Federal Register, Volume 90 Issue 221 (Wednesday, November 19, 2025)

[Federal Register Volume 90, Number 221 (Wednesday, November 19, 2025)]
[Notices]
[Pages 52063-52074]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-20251]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Centers for Medicare & Medicaid Services

[CMS-8091-N]
RIN 0938-AV56

Medicare Program; Medicare Part B Monthly Actuarial Rates,
Premium Rates, and Annual Deductible Beginning January 1, 2026

AGENCY: Centers for Medicare & Medicaid Services (CMS), Department of
Health and Human Services (HHS).

ACTION: Notice.

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SUMMARY: This notice announces the monthly actuarial rates for aged
(age 65 and over) and disabled (under age 65) beneficiaries enrolled in
Part B of the Medicare Supplementary Medical Insurance (SMI) program
beginning January 1, 2026. In addition, this notice announces the
monthly premium for aged and disabled beneficiaries, the deductible for
2026, and the income-related monthly adjustment amounts to be paid by
beneficiaries with modified adjusted gross income above certain
threshold amounts. The monthly actuarial rates for 2026 are $405.40 for
aged enrollees and $548.60 for disabled enrollees. The standard monthly
Part B premium rate for all enrollees for 2026 is $202.90, which is
equal to 50 percent of the monthly actuarial rate for aged enrollees
(or approximately 25 percent of the expected average total cost of Part
B coverage for aged enrollees) plus the $0.20 repayment amount required
under current law. (The 2026 premium is 9.7 percent or $17.90 higher
than the 2025 standard premium rate of $185.00.) The Part B deductible
for 2026 is $283.00 for all Part B beneficiaries. If a beneficiary has
to pay an income-related monthly adjustment amount, that individual
will have to pay a total monthly premium of about 35, 50, 65, 80, or 85
percent of the total cost of Part B coverage plus a repayment amount of
$0.30, $0.40, $0.50, $0.60, or $0.70, respectively. Beginning in 2023,
certain Medicare enrollees who are 36 months post kidney transplant,
and therefore no longer eligible for full Medicare coverage, can elect
to continue Part B coverage of immunosuppressive drugs by paying a
premium. For 2026, the immunosuppressive drug premium is $121.60.

DATES: January 1, 2026.

FOR FURTHER INFORMATION CONTACT: M. Kent Clemens, (410) 786-6391.

SUPPLEMENTARY INFORMATION:

[[Page 52064]]

I. Background

Part B is the voluntary portion of the Medicare program that pays
all or part of the costs for physicians' services; outpatient hospital
services; certain home health services; services furnished by rural
health clinics, ambulatory surgical centers, and comprehensive
outpatient rehabilitation facilities; and certain other medical and
health services not covered by Medicare Part A, Hospital Insurance.
Medicare Part B is available to individuals who are entitled to
Medicare Part A, as well as to U.S. residents who have attained age 65
and are citizens and to non-citizens who were lawfully admitted for
permanent residence and have resided in the United States for 5
consecutive years. Part B requires enrollment and payment of monthly
premiums, as described in 42 CFR part 407, subpart B, and part 408,
respectively. The premiums paid by (or on behalf of) all enrollees fund
approximately one-fourth of the total incurred costs, and transfers
from the general fund of the Treasury pay approximately three-fourths
of these costs.
The Secretary of Health and Human Services (the Secretary) is
required by section 1839 of the Social Security Act (the Act) to
announce the Part B monthly actuarial rates for aged and disabled
beneficiaries as well as the monthly Part B premium. The Part B annual
deductible, income-related monthly adjustment amounts, and
immunosuppressive drug premium are included because their
determinations are directly linked to the aged actuarial rate.
The monthly actuarial rates for aged and disabled enrollees are
used to determine the correct amount of general revenue financing per
beneficiary each month. These amounts, according to actuarial
estimates, will equal, respectively, one-half of the expected average
monthly cost of Part B for each aged enrollee (age 65 or over) and one-
half of the expected average monthly cost of Part B for each disabled
enrollee (under age 65).
The Part B deductible to be paid by enrollees is also announced.
Prior to the Medicare Prescription Drug, Improvement, and Modernization
Act of 2003 (MMA) (Pub. L. 108-173), the Part B deductible was set in
statute. After setting the 2005 deductible amount at $110.00, section
629 of the MMA (amending section 1833(b) of the Act) required that the
Part B deductible be indexed beginning in 2006. The inflation factor to
be used each year is the annual percentage increase in the Part B
actuarial rate for enrollees age 65 and over. Specifically, the 2026
Part B deductible is calculated by multiplying the 2025 deductible by
the ratio of the 2026 aged actuarial rate to the 2025 aged actuarial
rate. The amount determined under this formula is then rounded to the
nearest $1.00.
The monthly Part B premium rate to be paid by aged and disabled
enrollees is also announced. (Although the costs to the program per
disabled enrollee are different than for the aged, the statute provides
that the two groups pay the same premium amount.) Beginning with the
passage of section 203 of the Social Security Amendments of 1972 (Pub.
L. 92-603), the premium rate, which was determined on a fiscal-year
basis, was limited to the lesser of the actuarial rate for aged
enrollees, or the current monthly premium rate increased by the same
percentage as the most recent general increase in monthly Title II
Social Security benefits.
However, the passage of section 124 of the Tax Equity and Fiscal
Responsibility Act of 1982 (TEFRA) (Pub. L. 97-248) suspended this
premium determination process. Section 124 of TEFRA changed the premium
basis to 50 percent of the monthly actuarial rate for aged enrollees
(that is, 25 percent of program costs for aged enrollees). Section 606
of the Social Security Amendments of 1983 (Pub. L. 98-21), section 2302
of the Deficit Reduction Act of 1984 (DEFRA 84) (Pub. L. 98-369),
section 9313 of the Consolidated Omnibus Budget Reconciliation Act of
1985 (COBRA 85) (Pub. L. 99-272), section 4080 of the Omnibus Budget
Reconciliation Act of 1987 (OBRA 87) (Pub. L. 100-203), and section
6301 of the Omnibus Budget Reconciliation Act of 1989 (OBRA 89) (Pub.
L. 101-239) extended the provision that the premium be based on 50
percent of the monthly actuarial rate for aged enrollees (that is, 25
percent of program costs for aged enrollees). This extension expired at
the end of 1990.
The premium rate for 1991 through 1995 was legislated by section
1839(e)(1)(B) of the Act, as added by section 4301 of the Omnibus
Budget Reconciliation Act of 1990 (OBRA 90) (Pub. L. 101-508). In
January 1996, the premium determination basis would have reverted to
the method established by the 1972 Social Security Act Amendments.
However, section 13571 of the Omnibus Budget Reconciliation Act of 1993
(OBRA 93) (Pub. L. 103-66) changed the premium basis to 50 percent of
the monthly actuarial rate for aged enrollees (that is, 25 percent of
program costs for aged enrollees) for 1996 through 1998.
Section 4571 of the Balanced Budget Act of 1997 (BBA) (Pub. L. 105-
33) permanently extended the provision that the premium be based on 50
percent of the monthly actuarial rate for aged enrollees (that is, 25
percent of program costs for aged enrollees).
The BBA included a further provision affecting the calculation of
the Part B actuarial rates and premiums for 1998 through 2003. Section
4611 of the BBA modified the home health benefit payable under Part A
for individuals enrolled in Part B. Under this section, beginning in
1998, expenditures for home health services not considered ``post-
institutional'' are payable under Part B rather than Part A. However,
section 4611(e)(1) of the BBA required that there be a transition from
1998 through 2002 for the aggregate amount of the expenditures
transferred from Part A to Part B. Section 4611(e)(2) of the BBA also
provided a specific yearly proportion for the transferred funds. The
proportions were one-sixth for 1998, one-third for 1999, one-half for
2000, two-thirds for 2001, and five-sixths for 2002. For the purpose of
determining the correct amount of financing from general revenues of
the Federal Government, it was necessary to include only these
transitional amounts in the monthly actuarial rates for both aged and
disabled enrollees, rather than the total cost of the home health
services being transferred.
Section 4611(e)(3) of the BBA also specified, for the purpose of
determining the premium, that the monthly actuarial rate for enrollees
age 65 and over be computed as though the transition would occur for
1998 through 2003 and that one-seventh of the cost be transferred in
1998, two-sevenths in 1999, three-sevenths in 2000, four-sevenths in
2001, five-sevenths in 2002, and six-sevenths in 2003. Therefore, the
transition period for incorporating this home health transfer into the
premium was 7 years while the transition period for including these
services in the actuarial rate was 6 years.
Section 811 of the MMA, which amended section 1839 of the Act,
requires that, starting on January 1, 2007, the Part B premium a
beneficiary pays each month be based on that individual's annual
income. (The MMA specified that there be a 5-year transition period to
reach full implementation of this provision. However, section 5111 of
the Deficit Reduction Act of 2005 (DRA) (Pub. L. 109-171) modified the
transition to a 3-year period, which ended in 2009.) Specifically, if a
beneficiary's modified adjusted gross income is greater than the
legislated threshold amounts (for 2026,

