Medicare Part B Premiums Set to Rise Nearly 10% in 2026

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The Centers for Medicare and Medicaid Services (CMS) has announced that Medicare Part B premiums will increase by 9.7% in 2026, marking one of the largest jumps in recent years. The standard monthly premium will rise from $185 in 2025 to $202.90, while the annual deductible will increase to $283.

Part B covers a wide range of services, including ambulance transport, outpatient hospital care, medical equipment, certain prescription drugs, and treatment for substance use disorders.

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CMS attributed the increase to higher projected costs and utilization trends. However, officials noted that the premium hike would have been even greater without recent action to curb spending on skin substitutes, biologic and synthetic products used in wound care. Medicare spending on these products ballooned from $256 million in 2019 to more than $10 billion in 2024, prompting new rules aimed at reducing waste and fraud. The agency expects spending on skin substitutes to drop by 90% under the 2026 Physician Fee Schedule.

The announcement has sparked political debate. Rep. Richard Neal (D‑Mass.) criticized the Trump administration, arguing that the premium hike represents another financial burden on seniors and disabled Americans.