Medicare costs are going up in 2026, and the increase is bigger than what we’ve seen in recent years. The most notable jump will be in Medicare Part B, which is expected to rise 11.6%, nearly double the increase from 2025.

If these projections hold, the standard Part B premium will be $206.50 per month in 2026 — up $21.50 from 2025. This would be the largest dollar increase since 2022, significantly impacting Medicare cost projections for 2026.

What This Means for Your Social Security Check

For most people, the Part B premium is automatically deducted from their monthly Social Security benefit. While Social Security payments are projected to increase by about 2.6% to 2.7% in 2026, the higher Part B premium will take a big bite out of that raise — about 40% of the monthly increase.

Medicare Part B in 2026

Part B covers doctor visits, outpatient services, and some home health care. In addition to the premium increase, the Part B deductible is expected to rise from $257 in 2025 to $288 in 2026 — an 11.2% jump.

Medicare Part D in 2026

Unlike Part B, Part D (prescription drug coverage) premiums vary by plan. The base beneficiary premium is projected at $38.99 in 2026, but your actual Medicare cost will depend on the plan you choose. Therefore, understanding the total Medicare cost in 2026 is crucial.

Here’s what’s changing:

• Annual Deductible – Rising to $615 (up from $590 in 2025).
• Out-of-Pocket Cap – A positive change: the annual limit for prescription drug costs will be $2,100 in 2026 (up from $2,000 in 2025). Once you reach this cap, you won’t pay any more out-of-pocket for covered prescriptions that year.
• Premium Stability – Thanks to the Inflation Reduction Act, annual increases for the base premium are capped, which helps keep Part D costs from spiking dramatically.

Why This Matters

Medicare Open Enrollment runs from October 15 to December 7 each year. Medicare cost increases in 2026 highlight the importance of planning during this period. This is your chance to:

• Switch between Original Medicare and Medicare Advantage.
• Change your Advantage plan.
• Select or change your Part D prescription drug coverage.

Because premiums, deductibles, and plan benefits change each year, reviewing your plan is essential — especially in 2026 with these projected cost increases.

How to Prepare

• Review Your Budget – Factor in the higher premiums and deductibles expected for Medicare costs in 2026.
• Compare Plans – Look closely at drug coverage, out-of-pocket caps, and monthly costs.
• Watch Your Income – Higher-income earners may pay more due to the Income-Related Monthly Adjustment Amount (IRMAA). Planning ahead can help you avoid future surcharges.
• Download this free 5-step planning toolkit to help you plan better.

But the good thing is you don’t need to do any of these by yourself. I Know Medicare is here to help you deal with this with ease. Call 540-662-4432 to book a free call with us today.

Bottom Line

While some costs are going up in 2026, there are also protections and benefits that can help keep expenses manageable. The key is to plan ahead, compare your options, and make informed decisions during open enrollment.

At I Know Medicare, we’re here to guide you through every step so you can get the most from your coverage without unnecessary stress.