[[Page 52065]]

$109,000 for a beneficiary filing an individual income tax return and
$218,000 for a beneficiary filing a joint tax return), the beneficiary
is responsible for a larger portion of the estimated total cost of Part
B benefit coverage. In addition to the standard 25-percent premium,
these beneficiaries now have to pay an income-related monthly
adjustment amount. The MMA made no change to the actuarial rate
calculation, and the standard premium, which will continue to be paid
by beneficiaries whose modified adjusted gross income is below the
applicable thresholds, still represents 25 percent of the estimated
total cost to the program of Part B coverage for an aged enrollee.
However, depending on income and tax filing status, a beneficiary can
now be responsible for 35, 50, 65, 80, or 85 percent of the estimated
total cost of Part B coverage, rather than 25 percent. Section 402 of
the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) (Pub.
L. 114-10) modified the income thresholds beginning in 2018, and
section 53114 of the Bipartisan Budget Act of 2018 (BBA of 2018) (Pub.
L. 115-123) further modified the income thresholds beginning in 2019.
For years beginning in 2019, the BBA of 2018 established a new income
threshold. If a beneficiary's modified adjusted gross income is greater
than or equal to $500,000 for a beneficiary filing an individual income
tax return and $750,000 for a beneficiary filing a joint tax return,
the beneficiary is responsible for 85 percent of the estimated total
cost of Part B coverage. The BBA of 2018 specified that these new
income threshold levels be inflation-adjusted beginning in 2028. The
result of the higher premium is that the Part B premium subsidy is
reduced, and less general revenue financing is required, for
beneficiaries with higher income because they are paying a larger share
of the total cost with their premium. That is, the premium subsidy
continues to be approximately 75 percent for beneficiaries with income
below the applicable income thresholds, but it will be reduced for
beneficiaries with income above these thresholds.
The Consolidated Appropriations Act, 2021 (Pub. L. 116-260)
established a new basis for Medicare Part B eligibility for post-
kidney-transplant immunosuppressive drug coverage only. Medicare
eligibility due solely to end-stage renal disease generally ends 36
months after a successful kidney transplant. Beginning in 2023, post-
kidney-transplant individuals without certain types of insurance
coverage can elect to enroll in Part B and receive coverage of
immunosuppressive drugs only. The premium for this continuation of
coverage is 15 percent of a different aged actuarial rate, which is
equal to 100 percent of the costs for aged enrollees (rather than the
standard aged actuarial rate, which is equal to one-half of the costs
for aged enrollees). Enrollees paying the immunosuppressive premium are
not subject to the late enrollment penalty and the $3.00 repayment
amounts, but they are subject to the hold-harmless provision (described
later) and the income-related monthly adjustment amounts. The law
requires transfers equal to the reduction in aggregate premiums payable
that results from enrollees with coverage only for immunosuppressive
drugs paying the immunosuppressive drug Part B premium rather than the
standard Part B premium. These transfers are to be treated as premiums
payable for general revenue matching purposes.
Section 4732(c) of the BBA added section 1933(c) of the Act, which
required the Secretary to allocate money from the Part B trust fund to
the State Medicaid programs for the purpose of providing Medicare Part
B premium assistance from 1998 through 2002 for the low-income Medicaid
beneficiaries who qualify under section 1933 of the Act. This
allocation, while not a benefit expenditure, was an expenditure of the
trust fund and was included in calculating the Part B actuarial rates
through 2002. For 2003 through 2015, the expenditure was made from the
trust fund because the allocation was temporarily extended. However,
because the extension occurred after the financing was determined, the
allocation was not included in the calculation of the financing rates
for these years. Section 211 of MACRA permanently extended this
expenditure, which is included in the calculation of the Part B
actuarial rates for 2016 and subsequent years.
Another provision affecting the calculation of the Part B premium
is section 1839(f) of the Act, as amended by section 211 of the
Medicare Catastrophic Coverage Act of 1988 (MCCA 88) (Pub. L. 100-360).
(The Medicare Catastrophic Coverage Repeal Act of 1989 (Pub. L. 101-
234) did not repeal the revisions to section 1839(f) of the Act made by
MCCA 88.) Section 1839(f) of the Act, referred to as the hold-harmless
provision, provides that, if an individual is entitled to benefits
under section 202 or 223 of the Act (the Old-Age and Survivors
Insurance Benefit and the Disability Insurance Benefit, respectively)
and has the Part B premium deducted from these benefit payments, the
premium increase will be reduced, if necessary, to avoid causing a
decrease in the individual's net monthly payment. This decrease in
payment occurs if the increase in the individual's Social Security
benefit resulting from the cost-of-living adjustment under section
215(i) of the Act is less than the increase in the premium.
Specifically, the reduction in the premium amount applies if the
individual is entitled to benefits under section 202 or 223 of the Act
for November and December of a particular year and the individual's
Part B premiums for December and the following January are deducted
from the respective month's section 202 or 223 benefits. The hold-
harmless provision does not apply to beneficiaries who are required to
pay an income-related monthly adjustment amount.
A check for benefits under section 202 or 223 of the Act is
received in the month following the month for which the benefits are
due. The Part B premium that is deducted from a particular check is the
Part B payment for the month in which the check is received. Therefore,
a benefit check for November is not received until December, but
December's Part B premium has been deducted from it.
Generally, if a beneficiary qualifies for hold-harmless protection,
the reduced premium for the individual for that January and for each of
the succeeding 11 months is the greater of either--
The monthly premium for January reduced as necessary to
make the December monthly benefits, after the deduction of the Part B
premium for January, at least equal to the preceding November's monthly
benefits, after the deduction of the Part B premium for December; or
The monthly premium for that individual for that December.
In determining the premium limitations under section 1839(f) of the
Act, the monthly benefits to which an individual is entitled under
section 202 or 223 of the Act do not include retroactive adjustments or
payments and deductions on account of work. Also, once the monthly
premium amount is established under section 1839(f) of the Act, it will
not be changed during the year even if there are retroactive
adjustments or payments and deductions on account of work that apply to
the individual's monthly benefits.
Individuals who have enrolled in Part B late or who have re-
enrolled after the termination of a coverage period are subject to an
increased premium under section 1839(b) of the Act. The increase is a
percentage of the premium and is

