Medicare Cost Calculator

Most people pay $0 for Part A and $202.90/month for Part B (standard premium). Part D averages ~$39/month. Total baseline: about $242/month. Higher earners pay more due to IRMAA surcharges — up to $689.90/month for Part B alone at the highest income level.

IRMAA (Income-Related Monthly Adjustment Amount) is a surcharge added to Part B and Part D premiums for higher-income beneficiaries. It's based on your MAGI from 2 years prior (2024 income for 2026 premiums). IRMAA kicks in at $109,001 for singles and $218,001 for married filing jointly. The highest bracket ($500K+ single, $750K+ joint) adds $487/month to Part B and $91/month to Part D.

Part A is premium-free if you (or your spouse) worked and paid Medicare taxes for 40+ quarters (10 years). If you have 30-39 quarters, you pay $311/month. Fewer than 30 quarters: $565/month. However, Part A still has a $1,736 deductible per hospital benefit period, plus daily coinsurance for stays beyond 60 days.

Part B covers doctor visits, outpatient care, preventive services, medical equipment, ambulance services, mental health, and some home health care. After the $283 annual deductible, you typically pay 20% coinsurance with no out-of-pocket maximum — which is why many people buy Medigap supplemental insurance.

Starting in 2025, the Inflation Reduction Act capped Part D out-of-pocket costs at $2,000/year ($2,100 in 2026). Once you hit this cap, you pay $0 for covered drugs the rest of the year. This was a major change — previously, there was no annual cap and costs could spiral.

Medigap (Medicare Supplement) plans are private insurance that covers gaps in Original Medicare — copayments, coinsurance, and deductibles. Plan G is the most popular, typically costing $100-$250/month depending on age, location, and insurer. Medigap only works with Original Medicare, not Medicare Advantage.

Part B: 10% premium surcharge for each full 12 months you were eligible but didn't enroll — permanent. Part D: 1% of the base premium ($0.39/month in 2026) per uncovered month — also permanent. These penalties add up fast: delaying Part B by 3 years means paying 30% more for life.

Your Initial Enrollment Period is 7 months: starts 3 months before your 65th birthday month, includes your birthday month, and ends 3 months after. You can also enroll during the General Enrollment Period (Jan 1 - Mar 31, coverage starts July 1) or Special Enrollment Periods if you have qualifying events.