Who Pays the Standard Premium
According to Medicare & You 2026, the standard Part B premium in 2026 is $202.90 per month. Most people pay this amount. Your premium is deducted automatically from your Social Security benefit each month if you're already collecting Social Security. If not, you'll receive a quarterly bill from Medicare.
Unlike Part A — where most people qualify for a $0 premium — everyone with Part B pays a monthly premium. There is no work-history exemption for Part B.
What Is IRMAA?
IRMAA stands for Income-Related Monthly Adjustment Amount. It's an extra charge added to your Part B premium if your income exceeds certain thresholds. According to Medicare & You 2026, Medicare uses your modified adjusted gross income (MAGI) from your IRS tax return from 2 years ago to determine whether you owe IRMAA.
For 2026, that means Medicare looks at your 2024 tax return. If your 2024 MAGI was above $109,000 (filing individually) or $218,000 (married filing jointly), you'll pay more than the standard premium in 2026.
The IRS doesn't share your tax data with Medicare until well after the tax year ends. So in 2026, the most recent complete year Medicare has is 2024. This creates situations where retirees who had a high-income year before retiring are paying a higher Part B premium based on income they no longer have. The good news: there's a formal process to appeal this.
2026 IRMAA Brackets — Part B
The table below shows the 2026 Part B premium based on your 2024 income. These thresholds are from the official Medicare 2026 cost information.
| 2024 Individual Income | 2024 Joint Income | 2026 Monthly Part B Premium |
|---|---|---|
| $109,000 or less | $218,000 or less | $202.90 (standard) |
| $109,001 – $136,000 | $218,001 – $272,000 | $285.00 |
| $136,001 – $163,000 | $272,001 – $326,000 | $367.00 |
| $163,001 – $192,000 | $326,001 – $384,000 | $449.10 |
| $192,001 – $500,000 | $384,001 – $750,000 | $531.10 |
| Above $500,000 | Above $750,000 | $594.10 |
If your income is above the threshold, you'll also pay a higher Part D premium — a separate IRMAA surcharge on top of whatever your drug plan charges. The Part D IRMAA ranges from about $13 to $84 per month on top of your plan premium, depending on your income bracket. Both IRMAA amounts are determined by the same 2-year-old income data.
How the Premium Is Collected
If you receive Social Security benefits, your Part B premium is automatically deducted from your monthly check. If you don't receive Social Security (for example, you're not yet collecting benefits), Medicare will bill you quarterly. You can pay online through your Medicare account, through Medicare Easy Pay (automatic bank draft), through your bank, or by mail.
How to Appeal Your IRMAA
You can request a review of your IRMAA if your income has changed significantly due to a qualifying life event. According to Medicare & You 2026, if you disagree with your IRMAA determination — for example, because your income is lower now due to a life event — you can visit SSA.gov/medicare/lower-irmaa to request a reduction.
Retirement or reduction in work hours, death of a spouse, divorce or annulment, loss of income from a pension (due to plan termination or employer bankruptcy), loss of income-producing property due to disaster, or a significant reduction in income from a settlement or one-time event. You'll need to provide documentation — Social Security will request evidence of the change.
Help Paying Your Part B Premium
If you have limited income and resources, you may qualify for a Medicare Savings Program, which can help pay your Part B premium. Some programs also help with deductibles, coinsurance, and copayments. Visit Medicare.gov or call 1-800-MEDICARE to learn about eligibility in your state.
"IRMAA surprises a lot of newly retired clients — they retired midway through the year, had a big income for 6 months, and now Medicare is charging them a higher premium based on that income two years later. The appeal process is real and it works, but you have to know to ask for it. If you had a major income change — retirement, spouse passed away, sold a business — please look into whether you qualify for an IRMAA reduction. It can save you hundreds of dollars a month."
Talk to Betsy — Free Consultation