[[Page 52066]]

based on the new premium rate before any reductions under section
1839(f) of the Act are made.
Section 1839 of the Act, as amended by section 601(a) of the
Bipartisan Budget Act of 2015 (Pub. L. 114-74), specified that the 2016
actuarial rate for enrollees age 65 and older be determined as if the
hold-harmless provision did not apply. The premium revenue that was
lost by using the resulting lower premium (excluding the forgone
income-related premium revenue) was replaced by a transfer of general
revenue from the Treasury, which will be repaid over time to the
general fund.
Similarly, section 1839 of the Act, as amended by section 2401 of
the Continuing Appropriations Act, 2021 and Other Extensions Act (Pub.
L. 116-159), specified that the 2021 actuarial rate for enrollees age
65 and older be determined as the sum of the 2020 actuarial rate for
enrollees age 65 and older and one-fourth of the difference between the
2020 actuarial rate and the preliminary 2021 actuarial rate (as
determined by the Secretary) for such enrollees. The premium revenue
lost by using the resulting lower premium (excluding the forgone
income-related premium revenue) was replaced by a transfer of general
revenue from the Treasury, which will be repaid over time.
Starting in 2016, in order to repay the balance due (which includes
the transfer amounts and the forgone income-related premium revenue
from the Bipartisan Budget Act of 2015 and the Continuing
Appropriations Act, 2021 and Other Extensions Act), the Part B premium
otherwise determined will be increased by $3.00. The 2026 repayment
amount is $0.20 and will mark the final amounts collected to fully
repay the balance due. The repayment amounts will be added to the Part
B premium otherwise determined each year and will be paid back to the
general fund of the Treasury.
High-income enrollees pay the $0.20 repayment amount plus an
additional $0.30, $0.40, $0.50, $0.60, or $0.70 in repayment as part of
the income-related monthly adjustment amount (IRMAA) premium dollars,
which reduce (dollar for dollar) the amount of general revenue received
by Part B from the general fund of the Treasury. Because of this
general revenue offset, the repayment IRMAA premium dollars are not
included in the direct repayments made to the general fund of the
Treasury from Part B in order to avoid a double repayment. (Only the
$0.20 monthly repayment amounts are included in the direct repayments.)
The repayment amounts (excluding those for high-income enrollees)
are subject to the hold-harmless provision. The original balance due
was $9,066,409,000, consisting of $1,625,761,000 in forgone income-
related premium revenue plus a transfer amount of $7,440,648,000 from
the provisions of the Bipartisan Budget Act of 2015. The increase in
the balance due in 2021 was $8,799,829,000, consisting of $946,046,000
in forgone income-related premium income plus a transfer amount of
$7,853,783,000 from the provisions of the Continuing Appropriations
Act, 2021 and Other Extensions Act. The balance due is expected to be
zero by the end of 2026.

II. Provisions of the Notice

A. Notice of Medicare Part B Monthly Actuarial Rates, Monthly Premium
Rates, and Annual Deductible

The Medicare Part B monthly actuarial rates applicable for 2026 are
$405.40 for enrollees age 65 and over and $548.60 for disabled
enrollees under age 65. In section II.B. of this notice, we present the
actuarial assumptions and bases from which these rates are derived. The
Part B standard monthly premium rate for all enrollees for 2026 is
$202.90. The Part B immunosuppressive drug premium is $121.60.
The following are the 2026 Part B monthly premium rates to be paid
by (or on behalf of) beneficiaries with full Part B coverage who file
either individual tax returns (and are single individuals, heads of
households, qualifying widows or widowers with dependent children, or
married individuals filing separately who lived apart from their
spouses for the entire taxable year) or joint tax returns.

