Medicare Part B premium price hike will cut into 2026 Social Security checks

Core Insights - Medicare premiums are set to increase significantly in 2026, with monthly Part B premiums rising to $202.90, an increase of $17.90 or nearly 10% from $185 in 2025 [1] - The annual Part B deductible will also increase by $26, or 10%, to $283 from $257 in 2025 [1][3] - This increase in Medicare premiums will consume nearly a third of the expected 2.8% cost-of-living adjustment (COLA) for Social Security benefits, which will rise from $2,015 to $2,071 for the average retired worker [3] Medicare Premium Increases - The upcoming increase in Part B premiums is noted as the second-highest in the program's history [2] - Part B premiums are rising at a rate of 9.7%, which is almost 3.5 times faster than the COLA rate of 2.8% [4] - Approximately one million Social Security beneficiaries will have their Part B premium increase capped due to the "hold harmless" provision, which prevents their premium increase from exceeding their COLA [5] High-Income Surcharges - Medicare beneficiaries with incomes exceeding $109,000 for single filers and $218,000 for joint filers will incur additional surcharges on their Part B premiums [9] - For these high-income beneficiaries, total monthly Part B premiums will range from $284.10 to $689.90 in 2026 [9]