Millions of older Americans face higher Medicare Part B premiums in 2026, reaching $202.90 per month, a 10% jump. This increase surpasses the $200 threshold for the first time, impacting Social Security COLA adjustments. Rising costs and utilization are cited as reasons, with the hike partially offset by spending reductions on wound-care products.

Premiums tied to income mean about 8% of Medicare beneficiaries will pay more than the standard $202.90. Individuals earning $500,000 or couples earning $750,000 could pay up to $689.90 monthly for full Part B coverage. Updated figures also show higher charges for Part B immunosuppressive drug coverage based on income thresholds.

The premium hike triggers Medicare’s “hold harmless” provision for lower-income beneficiaries, protecting Social Security checks from decreasing due to premium increases. The interplay between rising Part B premiums and modest COLA increases may impact budgeting for healthcare and monthly expenses. Medicare Part A deductible and coinsurance amounts will also increase in 2026.

Read more at Yahoo Finance: Part B Premiums Spike To $202.90 Next Year, Shrinking Social Security’s COLA For Millions