Full Part B Coverage
----------------------------------------------------------------------------------------------------------------
Beneficiaries who file joint
Beneficiaries who file individual tax tax returns with modified Income-related Total monthly
returns with modified adjusted gross adjusted gross income: monthly adjustment premium amount
income: amount
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Less than or equal to $109,000............ Less than or equal to $0.00 $202.90
$218,000.
Greater than $109,000 and less than or Greater than $218,000 and 81.20 284.10
equal to $137,000. less than or equal to
$274,000.
Greater than $137,000 and less than or Greater than $274,000 and 202.90 405.80
equal to $171,000. less than or equal to
$342,000.
Greater than $171,000 and less than or Greater than $342,000 and 324.60 527.50
equal to $205,000. less than or equal to
$410,000.
Greater than $205,000 and less than Greater than $410,000 and 446.30 649.20
$500,000. less than $750,000.
Greater than or equal to $500,000......... Greater than or equal to 487.00 689.90
$750,000.
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For beneficiaries with immunosuppressive drug only Part B coverage
who file either individual tax returns (and are single individuals,
heads of households, qualifying widows or widowers with dependent
children, or married individuals filing separately who lived apart from
their spouses for the entire taxable year) or joint tax returns, the
2026 Part B monthly premium rates are as follows:

Part B Immunosuppressive Drug Coverage Only
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Beneficiaries who file joint
Beneficiaries who file individual tax tax returns with modified Income-related Total monthly
returns with modified adjusted gross adjusted gross income: monthly adjustment premium amount
income: amount
----------------------------------------------------------------------------------------------------------------
Less than or equal to $109,000............ Less than or equal to $0.00 $121.60
$218,000.
Greater than $109,000 and less than or Greater than $218,000 and 81.10 202.70
equal to $137,000. less than or equal to
$274,000.
Greater than $137,000 and less than or Greater than $274,000 and 202.70 324.30
equal to $171,000. less than or equal to
$342,000.
Greater than $171,000 and less than or Greater than $342,000 and 324.30 445.90
equal to $205,000. less than or equal to
$410,000.
Greater than $205,000 and less than Greater than $410,000 and 445.90 567.50
$500,000. less than $750,000.
Greater than or equal to $500,000......... Greater than or equal to 486.50 608.10
$750,000.
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[[Page 52067]]

In addition, the monthly premium rates to be paid by (or on behalf
of) beneficiaries with full Part B coverage who are married and lived
with their spouses at any time during the taxable year, but who file
separate tax returns from their spouses, are as follows:

Full Part B Coverage
------------------------------------------------------------------------
Beneficiaries who are married
and lived with their spouses at
any time during the year, but Income-related Total monthly
who file separate tax returns monthly adjustment premium amount
from their spouses, with amount
modified adjusted gross income:
------------------------------------------------------------------------
Less than or equal to $109,000.. $0.00 $202.90
Greater than $109,000 and less 446.30 649.20
than $391,000..................
Greater than or equal to 487.00 689.90
$391,000.......................
------------------------------------------------------------------------

The monthly premium rates to be paid by (or on behalf of)
beneficiaries with immunosuppressive drug only Part B coverage who are
married and lived with their spouses at any time during the taxable
year, but who file separate tax returns from their spouses, are as
follows:

Part B Immunosuppressive Drug Coverage Only
------------------------------------------------------------------------
Beneficiaries who are married
and lived with their spouses at
any time during the year, but Income-related Total monthly
who file separate tax returns monthly adjustment premium amount
from their spouses, with amount
modified adjusted gross income:
------------------------------------------------------------------------
Less than or equal to $109,000.. $0.00 $121.60
Greater than $109,000 and less 445.90 567.50
than $391,000..................
Greater than or equal to 486.50 608.10
$391,000.......................
------------------------------------------------------------------------

The Part B annual deductible for 2026 is $283.00 for all
beneficiaries.

B. Statement of Actuarial Assumptions and Bases Employed in Determining
the Monthly Actuarial Rates and the Monthly Premium Rate for Part B
Beginning January 2026

The actuarial assumptions and bases used to determine the monthly
actuarial rates and the monthly premium rates for Part B are
established by the Centers for Medicare & Medicaid Services' (CMS')
Office of the Actuary (OACT). The estimates underlying these
determinations are prepared by actuaries meeting the qualification
standards and following the actuarial standards of practice established
by the Actuarial Standards Board.
1. Actuarial Status of the Part B Account in the Supplementary Medical
Insurance Trust Fund
Under section 1839 of the Act, the starting point for determining
the standard monthly premium is the amount that would be necessary to
finance Part B on an incurred basis. This is the amount of income that
would be sufficient to pay for services furnished during that year
(including associated administrative costs) even though payment for
some of these services will not be made until after the close of the
year. The portion of income required to cover benefits not paid until
after the close of the year is added to the trust fund and used when
needed.
Because the premium rates are established prospectively, they are
subject to projection error. Additionally, legislation enacted after
the financing was established, but effective for the period in which
the financing is set, may affect program costs. As a result, the income
to the program may not equal incurred costs. Trust fund assets must
therefore be maintained at a level that is adequate to cover an
appropriate degree of variation between actual and projected costs, and
the amount of incurred, but unpaid, expenses. Numerous factors
determine what level of assets is appropriate to cover variation
between actual and projected costs. For 2026, the three most important
of these factors are: (1) the difference from prior years between the
actual performance of the program and estimates made at the time
financing was established; (2) the likelihood and potential magnitude
of expenditure changes resulting from enactment of legislation
affecting Part B costs in a year subsequent to the establishment of
financing for that year; and (3) the expected relationship between
incurred and cash expenditures.
Table 1 summarizes the estimated actuarial status of the trust fund
as of the end of the financing period for 2024 and 2025.

Table 1--Estimated Actuarial Status of the Part B Account in the Supplementary Medical Insurance Trust Fund as
of the End of the Financing Period
----------------------------------------------------------------------------------------------------------------
Assets less
Financing period ending Assets \1\ (in Liabilities \2\ liabilities \1\
millions) (in millions) (in millions)
----------------------------------------------------------------------------------------------------------------
December 31, 2024................................... $151,664 $39,862 $111,801
December 31, 2025................................... 144,774 43,201 101,574
----------------------------------------------------------------------------------------------------------------
\1\ Includes remedy payments of $10.5 billion to 340B drug providers.
\2\ These amounts include only items incurred but not paid. They do not include the amounts that are to be paid
back to the general fund of the Treasury over time as specified by section 1839 of the Act as amended by
section 601(a) of the Bipartisan Budget Act of 2015 and further amended by section 2401 of the Continuing
Appropriations Act, 2021 and Other Extensions Act, nor do they include the Accelerated and Advance Payments
Program amounts that are to be repaid by providers and returned to the general fund of the Treasury.

