Part B costs (medical insurance)
Part B has the costs most beneficiaries encounter monthly. The standard premium is deducted from your Social Security check.
| Cost | 2026 Amount |
|---|---|
| Standard monthly premium | $202.90 |
| Annual deductible | $283 |
| Coinsurance after deductible | 20% |
| Out-of-pocket maximum | None* |
*Original Medicare has no out-of-pocket maximum. This is why many people add a Medigap policy or choose Medicare Advantage, which does have an annual cap.
Part A costs (hospital insurance)
| Cost | 2026 Amount |
|---|---|
| Monthly premium (40+ work credits) | $0 |
| Monthly premium (30–39 credits) | $311 |
| Monthly premium (<30 credits) | $565 |
| Hospital deductible (per benefit period) | $1,736 |
| Hospital coinsurance (days 61–90) | $434/day |
| Lifetime reserve days (days 91+) | $868/day |
| Skilled nursing facility (days 21–100) | $217/day |
Income-related surcharges (IRMAA)
Higher-income beneficiaries pay more for both Part B and Part D. IRMAA is based on your tax return from two years ago.
| Individual Income | Joint Income | Part B Premium |
|---|---|---|
| ≤ $109,000 | ≤ $218,000 | $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 – $500,000 | $410,001 – $750,000 | $649.20 |
| > $500,000 | > $750,000 | $689.90 |
Income changed? If you've retired, divorced, lost a spouse, or had another life-changing event, you can request IRMAA reconsideration using SSA Form SSA-44.
Part D costs (prescription drugs)
| Cost | 2026 Amount |
|---|---|
| National base beneficiary premium (CMS) | $38.99 |
| Annual deductible (max allowed) | $615 |
| Annual out-of-pocket cap | $2,100 |
| Late enrollment penalty | 1% × national base premium × months without coverage |
New for 2026: The Inflation Reduction Act capped out-of-pocket drug costs at $2,100 per year for all Part D and Medicare Advantage plans with drug coverage. This is a significant change from previous years when there was no cap. Learn more at MedicarePartD.org.
Medicare Advantage costs
Medicare Advantage costs vary by plan and county. Here are the key cost components:
- Monthly premium — Some plans charge a monthly premium and some don't. You still pay your Part B premium.
- Copays — Fixed amounts for doctor visits, prescriptions, and services. Vary by plan.
- Out-of-pocket maximum — The most you'll pay in a year. Medicare sets the ceiling at $9,250 for in-network services in 2026; a plan may set a lower limit.
Compare Medicare Advantage plans available in your Colorado county to see specific costs.
Late enrollment penalties
Missing your enrollment windows can result in permanent premium surcharges:
- Part A penalty — 10% higher premium for twice the number of years you delayed (only if you pay a premium for Part A).
- Part B penalty — 10% higher premium for each full 12-month period you delayed. Lasts as long as you have Part B.
- Part D penalty — 1% of the national base premium multiplied by the number of months without creditable coverage. Lasts as long as you have Part D.
These penalties are permanent. They are added to your premium every month for as long as you have that coverage. The best way to avoid them is to enroll during your Initial Enrollment Period.
Frequently asked questions
What is the Medicare Part B premium for 2026?
The standard Medicare Part B premium is $202.90 per month in 2026.
What is the Part B deductible for 2026?
The Part B annual deductible is $283 in 2026.
What is the Part A deductible for 2026?
The Part A inpatient hospital deductible is $1,736 per benefit period in 2026.
What is the Part D out-of-pocket cap for 2026?
The annual out-of-pocket cap for Part D prescription drug costs is $2,100 in 2026, thanks to the Inflation Reduction Act.
