Medicare Cost Calculator
Estimate your total Medicare costs including premiums, IRMAA surcharges, and out-of-pocket expenses.
Your Profile
Healthcare Usage
Estimated Total Annual Medicare Cost
$5,417
$405/mo premiums + $557 est. out-of-pocket
Premium Breakdown
Deductibles
Medicare costs are estimated based on 2026 projections. Actual costs depend on your specific plan, region, and healthcare usage. Contact Medicare at 1-800-MEDICARE for official information.
Medicare Costs at a Glance (2026)
Medicare isn't free — even with Part A premium-free for most people, the combination of Part B premiums, Part D drug coverage, and supplemental insurance (Medigap or Medicare Advantage) adds up to $3,000-$8,000+ per year for most retirees. High-income earners face IRMAA surcharges that can double or triple Part B premiums. Understanding your total Medicare cost is essential for retirement budgeting.
2026 Medicare Premiums and Deductibles
| Component | 2026 Amount | Notes |
|---|---|---|
| Part A Premium | $0 (most people) | Free with 40+ quarters of work history |
| Part A Deductible | $1,676 | Per benefit period (hospital stay) |
| Part B Premium | $185.00/mo | Standard; higher with IRMAA |
| Part B Deductible | $257/yr | Annual deductible, then 20% coinsurance |
| Part D Premium | $35 avg/mo | Varies by plan |
| Part D Out-of-Pocket Cap | $2,000 | New cap starting 2025 (previously no cap) |
IRMAA Surcharges by Income (2026)
If your modified adjusted gross income (MAGI) from 2 years ago exceeds certain thresholds, you pay higher Part B and Part D premiums. This is called IRMAA — Income-Related Monthly Adjustment Amount.
| Single Income | Married Income | Part B Total | Part D Surcharge |
|---|---|---|---|
| Under $106,000 | Under $212,000 | $185.00 | $0 |
| $106,000-$133,000 | $212,000-$266,000 | $259.00 | $13.70 |
| $133,000-$167,000 | $266,000-$334,000 | $370.00 | $35.30 |
| $167,000-$200,000 | $334,000-$400,000 | $480.90 | $57.00 |
| $200,000-$500,000 | $400,000-$750,000 | $591.90 | $78.60 |
| Over $500,000 | Over $750,000 | $628.90 | $85.80 |
Original Medicare + Medigap vs Medicare Advantage
| Feature | Original + Medigap | Medicare Advantage |
|---|---|---|
| Monthly cost | Higher ($185 + Medigap + Part D) | Lower (many $0 plans) |
| Out-of-pocket costs | Very low (Medigap covers most) | Copays/coinsurance (OOP max ~$8,300) |
| Doctor choice | Any doctor accepting Medicare | Network-restricted (HMO/PPO) |
| Referrals needed | No | Often yes (HMO) |
| Extra benefits | None | Often includes dental, vision, hearing |
| Best for | Frequent travelers, chronic conditions | Healthy, budget-conscious, local care |
Frequently Asked Questions
What is IRMAA and can I avoid it?
IRMAA (Income-Related Monthly Adjustment Amount) is a surcharge on Medicare Part B and Part D premiums for higher-income beneficiaries. It's based on your MAGI from 2 years prior. You can reduce future IRMAA by managing retirement income — Roth conversions before 65, timing capital gains, and managing required minimum distributions. If your income dropped due to a life-changing event (retirement, divorce, death of spouse), you can appeal using Form SSA-44.
When should I enroll in Medicare?
Your Initial Enrollment Period (IEP) is 7 months centered on your 65th birthday month (3 months before, the month of, and 3 months after). If you miss it and don't have creditable employer coverage, you face permanent late enrollment penalties: 10% higher Part B premiums for each 12-month period you delayed, and 1% per month for Part D. These penalties never go away.
Is Medicare Advantage really free?
Many Medicare Advantage plans have $0 premiums (beyond the Part B premium you still pay). But "free" doesn't mean no cost — you pay copays and coinsurance when you use services, typically up to an out-of-pocket maximum of $5,000-$8,300. For healthy people who use few services, MA can be very affordable. For those with chronic conditions requiring many specialist visits, Original Medicare + Medigap often costs less overall despite higher premiums.
See also: Long-Term Care Calculator and Social Security Break-Even Calculator.