[[Page 52068]]

2. Monthly Actuarial Rate for Enrollees Age 65 and Older
The monthly actuarial rate for enrollees age 65 and older is one-
half of the sum of monthly amounts for: (1) the projected cost of
benefits; and (2) administrative expenses for each enrollee age 65 and
older, after adjustments to this sum to allow for interest earnings on
assets in the trust fund and an adequate contingency margin. The
contingency margin is to be an amount appropriate to provide for
possible variation between actual and projected costs and to amortize
any surplus assets or unfunded liabilities.
The monthly actuarial rate for enrollees age 65 and older for 2026
is determined by first establishing per enrollee costs by type of
service from program data through 2024 and then projecting these costs
for subsequent years. The projection factors used for financing periods
from January 1, 2023 through December 31, 2026 are shown in Table 2 and
reflect the skin substitute policies included in the calendar year 2026
Physician Fee Schedule final rule (90 FR 49486).
As indicated in Table 3, the projected per enrollee amount required
to pay for one-half of the total of benefits and administrative costs
for enrollees age 65 and over for 2026 is $398.21. The monthly
actuarial rate of $405.40 provides an adjustment of $10.44 for a
contingency margin and -$3.24 for interest earnings.
Starting in 2011, manufacturers and importers of brand-name
prescription drugs pay a fee that is allocated to the Part B account of
the SMI trust fund. For 2026, the total of these brand-name drug fees
is estimated to be $2.8 billion. The contingency margin for 2026 has
been reduced to account for this additional revenue.
The traditional goal for the Part B reserve has been that assets
minus liabilities at the end of a year should represent between 15 and
20 percent of the following year's total incurred expenditures. To
accomplish this goal, a 17-percent reserve ratio, which is a fully
adequate contingency reserve level, has been the normal target used to
calculate the Part B premium. At the end of 2025, the reserve ratio is
expected to be 16.0 percent. When the reserve ratio is somewhat below
17 percent, the typical approach in the premium determination is to
target a reserve ratio of 17 percent the following year. OACT has
estimated that a target reserve ratio of 14 percent is the minimally
financially adequate level for the Part B premium determination. The
2026 financing targets a 17-percent reserve ratio.
The actuarial rate of $405.40 per month for aged beneficiaries, as
announced in this notice for 2026, reflects the combined effect of the
factors and legislation previously described and the projected
assumptions listed in Table 2.
3. Monthly Actuarial Rate for Disabled Enrollees
Disabled enrollees are those persons under age 65 who are enrolled
in Part B because of entitlement to Social Security disability benefits
for more than 24 months or because of entitlement to Medicare under the
End-stage Renal Disease (ESRD) program. Projected monthly costs for
disabled enrollees (other than those with ESRD) are prepared in a
manner parallel to the projection for the aged using appropriate
actuarial assumptions (see Table 2). Costs for the ESRD program are
projected differently because of the different nature of services
offered by the program.
As shown in Table 4, the projected per enrollee amount required to
pay for one-half of the total of benefits and administrative costs for
disabled enrollees for 2026 is $513.50. The monthly actuarial rate of
$548.60 also provides an adjustment of -$4.31 for interest earnings and
$39.41 for a contingency margin, reflecting the same factors described
previously for the aged actuarial rate at magnitudes applicable to the
disabled rate determination. Based on current estimates, the assets
associated with the disabled Medicare beneficiaries at the end of 2025
are not sufficient to cover the amount of incurred, but unpaid,
expenses and to provide for a significant degree of variation between
actual and projected costs, and accordingly a positive margin is
needed.
The actuarial rate of $548.60 per month for disabled beneficiaries,
as announced in this notice for 2026, reflects the combined net effect
of the factors described previously for aged beneficiaries and the
projection assumptions listed in Table 2.
4. Sensitivity Testing
Several factors contribute to uncertainty about future trends in
medical care costs. It is appropriate to test the adequacy of the rates
using alternative cost growth rate assumptions, the results of which
are shown in Table 5. One set represents increases that are higher and,
therefore, more pessimistic than the current estimate, and the other
set represents increases that are lower and, therefore, more optimistic
than the current estimate. The values for the alternative assumptions
were determined from a statistical analysis of the historical variation
in the respective increase factors.
As indicated in Table 5, the monthly actuarial rates would result
in an excess of assets over liabilities of $120,996 million by the end
of December 2026 under the cost growth rate assumptions shown in Table
2 and under the assumption that the provisions of current law are fully
implemented. This result amounts to 17.5 percent of the estimated total
incurred expenditures for the following year.
Assumptions that are somewhat more pessimistic (and that therefore
test the adequacy of the assets to accommodate projection errors)
produce a surplus of $61,183 million by the end of December 2026 under
current law, which amounts to 7.9 percent of the estimated total
incurred expenditures for the following year. Under fairly optimistic
assumptions, the monthly actuarial rates would result in a surplus of
$170,663 million by the end of December 2026, or 27.7 percent of the
estimated total incurred expenditures for the following year.
The sensitivity analysis indicates that, in a typical year, the
premium and general revenue financing established for 2026, together
with existing Part B account assets, would be adequate to cover
estimated Part B costs for 2026 under current law, should actual costs
prove to be somewhat greater than expected.
5. Premium Rates and Deductible
As determined in accordance with section 1839 of the Act, the
following are the 2026 Part B monthly premium rates to be paid by (or
on behalf of) beneficiaries with full Part B coverage who file either
individual tax returns (and are single individuals, heads of
households, qualifying widows or widowers with dependent children, or
married individuals filing separately who lived apart from their
spouses for the entire taxable year) or joint tax returns.

[[Page 52069]]

The Part B annual deductible for 2026 is $283.00 for all
beneficiaries.

