Ben J. Mauldin | Feb 03 2026 22:19
Medicare & Social Security in 2026: How Income, COLA, and IRMAA Will Affect Your Benefits
Medicare & Social Security in 2026: How Income, COLA, and IRMAA Will Affect Your Benefits
Navigating the complexities of Medicare and Social Security is crucial for financial well-being in retirement. As we approach 2026, understanding the intricacies of Medicare and Social Security becomes increasingly vital for beneficiaries. These federal programs form the bedrock of financial security and healthcare access for millions of Americans, particularly seniors and individuals with disabilities.
This article explores how income levels, the Cost-of-Living Adjustment (COLA), and the Income-Related Monthly Adjustment Amount (IRMAA) will shape your benefits. With many individuals facing uncertainty regarding their financial futures, grasping these adjustments is essential for making informed decisions and planning proactively. This guide covers the official 2026 Medicare IRMAA brackets, the projected COLA increase, strategies to optimize your benefits — and now includes how
Mauldin Insurance Group can support you through these changes.
What Are the 2026 Medicare IRMAA Brackets and How Do They Affect Your Premiums?
The Income-Related Monthly Adjustment Amount (IRMAA) is a surcharge higher-income beneficiaries must pay on Medicare Part B and Part D premiums. IRMAA is based on your 2024 Modified Adjusted Gross Income (MAGI), pulled directly from IRS tax data.
Understanding where your income falls within the 2026 IRMAA brackets is crucial, as it can significantly increase your monthly healthcare costs.
Official 2026 Medicare IRMAA Brackets (Based on 2024 MAGI)
Part B and Part D – 2026 IRMAA Surcharges
| Filing Status
|
2024 MAGI Range
|
Part B Monthly Total
|
Part B IRMAA Surcharge
|
Part D IRMAA Surcharge
|
| Individual
|
≤ $109,000
|
$202.90
|
$0
|
$0
|
| Individual
|
$109,001–$137,000
|
$284.10
|
$81.20
|
$14.50
|
| Individual
|
$137,001–$171,000
|
$405.80
|
$202.90
|
$37.00
|
| Individual
|
$171,001–$205,000
|
$527.50
|
$324.60
|
$59.40
|
| Individual / Married Filing Jointly
|
Individual: $205,001–$499,999
|
|
|
|
| Joint: $410,001–$649,999
|
$649.20
|
$446.30
|
$81.80
|
|
| Individual / Married Filing Jointly
|
Individual: ≥ $500,000
|
|
|
|
| Joint: ≥ $650,000
|
$689.90
|
$487.00
|
$91.00
|
|
How Is IRMAA Calculated Using 2024 Income for 2026?
IRMAA is based on your
MAGI from two years prior, meaning your
2024 income determines your 2026 Medicare premiums. MAGI includes your adjusted gross income plus tax-exempt interest. Those exceeding the IRMAA thresholds will see higher Part B and Part D premiums.
What Strategies Can You Use to Appeal an IRMAA Decision?
If your income has dropped since 2024 due to specific life-changing events, you can appeal your IRMAA determination using form
SSA-44. Qualifying events include:
- Retirement
- Divorce or annulment
- Death of a spouse
- Loss of income-producing property
Submitting documentation promptly can help reduce your premiums.
How Will the 2026 Social Security COLA Increase Impact Your Benefits?
A projected
3.2% COLA increase will raise the average Social Security benefit, helping offset inflation. For example, an average $1,907 monthly benefit would rise by roughly $61.
However, increases in Medicare premiums — especially IRMAA surcharges — may reduce your net Social Security benefit.
What Are the 2026 Medicare Part B and Part D Premiums and Deductibles?
- Standard Part B Premium (2026): ~$202.90
- Part B Deductible (2026): $283
- Part D Out-of-Pocket Cap (2026): $2,000 (as mandated by the Inflation Reduction Act)
This new cap eliminates the catastrophic coverage phase, providing significant financial relief for beneficiaries with high medication expenses.
What Other Key Social Security Changes Should You Know for 2026?
2026 Social Security Taxable Maximum (Projected): $168,600
This represents the maximum income subject to Social Security tax.
Retirement Earnings Test (Projected)
- Under FRA: $22,320 (benefits reduced $1 for every $2 earned above limit)
- Year reaching FRA: $59,520 (reduced $1 for every $3 earned above limit)
How Can You Optimize Your Medicare and Social Security Benefits in 2026?
Income planning is essential, especially since IRMAA is based on a two-year lookback. Helpful strategies include:
- Tax-efficient withdrawals
- Roth conversions before Medicare enrollment
- QCDs from IRAs
- Tax-loss harvesting
- Delaying Social Security if still working
How Mauldin Insurance Group Can Help You Navigate 2026 Changes
The complexities of Medicare, IRMAA, and Social Security can feel overwhelming — but
you don’t have to navigate them alone. Mauldin Insurance Group provides:
✅ Personalized IRMAA Impact Analysis
We review your income sources and help forecast how 2026 IRMAA brackets may affect your premiums.
✅ Medicare Plan Comparison & Enrollment Support
We identify the most cost-effective Medicare Advantage, Medigap, and Part D plans based on your health needs and budget.
✅ Social Security Optimization Guidance
We help you evaluate when to claim benefits for maximum lifetime income.
✅ Appeal Assistance (SSA-44 Support)
If you experience a qualifying life-changing event, we guide you through the IRMAA appeal process and required documentation.
✅ Prescription Drug Cost Analysis
With the new $2,000 Part D cap, we help ensure your plan aligns with your medication needs.
✅ Ongoing Annual Reviews
As laws, premiums, and personal circumstances change, we revisit your plan each year to keep you optimized and avoid unnecessary costs.
With Mauldin Insurance Group, you gain a knowledgeable partner dedicated to protecting your financial well-being through every Medicare and Social Security change.
Conclusion: Navigate 2026 With Confidence
Understanding IRMAA, COLA, and Medicare premiums is essential for ensuring your financial stability in retirement. By proactively planning and using the right resources, you can avoid unexpected costs and optimize your benefits. Mauldin Insurance Group is here to help you stay informed, make strategic decisions, and secure your financial future.
If you're ready to take control of your Medicare and Social Security planning,
Mauldin Insurance Group is ready to guide you every step of the way.
Medicare & Social Security in 2026: How Income, COLA, and IRMAA Will Affect Your BenefitsNavigating the complexities of Medicare and Social Security is crucial for financial well-being in...