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Medicare costs are going up in 2026 — and it’s important to know exactly how those changes could affect you or your loved ones. The Centers for Medicare & Medicaid Services (CMS) recently released updated premium, deductible, and coinsurance figures for Medicare Parts A and B, as well as revised income-related adjustment amounts for Part D. Below is a breakdown of what these changes mean and how to prepare. 1. Part A (Hospital Insurance) Updates Part A covers inpatient hospital care, some skilled nursing facility stays, hospice, and more. While most people don’t pay a Part A premium (because they’ve paid into Social Security for at least 40 quarters), the deductible and coinsurance are increasing: Inpatient hospital deductible (per benefit period): Goes from $1,676 in 2025 to $1,736 in 2026 . Hospital coinsurance (days 61–90) : Rises to $434/day (from $419). Hospital coinsurance (lifetime reserve days) : Increases to $868/day (from $838). Skilled Nursing Facility (SNF) coinsurance (days 21–100) : Jumps to $217/day (from $209.50). For those who don’t have enough Medicare work credits (fewer than 40 quarters), Part A still has a monthly premium: $311/month for those with 30–39 quarters $565/month for those with fewer than 30 quarters 2. Part B (Medical Insurance) Cost Changes Part B helps cover doctor visits, outpatient care, medical equipment, and more. Here’s how the 2026 numbers shape up: Standard monthly premium : Rising to $202.90 , up by $17.90 from 2025’s $185. Annual deductible : Increasing to $283 (from $257). Why the jump? CMS says the increase is largely driven by projected increases in utilization and prices — though policy changes helped tamp the rise. 3. Income-Related Premium Adjustments (IRMAA) for Part B If you have a higher income, your Part B premium could be significantly higher than the standard rate. These “Income-Related Monthly Adjustment Amounts” (IRMAA) apply to roughly 8% of Medicare beneficiaries. Here are the 2026 monthly premiums by income: 2026 Modified Adjusted Gross Income (AGI) IRMAA Total Part B Premium ≤ $109,000 (individual) / ≤ $218,000 (joint) $0 $202.90 $109,001–$137,000 / $218,001–$274,000 $81.20 $284.10 $137,001–$171,000 / $274,001–$342,000 $202.90 $405.80 $171,001–$205,000 / $342,001–$410,000 $324.60 $527.50 $205,001–$500,000 / $410,001–$750,000 $446.30 $649.20 ≥ $500,000 / ≥ $750,000 $487.00 $689.90 There’s also a separate table for those who only have Part B coverage for immunosuppressive drugs , with its own IRMAA structure. 4. What This Means for You Budget for higher costs. If you’re on Original Medicare, expect higher monthly Part B costs and a bigger deductible. This could affect how much you need to set aside or how you evaluate supplemental (Medigap) plans. High earners take note. If your income is above the thresholds listed above, your Part B premium could be substantially higher. That’s something to factor into both your retirement planning and Medicare enrollment. Review your coverage. These changes may influence whether you choose Original Medicare + Medigap, a Medicare Advantage plan, or certain Part D plans. Make sure to revisit your options during the next enrollment period. Plan ahead . Since these amounts go into effect in January 2026, you still have time to adjust your budget, shift savings, or explore different Medicare plan options. Final Thoughts Rising Medicare costs are a reality again in 2026 — especially for Part B. While these increases can be frustrating, being informed puts you in a stronger position to adapt. Review your income, your coverage choices, and your long-term budget to make sure Medicare continues to work for you. If you’d like help understanding how these changes might affect your situation (or someone you care for), Senior Insurance Advisors be happy to walk through options and planning strategies.
Losing a job is stressful enough on its own, but when your health insurance is tied to your employment, it adds another layer of uncertainty. If you’re approaching Medicare age and find yourself suddenly without employer coverage, the good news is—you have options. Here’s what you need to know about setting up Medicare after an unexpected job loss. 1. Know Your Enrollment Window If you’re 65 or older and lose your job (and your employer health insurance), you qualify for a Special Enrollment Period (SEP) . This gives you 8 months from the time your coverage ends to sign up for Medicare Part A and Part B without facing a late enrollment penalty. 👉 If you already signed up for Part A (hospital coverage) earlier because it’s premium-free, you’ll just need to add Part B (doctor visits, outpatient care, etc.). 2. Don’t Delay Part B Some people postpone enrolling in Part B while working, since employer coverage is often sufficient. But once you lose that coverage, it’s critical to enroll right away. If you delay beyond your 8-month SEP, you could face lifetime penalties and gaps in coverage. 3. Consider COBRA Carefully You may be offered COBRA to continue your employer health plan for up to 18 months. While COBRA can bridge a short gap, it does not count as “creditable coverage” to delay Medicare enrollment. If you rely only on COBRA and skip signing up for Medicare, you’ll face penalties later. In most cases, it’s better to elect Medicare first and consider COBRA only as a supplement if needed. 4. Add Prescription Coverage Once you have Part A and Part B, you’ll want to consider how to cover prescriptions. You have two main paths: Part D prescription drug plan (standalone, paired with Medicare Supplement). Medicare Advantage plan (Part C) that often bundles medical and drug coverage in one plan. If you skip Part D without other creditable drug coverage, penalties may apply later. 5. Think About Extra Coverage Original Medicare doesn’t cover everything. After losing employer coverage, many people choose to add: A Medicare Supplement (Medigap) plan to help with deductibles and coinsurance. Or a Medicare Advantage plan that often includes extras like dental, vision, and hearing. Your best option depends on your health needs, budget, and doctors. 6. Get Help if You Need It Sorting through Medicare choices after an unexpected job loss can feel overwhelming. The good news is you don’t have to navigate it alone. Senior Insurance Advisors can help you compare plans, understand your enrollment deadlines, and avoid costly mistakes. Final Thoughts Losing your job unexpectedly is a tough transition, but getting your Medicare coverage set up doesn’t have to add to the stress. By acting quickly and understanding your options, you can ensure your healthcare needs are covered without gaps or penalties.
