Premiums and IRMAA: What You Pay to Maintain Coverage
Monthly Premiums for Part A and Part B
A premium is the fixed monthly fee you pay to keep your coverage active. Most people receive premium-free Part A by earning 40 work quarters.
If you earned 30 to 39 quarters, your 2026 Part A premium is $311 monthly. With fewer than 30 quarters, Part A costs $565 monthly in 2026.
The standard Part B premium is $202.90 per month in 2026. Trustees project Part B will rise to roughly $209.50 in 2027, pending late November CMS confirmation.
Most retirees have their monthly Part B premiums deducted automatically from their Social Security benefit checks.
If you have not yet claimed Social Security benefits, Medicare bills you quarterly for your Part B coverage.
Private Plan Premiums: Part C and Part D
According to CMS projections, average monthly Medicare Advantage premiums will drop from $14.37 in 2026 to $12.00 in 2027.
Average stand-alone Part D prescription plan premiums are projected to rise slightly from $35.09 in 2026 to roughly $36.00 in 2027.
IRMAA: Surcharges for Higher Earners
The Income-Related Monthly Adjustment Amount, or IRMAA, is an added surcharge on Part B and Part D premiums for higher earners.
The Social Security Administration (SSA) bases your IRMAA on your tax return from two years prior.
In 2026, IRMAA applies if your 2024 income exceeded $109,000 for individuals or $218,000 for joint filers. The individual threshold rises to roughly $113,000 in 2027.
The government reviews your income every single year. An IRMAA surcharge is not permanent if your income drops in future tax years.
If your income dropped due to retirement or life changes, call the Social Security Administration at 1-800-772-1213 to submit Form SSA-44.
