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Costs & IRMAA

KFF: Medicare Part B Premiums Are on Track to Rise About 70 Percent by 2034, and Nearly Half of Beneficiaries Already Worry About Costs

A KFF analysis finds the standard Part B premium, now 2,435 dollars a year, is projected to reach roughly 4,170 dollars a year by 2034, while a 2026 poll shows 49 percent of Medicare enrollees expect health care costs to become less affordable.

By the Goodsurance editorial teamJuly 13, 2026

A KFF analysis of Medicare spending trends projects that the annualized standard Part B premium could increase by roughly 70 percent between 2026 and 2034, from 2,435 dollars to approximately 4,170 dollars per year. The annual Part B deductible is on a similar path, projected to rise from 283 dollars in 2026 to approximately 486 dollars by 2034.

KFF noted the standard Part B premium has roughly doubled over the past decade, climbing from an annualized level of 1,259 dollars in 2015 to 2,435 dollars in 2026. The current standard monthly rate is 202.90 dollars.

KFF projects Medicare Part B premiums could rise 70 percent by 2034. Nearly half of beneficiaries already expect health care costs to get harder to afford.

A 2026 KFF Health Tracking Poll found that 49 percent of Medicare beneficiaries ages 65 and older expect their health care costs to become less affordable in the coming year. A separate March 2026 KFF poll found that 50 percent of Medicare beneficiaries reported worrying about being able to afford prescription drugs for themselves or their families.

Previous KFF research found that more than 7 million Medicare Part B enrollees in 2024 spent more than 10 percent of their annual per capita income on Part B premiums alone, before accounting for other out-of-pocket costs.

KFF noted that traditional Medicare beneficiaries without supplemental coverage face no annual cap on out-of-pocket spending, making rising premiums and cost-sharing particularly significant for that group.

In plain words

A health policy research group called KFF says Medicare Part B premiums are going up fast. Right now, Part B costs about 202.90 dollars a month, or 2,435 dollars a year. By 2034, KFF projects the annual cost could reach about 4,170 dollars. That is a 70 percent increase. In the past 10 years, the premium has already doubled. A 2026 poll found that nearly half of Medicare enrollees worry costs will get harder to afford. Half also worry about paying for prescription drugs. More than 7 million enrollees already spend more than 10 percent of their income just on Part B premiums.

Understand the basics first

Source: KFF
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