The standard Medicare Part B premium for 2026 is $202.90 per month. The annual deductible is $283, which you must pay before Medicare begins covering its share of your outpatient services. After meeting the deductible, you typically pay 20 percent of the Medicare-approved amount for covered services.

Not everyone pays the same premium. Medicare uses IRMAA, the income-related monthly adjustment amount, to determine if you owe more based on your earnings. For 2026, IRMAA applies to individuals with income above $109,000 and married couples filing jointly with income above $218,000. The higher your income, the more you pay each month.

Your IRMAA is calculated using your tax return from two years prior. This means your 2024 income determines what you pay in 2026. If your income has decreased due to retirement, job loss, or other qualifying life events, you may be able to request a reduction by filing an appeal with Social Security.

Taking time to review your income and Medicare coverage each year helps you anticipate costs and avoid surprises. Understanding how your earnings affect your premiums allows you to plan more effectively for healthcare expenses in retirement.