Summary
In 2026, some people who get Social Security will receive smaller payments because of higher Medicare premiums. Specifically, these increases are related to IRMAA, a surcharge that affects higher-income earners. The cost-of-living adjustment (COLA) increase may not cover these additional costs, leading to smaller net payments for affected individuals.
Key Facts
- In 2026, some Social Security recipients will see smaller payments due to increased Medicare IRMAA premiums.
- About six million seniors will experience these rising costs.
- The COLA for Social Security in 2026 is set at 2.8 percent.
- IRMAA affects higher-income earners, with about 7 percent of Medicare beneficiaries impacted.
- Higher earners can expect a roughly 50 percent increase in IRMAA costs.
- The surcharge applies to those earning over $109,000 for singles and $218,000 for married couples, based on 2024 tax returns.
- People can appeal the IRMAA penalty with Form SSA-44 if they have had a life-changing event like retirement or divorce.
- The IRMAA surcharge is deducted directly from Social Security checks, affecting monthly income.
