Medicare's 2027 Part B Premium Is Projected Around $209.50 — What to Do Before Open Enrollment
The 2026 Medicare Trustees Report projects a 2027 Part B premium near $209.50, up from $202.90 today. Here's how that interacts with your Social Security COLA, and what to check before open enrollment opens October 15.
The 2026 Medicare Trustees Report projects the standard Part B premium at roughly $209.50 a month for 2027, up from the confirmed $202.90 in 2026. That's a projection — CMS confirms the official number in the fall.
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About the Author
Sujit KarkiFinance Researcher & Market Analyst
Independent finance researcher and market analyst with expertise in macroeconomics, equity markets, and personal finance. I help regular investors make better-informed decisions through rigorous, data-driven analysis.
If you're on Medicare or getting close to it, two numbers move every year in opposite directions on your monthly check: your Social Security cost-of-living adjustment, and your Part B premium. Here's what's projected for 2027 and how to think about the interaction before open enrollment.
Key Takeaways
The 2026 Medicare Trustees Report projects the 2027 standard Part B premium near $209.50/month, up from $202.90 in 2026.
That figure is a projection — CMS typically confirms the actual 2027 premium in the fall.
Your Social Security COLA and your Part B premium increase both hit the same monthly check, in opposite directions.
Open enrollment runs October 15 through December 7, separate from the Part B premium announcement.
Higher earners should also watch IRMAA, the income-related surcharge layered on top of the standard premium.
The projection
The Medicare Trustees' 2026 report projects the standard Part B premium at roughly $209.50 a month for 2027, up from the confirmed $202.90 in 2026 — a smaller percentage jump than 2026's own increase over the prior year. The Trustees also project the Part D base premium around $41.33.
Item
2026 (confirmed)
2027 (projected)
Part B standard premium
$202.90/mo
~$209.50/mo
Part D base premium
—
~$41.33/mo
Status
Official
Trustees Report projection
It's only a projection until November
Every year, the Trustees Report gives an early estimate for the following year's Part B premium, and every year the actual number — set by the Centers for Medicare & Medicaid Services — can land higher or lower once final program spending data is in. Treat the $209.50 figure as a well-informed estimate, not a locked number, until CMS makes its official announcement, typically in the fall.
Note
Last year's early Trustees projection for the following year came in higher than what CMS eventually confirmed. Projections can move in either direction — don't lock your budget around the estimate alone.
The COLA offset problem
Here's the mechanic that trips people up every year. Your Social Security cost-of-living adjustment is a percentage of your current benefit. Your Part B premium increase is a flat dollar amount, usually deducted directly from that same benefit check. Those two numbers don't automatically net out in your favor — the smaller your benefit, the more a flat premium increase eats into a percentage-based raise.
This is illustrative for one example benefit level — your own split depends entirely on your specific benefit amount and the year's final COLA and premium figures.
IRMAA and open enrollment
Higher-income beneficiaries pay more than the standard Part B premium through IRMAA, the income-related monthly adjustment amount, based on your income from two years prior — so your 2027 IRMAA bracket is determined by your 2025 income. If you've had a life-changing event since then — retirement, divorce, the death of a spouse — you can request a reconsideration rather than accept a bracket based on outdated income.
Separately, Medicare's annual open enrollment window runs October 15 through December 7, during which you can switch between Original Medicare and Medicare Advantage, or change your Part D drug plan. This window is unrelated to when the Part B premium itself is announced, but the two tend to get discussed together every fall.
Model your net raise
Interactive · COLA vs. Part B
What's left of your raise after Part B
Current monthly benefit$2,071
COLA (projected)3.2%
A 3.2% COLA adds $0/mo, but the projected Part B increase of $0/mo eats into it, leaving a net raise of $0/mo.
Gross COLA raise$66.27/mo
Net raise after Part B increase$59.67/mo
The 2027 Part B premium is a Trustees Report projection — CMS confirms the actual figure around November. IRMAA surcharges for higher earners aren't included here.
Don't finalize your 2027 budget around the Trustees Report number alone. Wait for CMS's official confirmation before treating it as fixed.
Check your IRMAA exposure now if your income is near a bracket threshold. A modest change in reported income can push you into a higher surcharge tier.
Use the open enrollment window deliberately. Compare your current Medicare Advantage or Part D plan against alternatives every year — formularies and provider networks change even when you don't.
If your income dropped since 2025, file for an IRMAA reconsideration rather than assuming you're stuck with a bracket based on higher, outdated income.
Think of the COLA and Part B premium as one combined number, not two separate pieces of good and bad news — your real raise is the net of both.
For the COLA side of this equation in more depth, see my 2027 Social Security COLA breakdown; for the broader affordability picture heading into next year, see the 2027 ACA subsidy cliff. If you're weighing a Roth conversion before or during retirement, IRMAA is the Medicare-specific wrinkle to check first — see Roth conversions and the IRMAA cliff. And if you're still working and choosing between an HSA and FSA at open enrollment, that comparison for 2027 covers the pre-Medicare pretax accounts.
FAQ
Frequently Asked Questions
The 2026 Medicare Trustees Report projects the standard Part B premium at roughly $209.50 a month for 2027, up from the confirmed $202.90 in 2026. That's a projection — CMS confirms the official number in the fall.
Sujit Karki||4 min read