If you are approaching 65 or already enrolled in Medicare, understanding Medicare Part B premiums in Fort Collins, CO is essential for building a realistic retirement budget. Part B covers the doctor visits, outpatient procedures, preventive screenings, and durable medical equipment you rely on every month, and nearly every Medicare beneficiary pays a premium for this coverage. For 2026, the Centers for Medicare and Medicaid Services (CMS) set the standard Part B premium at $202.90 per month, with higher-income enrollees paying more through an income-related adjustment known as IRMAA. This guide walks Fort Collins residents through what Part B covers, how your premium is calculated, 2026 amounts, payment options, and how to appeal an IRMAA determination when your situation changes.
What Part B Covers
Medicare Part B, also called Medical Insurance, pays a share of the outpatient care you receive from physicians, clinics, and other providers. That includes routine office visits, specialist consults, lab tests, x-rays, most preventive screenings, mental health services, outpatient surgeries, and durable medical equipment such as walkers, CPAP machines, or diabetic supplies. It also covers many ambulance trips, limited outpatient prescription drugs administered in a clinic, and a growing list of preventive services at no cost-sharing.
Part B pays 80 percent of the Medicare-approved amount for most services after you meet the annual deductible. You are responsible for the remaining 20 percent coinsurance, which has no annual out-of-pocket maximum under Original Medicare. That is a key reason many Fort Collins residents pair Part B with a Medicare Supplement plan or choose a Medicare Advantage plan that packages Part A, Part B, and additional benefits into a single policy with a capped out-of-pocket maximum.
- Doctor office visits, specialists, and telehealth
- Outpatient surgery and hospital observation services
- Preventive screenings, annual wellness visits, vaccines
- Durable medical equipment and home health services
- Outpatient mental health and substance use treatment
- Clinical lab tests and diagnostic imaging
Standard Premium vs IRMAA-Adjusted Premium
Most Medicare beneficiaries pay the standard Part B premium, which is set each fall by CMS and applied the following calendar year. A minority of higher-income enrollees pay a surcharge on top of the standard premium called the Income-Related Monthly Adjustment Amount, or IRMAA. According to the CMS 2026 fact sheet, about 8 percent of Part B enrollees owe IRMAA in any given year.
IRMAA is calculated using your modified adjusted gross income (MAGI) from the federal tax return filed two years earlier. For 2026 premiums, the Social Security Administration looks at your 2024 tax return. If your MAGI sits below the lowest income threshold, you pay only the standard premium. If you cross one of the tiered thresholds, you pay an extra amount that increases at each tier. Married couples filing jointly have separate, higher thresholds than single filers.
It is worth remembering that IRMAA is re-evaluated annually. A one-time bump in income from a home sale, retirement plan rollover, or large Roth conversion can push a Fort Collins retiree into an IRMAA tier for a single year and drop back out the next. That is part of why appealing an IRMAA determination (covered below) matters when your situation changes.
2026 Part B Premium and Deductible Amounts
For 2026, CMS set the Part B standard premium at $202.90 per month, a $17.90 increase from the 2025 standard of $185.00. The Part B annual deductible rose to $283, up from $257 in 2025. After you meet the deductible, Original Medicare typically pays 80 percent of the approved amount for covered services and you pay the 20 percent coinsurance. Published IRMAA amounts are included in the Social Security Administration’s Part B premium page.
The 2026 IRMAA tiers for beneficiaries filing individual tax returns start at MAGI above $109,000, and for joint filers at MAGI above $218,000. The total Part B monthly premium, once IRMAA is added, ranges from $284.10 at the first surcharge tier up to $689.90 at the highest tier for individual filers with MAGI of $500,000 or more (or joint filers with MAGI of $750,000 or more).
- Standard premium: $202.90 per month
- Annual deductible: $283
- Coinsurance after deductible: 20 percent of Medicare-approved amount
- IRMAA total premium range: $284.10 to $689.90 per month
- Immunosuppressive-drug-only Part B premium: $121.60 per month
How Income Affects Your Premium
Because IRMAA is triggered by your MAGI two years ago, decisions you make today about retirement account withdrawals, Roth conversions, or selling appreciated assets can influence what you pay for Part B two years from now. Many Fort Collins retirees are surprised the first year after they sell a second home, exercise stock options, or take a large required minimum distribution and end up in an unexpected IRMAA tier.
If you are still working past 65 and your employer coverage is creditable, delaying Part B enrollment until retirement through a Special Enrollment Period can help you align your IRMAA obligation with your actual retirement income. On the other hand, if you are already retired and living primarily on Social Security and modest investment income, you will usually stay well below the IRMAA thresholds and pay the standard premium. Thoughtful coordination with a tax professional can help smooth income in the years before Medicare begins so you avoid paying unnecessary surcharges.
