Medicare premium hike will cut into 2026 Social Security checks

Core Insights - Medicare premiums are set to increase significantly in 2026, impacting retirees' Social Security benefits [1][3] - The increase in Part B premiums is the second-highest in the program's history, with a rise of $17.90 to $202.90 per month [2] - The annual Part B deductible will also increase by $26, reaching $283 in 2026 [1] Medicare Premiums and Social Security - The higher Medicare premiums will consume nearly a third of the average Social Security cost-of-living adjustment (COLA) of $56 for 2026 [3] - The average monthly benefit for retired workers will increase from $2,015 to $2,071, but the Part B premium increase is significantly higher at a rate of 9.7% compared to the COLA's 2.8% [3][4] - Part B premiums are rising almost 3.5 times faster than the COLA [4] Hold Harmless Provision - Not all beneficiaries will experience the full impact of the premium increase due to the "hold harmless" provision, which caps the Part B premium increase for some individuals [4][5] - Approximately one million Social Security beneficiaries are expected to have their Part B increase capped under this provision [5] Additional Medicare Costs - Other Medicare cost increases for 2026 include high-income surcharges, affecting about 8% of Medicare users who earn too much to qualify for standard premiums [8] - Beneficiaries with incomes exceeding $109,000 for single filers and $218,000 for joint filers will face surcharges, resulting in total monthly Part B premiums ranging from $284.10 to $689.90 [9]