Good news for Medicare Part B beneficiaries: The projected rise in monthly premiums for next year would be the smallest percentage increase since 2023, according to a recently released Medicare trustees report.

Bad news: The premiums are projected to rise faster – more than double the rate, on average – for the next eight years.

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The annual trustee report projects a $209.50 monthly Part B premium for 2027, up from $202.90 this year. That 3.25% change is the smallest since a 3.06% decrease in 2023, which came after a record-setting 14.55% hike the previous year.

The rest of the Part B monthly premium projections from the report:

• 2028: $224.50
• 2029: $238.50
• 2030: $255.50
• 2031: $272.10
• 2032: $290.20
• 2033: $313.65
• 2034: $338.50
• 2035: $360.60

IRMAA Updates

The projections address the standard Part B rate, which is paid by the majority of Medicare beneficiaries. Those with income over certain thresholds pay an Income-Related Monthly Adjustment Amount (IRMAA) on top of the standard premium. In 2026, that amount ranged from $81.20 for individuals with annual income between $109,000 and $137,000 ($218,000-$274,000 for joint tax filers) to $487.00 for those with annual income at or above $500,000 ($750,000 for joint filers).

The trustees also estimated IRMAA rates through 2035 – see the full chart, from Page 209 of the report – but they do not set the income levels tied to each bracket. These are indexed to inflation except for the top bracket, which will remain at the $500,000/$750,000 threshold until 2028.

[MOAA EXPLAINER: What Is IRMAA, and What Does It Mean for My Medicare Premium?]

Year Over Year

This year’s projections dropped compared with last year’s annual report, which put the 2027 premium at $218.60. It also projected a $206.50 monthly premium for 2026, an estimate which ended up $4 higher than the actual cost.

Official 2027 rates, including IRMAA bracket amounts, will be announced in November.

Medicare and TRICARE For Life

If you’re about to age into Medicare/TRICARE For Life coverage (TRICARE For Life requires enrollment in Medicare Parts A and B or a Medicare Advantage Plan) and have questions, MOAA has answers.

Transitioning Into Medicare and TRICARE For Life is an online microsite and PDF download (MOAA.org login required) that includes a checklist to help prepare for your TRICARE For Life transition, how to use TFL along with other insurance, answers to frequently asked questions, and much more.

The guide is exclusive to MOAA Premium and Life members. Learn more about membership options, or log in to upgrade your membership.