Medicare is not free, and the bill is more than one premium. This calculator estimates your total annual Medicare cost — Part A and B premiums, the income-based IRMAA surcharge, Part D drug coverage, and optional Medigap — and compares Original Medicare, Medicare Advantage, and a Medigap-supplemented plan so you can see which path fits your budget and health needs.

How the Medicare Cost Calculator works

The calculator sums every monthly premium for your selected coverage path, multiplies by twelve, and adds an estimated annual out-of-pocket figure scaled to your healthcare usage. Part A is $0 for most beneficiaries (or $311–$565/month if you have fewer than 40 quarters of Medicare-taxed work). The 2026 standard Part B premium is $202.90/month and the average Part D premium is about $34.50/month. For high earners, an IRMAA surcharge raises both Part B and Part D based on your MAGI from two years ago. Medigap premiums apply only when you pair a supplement with Original Medicare.

Inputs and what they mean

The single input that moves the result most is income: crossing an IRMAA threshold can add over $2,000/year. Enter your MAGI from two tax years ago, not your current income. Filing status matters because married-filing-jointly thresholds are double the single thresholds, and married-filing-separately uses its own steep three-tier schedule. Plan type decides which premiums apply — Medicare Advantage bundles drug coverage and cannot be combined with Medigap. Work history sets the Part A premium, and healthcare usage scales the out-of-pocket estimate, where Original Medicare without a supplement carries the most risk.

Limits and edge cases

All figures use the published 2026 Medicare rate schedule; premiums, IRMAA brackets, and Medigap pricing change every year, so verify current numbers at Medicare.gov before enrolling. Medigap premiums vary widely by state, age-rating method, and insurer — the ranges here are typical, not quotes. The out-of-pocket figure is a planning estimate, not a prediction of your actual claims. The IRMAA Brackets tab shows the full 2026 schedule with your tier highlighted, and the Cost Over Time tab can apply premium inflation. This is an estimate, not advice — confirm your situation with a licensed broker or SHIP counselor.