Table 2--Projection Factors \1\
[12-Month Periods Ending December 31 of 2023-2026 (in percent)]
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Physician Durable Physician- Other Home Other
Calendar year fee medical Practitioner administered practitioner Outpatient health Hospital institutional Managed
schedule equipment Lab \2\ drugs services \3\ hospital agency lab \4\ services \5\ care
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Aged:
2023.................................................... 4.0 9.4 4.5 24.2 20.6 8.5 0.8 -5.3 7.1 8.3
2024.................................................... 4.2 11.7 9.5 28.9 -3.4 9.6 2.3 3.2 6.9 3.2
2025.................................................... 3.2 15.8 3.4 20.5 8.6 10.0 3.6 3.9 6.2 4.4
2026.................................................... 5.0 6.1 4.9 -29.7 7.3 8.9 6.0 2.5 5.5 8.7
Disabled:

[[Page 52070]]

2023.................................................... 2.6 13.5 -1.6 27.9 15.3 5.4 2.6 -9.7 7.6 8.5
2024.................................................... 4.0 6.6 7.7 40.4 -2.5 8.1 3.2 1.8 10.0 3.1
2025.................................................... 8.8 8.5 8.0 33.8 12.1 14.3 5.6 12.1 16.5 5.4
2026.................................................... 7.2 8.5 7.0 -26.2 9.6 11.7 9.2 4.7 8.2 8.1
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ All values for services other than managed care are per fee-for-service enrollee. Managed care values are per managed care enrollee.
\2\ Includes services paid under the lab fee schedule furnished in the physician's office or an independent lab.
\3\ Includes ambulatory surgical center facility costs, ambulance services, parenteral and enteral drug costs, supplies, etc.
\4\ Includes services paid under the lab fee schedule furnished in the outpatient department of a hospital.
\5\ Includes services furnished in dialysis facilities, rural health clinics, federally qualified health centers, rehabilitation and psychiatric hospitals, etc.

Table 3--Derivation of Monthly Actuarial Rate for Enrollees Age 65 and Over for Financing Periods Ending
December 31, 2023, Through December 31, 2026
----------------------------------------------------------------------------------------------------------------
CY 2023 CY 2024 CY 2025 CY 2026
----------------------------------------------------------------------------------------------------------------
Covered services (at level recognized):
Physician fee schedule...................... $66.05 $65.95 $66.95 68.74
Durable medical equipment................... 6.79 7.28 8.29 8.61
Practitioner lab \1\........................ 4.56 4.79 4.88 5.00
Physician-administered drugs................ 22.40 27.67 32.82 23.14
Other practitioner services \2\............. 11.21 10.38 11.10 11.65
Outpatient hospital......................... 54.36 57.13 61.85 65.92
Home health agency.......................... 7.13 6.99 7.12 7.39
Hospital lab \3\............................ 1.97 1.95 2.00 2.00
Other institutional services \4\............ 17.05 17.47 18.25 18.84
Managed care................................ 180.48 193.35 204.63 226.44
---------------------------------------------------------------
Total services.......................... 372.01 392.97 417.89 437.73
----------------------------------------------------------------------------------------------------------------
Cost sharing:
Deductible.................................. -8.65 -9.19 -9.85 -10.83
Coinsurance................................. -25.15 -26.31 -28.42 -26.49
Sequestration of benefits....................... -6.76 -7.15 -7.59 -8.01
---------------------------------------------------------------
Total benefits.............................. 331.45 350.32 372.03 392.42
Administrative expenses......................... 5.61 5.78 5.64 5.79
---------------------------------------------------------------
Incurred expenditures........................... 337.05 356.10 377.67 398.21
Value of interest............................... -3.02 -2.68 -2.50 -3.24
Contingency margin for projection error and to -10.34 -10.03 -7.07 10.44
amortize the surplus or deficit................
---------------------------------------------------------------
Monthly actuarial rate...................... 323.70 343.40 368.10 405.40
----------------------------------------------------------------------------------------------------------------
\1\ Includes services paid under the lab fee schedule furnished in the physician's office or an independent lab.
\2\ Includes ambulatory surgical center facility costs, ambulance services, parenteral and enteral drug costs,
supplies, etc.
\3\ Includes services paid under the lab fee schedule furnished in the outpatient department of a hospital.
\4\ Includes services furnished in dialysis facilities, rural health clinics, federally qualified health
centers, rehabilitation, and psychiatric hospitals, etc.

Table 4--Derivation of Monthly Actuarial Rate for Disabled Enrollees for Financing Periods Ending December 31,
2023, Through December 31, 2026
----------------------------------------------------------------------------------------------------------------
CY 2023 CY 2024 CY 2025 CY 2026
----------------------------------------------------------------------------------------------------------------
Covered services (at level recognized):
Physician fee schedule...................... $52.44 $50.41 $51.07 $49.01
Durable medical equipment................... 10.27 10.18 10.29 9.96
Practitioner lab \1\........................ 4.37 4.34 4.35 4.19
Physician-administered drugs................ 19.53 25.61 31.92 21.03
Other practitioner services \2\............. 11.38 10.48 11.00 10.83
Outpatient hospital......................... 50.62 50.83 54.19 54.12
Home health agency.......................... 5.37 5.16 5.08 4.96
Hospital lab \3\............................ 1.99 1.89 1.98 1.86
Other institutional services \4\............ 35.15 34.69 37.64 36.94
Managed care................................ 252.50 277.92 309.72 351.48
---------------------------------------------------------------
Total services.......................... 443.62 471.50 517.24 544.38
----------------------------------------------------------------------------------------------------------------
Cost sharing:
Deductible.................................. -8.13 -8.64 -9.26 -10.17

[[Page 52071]]

Coinsurance................................. -26.10 -25.54 -26.96 -22.00
Sequestration of benefits....................... -8.18 -8.74 -9.62 -10.24
---------------------------------------------------------------
Total benefits.......................... 401.21 428.58 471.41 501.96
Administrative expenses......................... 6.27 6.61 10.45 11.53
---------------------------------------------------------------
Incurred expenditures........................... 407.48 435.19 481.86 513.50
Value of interest............................... -3.26 -2.61 -2.80 -4.31
Contingency margin for projection error and to -46.32 -5.37 8.74 39.41
amortize the surplus or deficit................
---------------------------------------------------------------
Monthly actuarial rate...................... 357.90 427.20 487.80 548.60
----------------------------------------------------------------------------------------------------------------
\1\ Includes services paid under the lab fee schedule furnished in the physician's office or an independent lab.
\2\ Includes ambulatory surgical center facility costs, ambulance services, parenteral and enteral drug costs,
supplies, etc.
\3\ Includes services paid under the lab fee schedule furnished in the outpatient department of a hospital.
\4\ Includes services furnished in dialysis facilities, rural health clinics, federally qualified health
centers, rehabilitation, and psychiatric hospitals, etc.

