Medicare Part B is your “Medical Insurance,” covering doctor visits, outpatient services, preventive care, and durable medical equipment. For the 2026 tax year, both the standard premium and the annual deductible have increased to reflect rising healthcare utilization and costs.
2026 Premiums and Deductibles
The vast majority of Medicare beneficiaries pay the standard monthly premium, which is typically deducted directly from their Social Security checks.
- Standard Monthly Premium: In 2026, the premium is $202.90 (an increase from $185.00 in 2025).
- Annual Deductible: You must pay the first $283 of your Medicare-approved medical costs out-of-pocket before Part B begins to cover its share.
- Coinsurance: Once the deductible is met, you typically pay 20% of the Medicare-approved amount for most doctor services and outpatient care.
Income-Related Monthly Adjustment Amount (IRMAA)
If your Modified Adjusted Gross Income (MAGI) from two years ago (the 2024 tax year) was above a certain threshold, you must pay an additional surcharge known as IRMAA.
| 2024 Income (Individual) | 2024 Income (Joint) | Total 2026 Monthly Premium |
| $109,000 or less | $218,000 or less | $202.90 |
| $109,001 – $137,000 | $218,001 – $274,000 | $284.10 |
| $137,001 – $171,000 | $274,001 – $342,000 | $405.80 |
| $171,001 – $205,000 | $342,001 – $410,000 | $527.50 |
| $205,001 – $499,999 | $410,001 – $749,999 | $649.20 |
| $500,000 or more | $750,000 or more | $689.90 |
Key Coverage Areas
Part B covers services that are “medically necessary” to treat a condition, as well as many “preventive services” at no cost to you.
- Clinical Research & Ambulance Services: Coverage for emergency transport and participation in approved medical trials.
- Durable Medical Equipment (DME): Items like walkers, wheelchairs, and oxygen equipment.
- Mental Health: Inpatient and outpatient mental health services, including the new intensive outpatient programs introduced in the last few years.
- Preventive Care: This includes your “Welcome to Medicare” visit, annual wellness visits, and screenings for cancer, diabetes, and cardiovascular disease.
Important Insulin Benefit
A continuing protection in 2026 is the cap on insulin costs. If you use a traditional insulin pump that is covered under Part B’s durable medical equipment benefit, your out-of-pocket cost for a one-month supply of insulin is capped at $35. Furthermore, the Part B deductible does not apply to this covered insulin.
Source: Centers for Medicare & Medicaid Services (CMS), “2026 Medicare Parts A & B Premiums and Deductibles” (Fact Sheet); and Social Security Administration (SSA) Publication No. 05-10043.
commonwealth-retirement.com 