Today.