Medicare Part B: Medical Insurance
Last reviewed: June 2026 · Reviewed by Galit Sacajiu MD, MPH
Medicare Part B is medical insurance — it covers the services you receive outside of a hospital: doctor visits, outpatient care, preventive screenings, and durable medical equipment. The standard 2026 premium is $202.90 per month.
⚠️ Part B is Optional — But Skipping Has Consequences
If you don't enroll in Part B when first eligible and don't have qualifying employer coverage, you'll pay a 10% lifetime late enrollment penalty added to your premium for every 12 months you delayed. Enroll during your Initial Enrollment Period (7-month window around your 65th birthday) to avoid this.
What Medicare Part B Covers
2026 Part B Costs
| Cost Type | 2026 Amount |
|---|---|
| Standard monthly premium | $202.90 |
| Annual deductible | $283 |
| Coinsurance after deductible | 20% of Medicare-approved amount |
| Hospital outpatient copay | Varies by service |
| Preventive services | $0 (no deductible required) |
💡 The 20% Problem
After meeting the $283 deductible, Part B covers 80% of Medicare-approved costs — you pay the remaining 20%. There is no cap on your 20% in Original Medicare.
For a $100,000 surgery, you could owe $20,000. A Medicare Supplement plan or Medicare Advantage plan protects you from this exposure.
IRMAA: Higher Earners Pay More
If your income exceeds certain thresholds, you pay an Income-Related Monthly Adjustment Amount (IRMAA) on top of the standard premium. IRMAA is based on your income from 2 years ago.
| Individual Income | Joint Income | Monthly Premium |
|---|---|---|
| ≤ $106,000 | ≤ $212,000 | $202.90 |
| $106,001–$133,000 | $212,001–$266,000 | $285.90 |
| $133,001–$167,000 | $266,001–$334,000 | $374.20 |
| $167,001–$200,000 | $334,001–$400,000 | $459.40 |
| $200,001–$500,000 | $400,001–$750,000 | $544.60 |
| > $500,000 | > $750,000 | $594.10 |