What Medicare Part B Will Cost in 2027
Nobody knows yet, including CMS. The only number available right now is a projection.
The 2026 Medicare Trustees Report, published on 9 June 2026, projects the standard Part B premium at $209.50 a month for 2027, up from the confirmed $202.90 in 2026. That is an increase of $6.60, or 3.25%.
Several private forecasters think that is too low. They put the figure somewhere between $215 and $219, pointing out that the Trustees have underestimated recent increases.
CMS confirms the actual premium in November 2026. Until then, every number on this page is a projection and is labelled as one.
Why 2027 Looks Gentler Than Last Year
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Some context makes the projection easier to read.
The premium went from $185.00 in 2025 to $202.90 in 2026. That was a jump of nearly 10%, and it hurt. It landed in the same month as a 2.8% cost-of-living adjustment, which meant a large share of the raise disappeared before it reached anyone’s bank account.
A 3.25% increase would be the smallest percentage rise since 2023, when the premium actually fell by 3.06% after the record 14.55% hike the year before.
So if the projection holds, 2027 is a quieter year. The longer view is less comfortable. The Trustees project $224.50 for 2028 and $338.50 by 2034.
How Reliable Is the Projection?
Worth being honest about this, because a lot of sites present the Trustees figure as though it were settled.
Projections move, in both directions. The 2025 Trustees Report projected a 2027 premium of $218.60. This year’s report revised that down by about $9 to $209.50.
They also miss low. In 2021 the Trustees projected a 2022 premium of $158.50. CMS eventually finalised it at $170.10, nearly $12 higher, after accounting for new drug spending assumptions.
That pattern is why private forecasters are budgeting for $215 to $219 rather than the Trustees number. If you are planning a fixed-income budget for next year, plan for the higher end. Being pleasantly surprised is better than the alternative.
The Part That Actually Matters: What the COLA Leaves You
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See What I Qualify For →🔒 Free · Private · Takes 2 minutesThis is the real question behind the premium, and it is why the two announcements are worth watching together.
Part B premiums are deducted from your Social Security payment before it reaches you. So the number that matters is not the raise and not the premium. It is the difference.
The 2027 cost-of-living adjustment is announced on 14 October 2026, currently projected at around 3.6%. The Part B premium follows in November. Only after both are known can anyone say what their January payment will actually be.
Rough arithmetic on the average retirement benefit of about $2,071: a 3.6% COLA adds roughly $75 a month. A $6.60 premium increase takes back just under 9% of that. If the premium lands at $219 instead, it takes back more than a fifth.
Our 2027 COLA guide has a calculator that works out the raise on any benefit amount, and it updates the moment the official figure is published.
The Deductible and Other 2027 Costs
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The Part B annual deductible for 2026 is confirmed at $283.00. Early actuarial projections put the 2027 deductible at around $310, an increase of roughly $27. Like the premium, that is not confirmed until November.
On the prescription side, some 2027 figures are already finalised rather than projected. The Part D annual out-of-pocket cap rises to $2,400, and the standard Part D deductible rises to $700.
The Part A inpatient hospital deductible for 2027 is also expected around November 2026.
Not Everyone Pays the Standard Premium
Two groups pay something different, and both are worth knowing about.
Higher earners pay more
If your income is above a threshold, you pay an income-related monthly adjustment amount on top of the standard premium. It is based on your tax return from two years earlier, so the 2027 premium is assessed on 2025 income.
That two-year lag catches people out. A one-off event in 2025, such as selling a property or taking a large retirement distribution, can push you into a higher bracket for 2027 even though your current income is modest. If that happened to you, there is a process for requesting a reduction based on a life-changing event.
Lower earners may pay nothing
This is the part that goes most underused.
Medicare Savings Programs can pay your Part B premium in full. They are run through state Medicaid agencies, and the income limits are considerably higher than most people assume. Millions of people who qualify have never applied.
There are several tiers. The main one covers the Part B premium entirely. Others also cover deductibles and coinsurance. Qualifying for any of them also automatically enrols you in Extra Help, which cuts prescription drug costs substantially.
If you are living mainly on Social Security, this is the single most valuable thing on this page. A programme that eliminates a $200-plus monthly deduction is worth far more than any COLA. Our Medicaid guide covers how these programmes work alongside Medicare.
The Hold Harmless Rule
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For most people who have Part B premiums deducted from Social Security, the premium increase cannot be larger than the dollar amount of that year’s COLA. In other words, your Social Security payment cannot go down because of a Part B increase.
It does not cover everyone. People new to Medicare that year, higher earners paying the income-related adjustment, and people who pay their premium directly rather than through a Social Security deduction are all outside it.
In a year with a 3.6% COLA and a 3.25% premium increase, the rule is unlikely to bind for most people. It matters far more in low-COLA years.
When Each Number Is Announced
- 14 October 2026 — Social Security COLA for 2027
- November 2026 — CMS confirms Part B premium, deductible, and Part A costs
- December 2026 — SSA mails personalised notices showing your exact January payment after deductions
- 1 January 2027 — new premium and new benefit amount both take effect
Medicare Open Enrollment runs from 15 October to 7 December, which means it overlaps the premium announcement. If you are comparing plans, the standard Part B premium applies regardless of which Medicare Advantage or Part D plan you choose, so it is a constant rather than a variable in that decision.
Frequently Asked Questions
What will the Medicare Part B premium be in 2027?
It has not been confirmed. The 2026 Medicare Trustees Report projects $209.50 a month, up from $202.90 in 2026. Private forecasters expect $215 to $219. CMS announces the official figure in November 2026.
When does CMS announce the 2027 premium?
Typically in November, a few weeks before Medicare Open Enrollment closes on 7 December.
How much is the 2027 Part B deductible?
Not yet confirmed. The 2026 deductible is $283.00 and early projections put 2027 at around $310. The official figure comes with the premium announcement in November.
Will the premium increase cancel out my COLA?
Not entirely, on current projections. A 3.6% COLA on the average benefit adds roughly $75 a month, while a $6.60 premium increase takes back under 9% of it. If the premium lands near $219 instead, it takes back more than a fifth.
Can my Social Security payment go down because of Medicare?
For most people, no. The hold harmless rule prevents the Part B increase from exceeding the dollar value of the COLA. It does not apply to people new to Medicare that year, higher earners paying the income-related adjustment, or people who pay premiums directly rather than through a deduction.
Is there any way to avoid paying the premium?
Medicare Savings Programs can pay it in full for people with limited income and resources. They run through state Medicaid agencies and are significantly underclaimed. Qualifying also enrols you automatically in Extra Help for prescription costs.
Why am I paying more than the standard premium?
Almost certainly the income-related monthly adjustment amount, based on your tax return from two years earlier. If your income has dropped since then because of retirement, divorce or a death in the family, you can request a reduction based on a life-changing event.
This Page Updates in November
As soon as CMS confirms the 2027 premium and deductible, we replace the projections here with the official figures and note the date they were confirmed.
Get the official premium in November
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