Choices about coverage after Part B also matter. Some Fort Collins residents prefer pairing Part B with a Medigap policy for predictable out-of-pocket costs. Others prefer a Medicare Advantage plan that packages additional benefits. We walk through those trade-offs on our Medicare Supplement page and our Medicare Advantage overview, so you can see how Part B fits into a complete plan.
How and When to Pay Your Part B Premium
If you already collect Social Security, Railroad Retirement Board benefits, or federal civil service retirement, your Part B premium is automatically deducted from your monthly benefit check. You do not have to write a check or set up a separate payment. If you are not yet drawing those benefits, Medicare bills you directly using form CMS-500 every three months.
Medicare offers several ways to pay if you are billed directly. You can mail a check or money order, pay online through your secure Medicare.gov account, set up recurring payments through Medicare Easy Pay (which drafts from your checking or savings account), or use your bank’s online bill pay. Paying on time matters: Medicare can terminate your Part B coverage for nonpayment, which can trigger a late-enrollment penalty and a gap in coverage.
For retirees with a Part D drug plan, your Part D premium is usually billed separately by your plan. Some choose to have Part D premiums deducted from Social Security as well, which keeps things simple. If you are considering Part D, our Prescription Drug Plans page explains how premiums, formularies, and pharmacy networks factor into the decision.
Appealing an IRMAA Decision
IRMAA determinations are not permanent. If you experience a qualifying life-changing event that reduces your income, you can ask Social Security to use more recent tax data (or estimated current-year income) instead of the two-year-old return. Qualifying events include marriage, divorce or annulment, death of a spouse, work stoppage, work reduction, loss of income-producing property, loss of pension income, or receipt of settlement payments from a former employer.
To appeal, complete Form SSA-44 (“Medicare Income-Related Monthly Adjustment Amount – Life-Changing Event”) and submit it to your local Social Security office with supporting documentation, such as a letter from your former employer confirming retirement, a death certificate, or a divorce decree. You can also appeal based on a provable tax return error by providing the amended return or IRS correspondence.
Decisions are typically issued within 30 to 60 days. If Social Security denies your request, you have further appeal rights through reconsideration and, if needed, an administrative law judge hearing. For Fort Collins residents, the local Social Security office in Greeley handles most SSA-44 filings, though you can also file online or by mail.
Frequently Asked Questions
Q: What is the standard Medicare Part B premium for 2026 in Fort Collins, CO?
The standard Part B monthly premium for 2026 is $202.90, the same amount nationwide as set by CMS. Most Fort Collins residents with MAGI below $109,000 (single) or $218,000 (joint) pay this standard rate. The Part B annual deductible for 2026 is $283, after which Original Medicare typically pays 80 percent of the approved amount.
Q: How do I know if I will owe IRMAA?
IRMAA is based on your modified adjusted gross income from the federal tax return filed two years earlier. For 2026 premiums, the Social Security Administration reviews your 2024 return. Single filers with MAGI above $109,000 and joint filers with MAGI above $218,000 typically owe an income-related surcharge. If you owe IRMAA, Social Security mails you a predetermination letter before the new year.
Q: Can my Part B premium be deducted from Social Security?
Yes. If you are already receiving Social Security, Railroad Retirement, or federal civil service retirement benefits, Medicare automatically deducts your Part B premium from each monthly benefit check. If you have not yet filed for Social Security, Medicare will bill you directly every three months using form CMS-500, or you can set up recurring electronic payments through Medicare Easy Pay.
Q: What happens if I do not pay my Part B premium?
If you miss payments, Medicare mails delinquency notices and eventually terminates your Part B coverage. Losing Part B can create a gap in your outpatient coverage and may trigger a Part B late-enrollment penalty when you try to re-enroll, which is added to your monthly premium for as long as you have Part B. If you have financial hardship, contact Medicare or Social Security right away to discuss options.
Q: Can I appeal if a life change reduces my income?
Yes. Qualifying life-changing events include retirement, reduced work hours, marriage, divorce, death of a spouse, loss of pension income, and loss of income-producing property. File Form SSA-44 with your local Social Security office and include supporting documents such as a retirement letter, divorce decree, or death certificate. A successful appeal updates your premium based on recent or projected income.
Ready to see how your Part B premium, deductible, and supplemental coverage fit together? Call Aspen Financial at (970) 800-3616 to schedule a free, no-obligation consultation with our licensed advisors. Visit our contact page to book a time that works for you. We help Fort Collins residents understand 2026 premiums, review IRMAA exposure, compare Medicare Advantage and Medigap options, and build a coverage plan that matches your income and care needs.