Table 5--Actuarial Status of the Part B Account in the SMI Trust Fund Under Three Sets of Assumptions for
Financing Periods Through December 31, 2026
----------------------------------------------------------------------------------------------------------------
As of December 31, 2024 2025 2026
----------------------------------------------------------------------------------------------------------------
Actuarial status (in millions):
Assets...................................................... $151,664 $144,774 $165,865
Liabilities................................................. $39,862 $43,201 $44,869
-----------------------------------------------
Assets less liabilities..................................... $111,801 $101,574 $120,996
Ratio \1\................................................... 18.9% 15.9% 17.5%
Low-cost projection:
Actuarial status (in millions):
Assets...................................................... $151,664 $158,457 $212,961
Liabilities................................................. $39,862 $41,680 $42,298
-----------------------------------------------
Assets less liabilities..................................... $111,801 $116,776 $170,663
Ratio \1\................................................... 19.4% 19.5% 27.7%
High-cost projection:
Actuarial status (in millions):
Assets...................................................... $151,664 $131,149 $108,659
Liabilities................................................. $39,862 $44,715 $47,476
-----------------------------------------------
Assets less liabilities..................................... $111,801 $86,434 $61,183
Ratio \1\................................................... 18.4% 12.7% 7.9%
----------------------------------------------------------------------------------------------------------------
\1\ Ratio of assets less liabilities at the end of the year to the total incurred expenditures during the
following year, expressed as a percent.

III. Collection of Information Requirements

This document does not impose information collection requirements--
that is, reporting, recordkeeping, or third-party disclosure
requirements. Consequently, there is no need for review by the Office
of Management and Budget under the authority of the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501 et seq.).

IV. Regulatory Impact Analysis

A. Statement of Need

This notice announces the monthly actuarial rates and premium
rates, as required by section 1839(a) of the Act, and the annual
deductible, as required by section 1833(b) of the Act, for
beneficiaries enrolled in Part B of the Medicare Supplementary Medical
Insurance (SMI) program beginning January 1, 2026. It also responds to
section 1839(a)(1) of the Act, which requires the Secretary to provide
for publication of these amounts in the Federal Register during the
September that precedes the start of each calendar year. As section
1839 prescribes a detailed methodology for calculating these amounts,
we do not have the discretion to adopt an alternative approach on these
issues.

B. Overall Impact

We have examined the impacts of this notice as required by
Executive Order 12866, ``Regulatory Planning and Review''; Executive
Order 13132, ``Federalism``; Executive Order 13563, ``Improving
Regulation and Regulatory Review''; Executive Order 14192, ``Unleashing
Prosperity Through Deregulation''; the Regulatory Flexibility Act (RFA)
(Pub. L. 96-354); section 1102(b) of the Social Security Act; section
202 of the Unfunded Mandates Reform Act of 1995 (Pub. L. 104-4); and
the Congressional Review Act (5 U.S.C. 804(2)).
Executive Orders 12866 and 13563 direct agencies to assess all
costs and benefits of available regulatory alternatives and, if
regulation is necessary, to select those regulatory approaches that
maximize net benefits (including potential economic, environmental,
public health and safety, and other advantages; distributive impacts.).
Section 3(f) of Executive Order 12866 defines a ``significant
regulatory action'' as any regulatory

[[Page 52072]]

action that is likely to result in a rule that may: (1) have an annual
effect on the economy of $100 million or more or adversely affect in a
material way the economy, a sector of the economy, productivity,
competition, jobs, the environment, public health or safety, or State,
local, or tribal governments or communities; (2) create a serious
inconsistency or otherwise interfere with an action taken or planned by
another agency; (3) materially alter the budgetary impact of
entitlements, grants, user fees, or loan programs or the rights and
obligations of recipients thereof; or (4) raise novel legal or policy
issues arising out of legal mandates, or the President's priorities.
A regulatory impact analysis (RIA) must be prepared for a
regulatory action that is significant under section 3(f)(1) of E.O.
12866.
The 2026 standard Part B premium of $202.90 is $17.90 higher than
the 2025 premium of $185.00. We estimate that the total premium
increase, for the approximately 65 million Part B enrollees in 2026,
will be $14.0 billion. Based on our estimates, OIRA has determined this
notice is significant under section 3(f)(1). Accordingly, we have
prepared a Regulatory Impact Analysis that to the best of our ability
presents the costs and benefits of the rulemaking. Therefore, OMB has
reviewed these proposed regulations. Pursuant to Subtitle E of the
Small Business Regulatory Enforcement Fairness Act of 1996 (also known
as the Congressional Review Act), OIRA has also determined that this
notice is a ``major rule'' as defined in 5 U.S.C. 804(2). For the
reasons given in section V. of this notice, however, we find for good
cause that notice and public procedure are impracticable, unnecessary,
and contrary to the public interest and have determined that this
policy will take effect on January 1, 2026, pursuant to 5 U.S.C.
808(2).

C. Detailed Economic Analysis

As discussed earlier, this notice announces that the monthly
actuarial rates applicable for 2026 are $405.40 for enrollees age 65
and over and $548.60 for disabled enrollees under age 65. It also
announces the 2026 monthly Part B premium rates to be paid by (or on
behalf of) beneficiaries with full Part B coverage who file either
individual tax returns (and are single individuals, heads of
households, qualifying widows or widowers with dependent children, or
married individuals filing separately who lived apart from their
spouses for the entire taxable year) or joint tax returns.

Full Part B Coverage
------------------------------------------------------------------------
Beneficiaries who are married
and lived with their spouses at
any time during the year, but Income-related Total monthly
who file separate tax returns monthly adjustment premium amount
from their spouses, with amount
modified adjusted gross income:
------------------------------------------------------------------------
Less than or equal to $109,000.. $0.00 $202.90
Greater than $109,000 and less 446.30 649.20
than $500,000..................
Greater than or equal to 487.00 689.90
$500,000.......................
------------------------------------------------------------------------

[[Page 52073]]

Part B Immunosuppressive Drug Coverage Only
------------------------------------------------------------------------
Beneficiaries who are married
and lived with their spouses at
any time during the year, but Income-related Total monthly
who file separate tax returns monthly adjustment premium amount
from their spouses, with amount
modified adjusted gross income:
------------------------------------------------------------------------
Less than or equal to $109,000.. $0.00 $121.60
Greater than $109,000 and less 445.90 567.50
than $500,000..................
Greater than or equal to 486.50 608.10
$500,000.......................
------------------------------------------------------------------------

D. Accounting Statement and Table

As required by OMB Circular A-4 (available at https://www.whitehouse.gov/omb/information-resources/guidance/circulars/), in
Table 6 we have prepared an accounting statement.

