Medicare Cost Calculator

Most people pay $0 for Part A, and Part B is $202.90/month (standard premium). Part D averages about $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 tier.

IRMAA (Income-Related Monthly Adjustment Amount) is a surcharge added to Part B and Part D premiums for higher-income beneficiaries. It is based on your MAGI from 2 years ago (2026 premiums use 2024 income). IRMAA kicks in starting at $109,001 for singles and $218,001 for married filing jointly. The highest tier (single $500K+, joint $750K+) 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 more than 40 quarters (10 years). With 30-39 quarters, you pay $311/month. Fewer than 30 quarters: $565/month. However, Part A still has a $1,736 deductible per benefit period, plus daily copays 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 coverage.

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

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

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

Your Initial Enrollment Period lasts 7 months: it begins 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 (January 1-March 31, with coverage starting July 1) or during a Special Enrollment Period if you have a qualifying event.