Suze Orman’s Medicare Warning Is Hitting Retirees’ Social Security Checks

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Quick Read

• Suze Orman warned retirees about Medicare premiums.

• Retirees in 2026 are already coping with high costs of insurance coverage.

• Almost a third of the average COLA was taken up by rising Medicare costs.

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Millions of older Americans rely on Social Security benefits to help them fund their retirement. Unfortunately, many seniors who are 65 and over and who are collecting retirement benefits faced a big hit this year.

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It’s a hit that finance guru Suze Orman warned about in December of 2025. Her warning has now become reality, and it’s a big financial problem for retirees who count on Social Security benefits to cover their costs in their later years.

Suze Orman warned retirees about this Medicare issue

Orman’s warning to retirees had to do with Medicare premiums. Specifically, as she explained on the Suze Orman blog, many Social Security retirees who are 65 or older are enrolled in Medicare coverage, and they pay premiums for their Medicare out of their Social Security checks. The problem is that the costs of Medicare premiums rose dramatically this year. Specifically:

• Part B premiums increased to $202.90 in 2026, which is a 9.7% increase from the $185 that premiums cost in 2025.

Orman specifically warned Social Security retirees about this because the big increase in Medicare insurance costs in 2026 would mean that the Cost of Living Adjustment (COLA) applied to seniors’ retirement checks this year would be substantially reduced by the added premiums they now have to pay.

Retirees got a 2.8% COLA in 2026, with the 2.8% increase to their benefits aimed at helping them cope with inflation. But, since Medicare premiums increased by 9.7%, a good portion of the COLA will be diverted to paying for the extra Medicare premiums before retirees even get their deposits.  In fact, for the average retiree, close to a third of the additional money coming from the COLA will go to added Medicare costs.

Even pre-retirees need to be worried about this issue

It’s clear that Orman’s warning about Medicare is already coming true. Costs are up this year, and seniors are paying the price in 2026. And, it’s not just current retirees who are affected either.

Unfortunately, as the finance expert points out, even if you haven’t enrolled in Medicare yet, chances are good that you will someday. And, since premium costs are likely to keep rising dramatically, you need to be ready for how expensive this insurance coverage will eventually be. “Even if you have yet to enroll in Medicare, I need you to listen up. Part B is a significant expense you need to work into your financial planning for retirement,” Orman said.

Her warning was based on hard numbers, so it’s especially important for workers to listen to her advice. Specifically, the monthly cost of Part B premiums is up around 53% over the past decade, according to Orman’s blog. And there is every reason to assume costs will continue rising– which means premiums could top $300 per person by 2036.

This should be a major cause for concern for future retirees, especially as seniors this year are already struggling to cope with the extra medical insurance costs that have taken away much of their COLA. Both current and future retirees may want to consider working with a financial advisor to develop a comprehensive plan for their care expenses so insurance premiums don’t prevent them from having the secure retirement they deserve.

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