Nearly all Social Security recipients are enrolled in Medicare B, for which they have the premium automatically deducted from their monthly Social Security payment. The Medicare B monthly premium in 2026 will exceed $200 for the first time, as it rises 9.7% to $202.90, an increase of $17.90. It’s the largest percentage increase since 2022, when the premium jumped by 15%.

The Part B deductible — the amount seniors must pay out of pocket before their coverage kicks in— is also rising about 10%, jumping to $283 next year from this year’s $257. 

The Social Security Administration set next year’s cost-of-living increase at 2.8%, which will boost the average Social Security check by $56 to about $2,071 per month.

The Medicare Part B premium hike will consume about a third of next year’s average COLA [cost of living adjustment] effectively lowering the rate to 1.9% — far below the current inflation rate of 3%. People with lower monthly benefits could even see an effective COLA of zero, according to the National Committee to Preserve Social Security and Medicare (NCPSSM). The law specifies that the Medicare B premium increase cannot cause a recipient’s Social Security payment to decrease.