Table 6--Accounting Statement: The Estimated Aggregate Part B Premium
Increase for All Enrollees for 2026
------------------------------------------------------------------------
Category
------------------------------------------------------------------------
Annualized Monetized Transfers......... $14.0 billion.
From Whom to Whom?..................... Beneficiaries to Federal
Government.
------------------------------------------------------------------------

E. Regulatory Flexibility Act (RFA)

The RFA requires agencies to analyze options for regulatory relief
of small businesses, if a rule or other regulatory document has a
significant impact on a substantial number of small entities. For
purposes of the RFA, small entities include small businesses, nonprofit
organizations, and small governmental jurisdictions. Individuals and
States are not included in the definition of a small entity. This
notice announces the monthly actuarial rates for aged (age 65 and over)
and disabled (under age 65) beneficiaries enrolled in Part B of the
Medicare SMI program beginning January 1, 2026. Also, this notice
announces the monthly premium for aged and disabled beneficiaries as
well as the income-related monthly adjustment amounts to be paid by
beneficiaries with modified adjusted gross income above certain
threshold amounts. As a result, we are not preparing an analysis for
the RFA because the Secretary has determined that this notice will not
have a significant economic impact on a substantial number of small
entities.
In addition, section 1102(b) of the Act requires us to prepare a
regulatory impact analysis if a rule or other regulatory document may
have a significant impact on the operations of a substantial number of
small rural hospitals. This analysis must conform to the provisions of
section 604 of the RFA. For purposes of section 1102(b) of the Act, we
define a small rural hospital as a hospital that is located outside of
a Metropolitan Statistical Area and has fewer than 100 beds. As we
discussed previously, we are not preparing an analysis for section
1102(b) of the Act because the Secretary has determined that this
notice will not have a significant effect on a substantial number of
small rural hospitals.
Section 202 of the Unfunded Mandates Reform Act of 1995 (UMRA) also
requires that agencies assess anticipated costs and benefits before
issuing any rule whose mandates require spending in any 1 year of $100
million in 1995 dollars, updated annually for inflation. In 2025, that
threshold is approximately $187 million. Part B enrollees who are also
enrolled in Medicaid have their monthly Part B premiums paid by
Medicaid. The cost to each State Medicaid program from the 2026 premium
increase is estimated to be more than the threshold. This notice does
not impose mandates that will have a consequential effect of the
threshold amount or more on State, local, or tribal governments or on
the private sector.
Executive Order 13132 establishes certain requirements that an
agency must meet when it publishes a proposed rule or other regulatory
document (and subsequent final rule or other regulatory document) that
imposes substantial direct compliance costs on State and local
governments, preempts State law, or otherwise has Federalism
implications. We have determined that this notice does not
significantly affect the rights, roles, and responsibilities of States.
Accordingly, the requirements of Executive Order 13132 do not apply to
this notice.

V. Waiver of Proposed Rulemaking

We ordinarily publish a notice of proposed rulemaking in the
Federal Register and invite public comment prior to a rule taking
effect in accordance with section 1871 of the Act. Section 1871(a)(2)
of the Act provides that no rule, requirement, or other statement of
policy (other than a national coverage determination) that establishes
or changes a substantive legal standard governing the scope of
benefits, the payment for services, or the eligibility of individuals,
entities, or organizations to furnish or receive services or benefits
under Medicare shall take effect unless it is promulgated through
notice and comment rulemaking. Unless there is a statutory exception,
section 1871(b)(1) of the Act generally requires the Secretary of the
Department of Health and Human Services (the Secretary) to provide for
notice of a proposed rule in the Federal Register and provide a period
of not less than 60 days for public comment before establishing or
changing a substantive legal standard regarding the matters enumerated
by the statute. Section 1871(b)(2)(C) of the Act provides exceptions
from the notice and 60-day comment period, under the good cause
standard set forth in 5 U.S.C. 553(b)(B). Section 553(b)(B) expressly
authorizes an agency to dispense with notice and comment rulemaking for
good cause if the agency makes a finding that notice and comment
procedures are impracticable, unnecessary, or contrary to the public
interest.
The annual updated amounts for the Part B monthly actuarial rates
for aged

[[Page 52074]]

and disabled beneficiaries, the Part B premium, and the Part B
deductible set forth in this notice do not establish or change a
substantive legal standard regarding the matters enumerated by the
statute or constitute a substantive rule that would be subject to the
notice requirements in section 1871(b) of the Act. However, to the
extent that an opportunity for public notice and comment could be
construed as required for this notice, we find good cause to waive this
requirement.
Section 1839 of the Act requires the Secretary to determine the
monthly actuarial rates for aged and disabled beneficiaries, as well as
the monthly Part B premium (including the income-related monthly
adjustment amounts to be paid by beneficiaries with modified adjusted
gross income above certain threshold amounts), for each calendar year
in accordance with the statutory formulae, in September preceding the
year to which they will apply. Further, the statute requires that the
agency promulgate the Part B premium amount, in September preceding the
year to which it will apply, and include a public statement setting
forth the actuarial assumptions and bases employed by the Secretary in
arriving at the amount of an adequate actuarial rate for enrollees age
65 and older. We include the Part B annual deductible, which is
established in accordance with a specific formula described in section
1833(b) of the Act, because the determination of the amount is directly
linked to the rate of increase in actuarial rate under section
1839(a)(1) of the Act. We have calculated the monthly actuarial rates
for aged and disabled beneficiaries, the Part B deductible, and the
monthly Part B premium as directed by the statute; since the statute
establishes both when the monthly actuarial rates for aged and disabled
beneficiaries and the monthly Part B premium must be published and what
information must be factored into those amounts by the Secretary, we do
not have any discretion in that regard. We find notice and comment
procedures to be unnecessary for this notice, and we find good cause to
waive such procedures under section 553(b)(B) and section 1871(b)(2)(C)
of the Act, if such procedures may be construed to be required at all.
Through this notice, we are simply notifying the public of the updates
to the monthly actuarial rates for aged and disabled beneficiaries and
the Part B deductible, as well as the monthly Part B premium amounts
and the income-related monthly adjustment amounts to be paid by certain
beneficiaries, in accordance with the statute, for CY 2026.
Dr. Mehmet Oz, Administrator of the Centers for Medicare & Medicaid
Services, approved this document.

Robert F. Kennedy, Jr.,
Secretary, Department of Health and Human Services.
[FR Doc. 2025-20251 Filed 11-14-25; 4:45 pm]
BILLING CODE 4120-01-P