How Medicare Part B could shrink your raise
If you’re on Medicare, part of your COLA will go to a higher Part B premium. The final 2027 premium has not been announced yet, but early estimates point to a much smaller bite than last year.
Most people enrolled in both Social Security and Medicare have their Part B premium taken straight out of their check. When the premium rises, your take-home raise is smaller than the COLA.
The standard Part B premium is $202.90 a month in 2026. The 2026 Medicare Trustees Report projects it will rise to about $209.50 in 2027, an increase of $6.60, according to Kiplinger. The Centers for Medicare & Medicaid Services (CMS) usually confirms the official figure in mid-November, so it could change.
If the projection holds, here is roughly what you would actually take home each month:
| 2026 monthly benefit | COLA increase | Part B increase (projected) | Net monthly raise |
|---|---|---|---|
| $1,500 | $54.00 | $6.60 | $47.40 |
| $2,000 | $72.00 | $6.60 | $65.40 |
| $3,000 | $108.00 | $6.60 | $101.40 |
That is better news than 2026, when the Part B premium jumped $17.90 and swallowed a large share of a smaller 2.8% COLA.
Keep a few caveats in mind:
- The premium may come in higher. Some private forecasters expect $216 to $219, citing past underestimates. At $219, the Part B increase would be $16.10 a month, not $6.60.
- Higher earners pay more. If your modified adjusted gross income on your 2025 tax return was above certain limits, you pay a surcharge called IRMAA on top of the standard premium.
- The hold-harmless rule protects some people. If the premium increase would make your net check smaller than last year’s, the law generally limits the increase so your check does not shrink. This mostly matters for people with smaller benefits.
- Medicare Advantage and Part D premiums are separate. If your plan premium is also deducted from your check, a change there affects your net raise too.
Your 2027 Medicare premium will appear in your my Social Security Message Center from late November, so you can see your exact net amount before January.
