Medicare Cost Calculator 2026
Your Information
Know What You’ll Pay Before You Enroll
Planning for Medicare shouldn’t feel like solving a complex puzzle. Our free Medicare Cost Calculator takes the guesswork out of estimating your healthcare expenses for 2026, giving you a clear picture of what you’ll actually pay each month and year.
What This Calculator Does
The Medicare Cost Calculator analyzes your personal information and coverage preferences to estimate your total Medicare costs, including:
Premium Calculations:
- Part A (Hospital Insurance) — Most Americans pay $0, but the calculator identifies if you’ll owe premiums based on your work history
- Part B (Medical Insurance) — Calculates your 2026 premium including any Income-Related Monthly Adjustment Amount (IRMAA) surcharges
- Part D (Prescription Drugs) — Estimates drug plan premiums based on your medication needs
- Medigap (Supplement Insurance) — Projects supplemental coverage costs if you choose Original Medicare
- Medicare Advantage (Part C) — Estimates premiums for private Medicare plans
Income-Based Adjustments:
Higher-income beneficiaries pay more for Medicare. Our calculator automatically applies 2026 IRMAA brackets to your Part B and Part D estimates, so you’ll see your true costs — not just the standard rates advertised elsewhere.
Who Should Use This Calculator
This tool is designed for:
- Adults approaching 65 who want to understand Medicare costs before enrolling
- Current Medicare beneficiaries comparing their options during Open Enrollment
- Caregivers and family members helping loved ones plan for healthcare expenses
- Financial advisors and insurance professionals assisting clients with retirement planning
- Anyone considering a switch between Original Medicare and Medicare Advantage
What Makes Our Calculator Different
Unlike basic Medicare calculators that only show standard premiums, our tool provides:
✅ Personalized IRMAA calculations based on your actual income
✅ Age-adjusted Medigap estimates that reflect how premiums increase as you get older
✅ Prescription drug cost modeling based on the number of medications you take
✅ Side-by-side comparison of Original Medicare vs. Medicare Advantage costs
✅ Annual AND monthly breakdowns so you can budget effectively
Important Disclaimer
This calculator provides estimates based on 2026 standard Medicare rates and average costs. Your actual expenses may vary depending on:
- Your geographic location (premiums vary by state and county)
- The specific plans available in your area
- Your individual health conditions and healthcare utilization
- Whether you qualify for Medicare Savings Programs or Extra Help
- Changes to Medicare rates that may occur before 2026
How to Use the Medicare Calculator: Step-by-Step Instructions
Getting Started
The Medicare Cost Calculator requires just a few pieces of information to generate your personalized cost estimate. Here’s how to use each feature:
Step 1: Enter Your Age
Field: Age input box
What to enter: Your current age, or the age you’ll be when you enroll in Medicare
Why it matters: Age affects several Medicare costs:
- Medigap premiums typically increase as you get older
- Some Medicare Advantage plans adjust costs by age
- If you’re under 65 with a qualifying disability, your costs may differ
Example: If you’re turning 65 in 2026, enter “65”
Step 2: Enter Your Annual Income
Field: Annual Income (Individual) input box
What to enter: Your Modified Adjusted Gross Income (MAGI) from two years ago
Why it matters: Medicare uses income from two years prior to determine IRMAA surcharges. If your income exceeds certain thresholds, you’ll pay higher premiums for Part B and Part D.
2026 IRMAA Income Brackets (Individual Filers):
| Annual Income | Part B Monthly Surcharge |
|---|---|
| $106,000 or less | $0 (standard premium) |
| $106,001 – $133,000 | +$70.00 |
| $133,001 – $167,000 | +$170.00 |
| $167,001 – $200,000 | +$270.00 |
| $200,001 – $500,000 | +$370.00 |
| Above $500,000 | +$420.00 |
Tip: Use your 2024 tax return (filed in 2025) to find your MAGI, as this is what Medicare will use for 2026 premiums.
Example: If your 2024 income was $85,000, enter “85000”
Step 3: Select Your Medicare Plan Type
Field: Medicare Plan Type dropdown
Options:
- Original Medicare (Parts A & B) — Traditional government-run Medicare
- Medicare Advantage (Part C) — Private insurance plans that replace Original Medicare
What to choose:
Choose Original Medicare if you:
- Want freedom to see any doctor who accepts Medicare
- Plan to purchase a Medigap supplement policy
- Need to buy a separate Part D drug plan
- Travel frequently or live in multiple states
Choose Medicare Advantage if you:
- Prefer an all-in-one plan with built-in drug coverage
- Want additional benefits like dental, vision, and hearing
- Are comfortable using a network of doctors and hospitals
- Want an annual out-of-pocket spending limit
Example: Select “Original Medicare (Parts A & B)” if you want traditional coverage with a Medigap supplement.
Step 4: Prescription Drug Coverage (Part D)
Field: Checkbox — “Need prescription drug coverage (Part D)”
When to check this box:
- You take prescription medications regularly
- You want protection against future drug costs
- You want to avoid the Part D late enrollment penalty
When to leave unchecked:
- You selected Medicare Advantage (most include drug coverage)
- You have creditable drug coverage through an employer or union
- You have VA or TRICARE coverage for prescriptions
Important: If you don’t enroll in Part D when first eligible and don’t have creditable coverage, you may face a permanent late enrollment penalty — 1% of the national base premium for every month you delayed.
Step 5: Number of Prescriptions
Field: Number of prescriptions per month input box
What to enter: The total number of different prescription medications you take monthly
Why it matters: More prescriptions generally mean higher out-of-pocket drug costs, which affects:
- Which Part D plan tier is most cost-effective for you
- Your estimated annual drug spending
- Whether you might benefit from a Medicare Advantage plan with integrated drug coverage
Counting tips:
- Count each unique medication (not refills)
- Include maintenance medications for chronic conditions
- Include as-needed medications you fill at least once per month
- Don’t count over-the-counter drugs
Example: If you take blood pressure medication, cholesterol medication, and a daily vitamin (prescription), enter “3”
Step 6: Medigap Coverage
Field: Checkbox — “Want Medigap (supplemental insurance)”
What is Medigap?
Medigap (Medicare Supplement Insurance) helps pay the out-of-pocket costs that Original Medicare doesn’t cover, including:
- Part A and Part B deductibles
- Part B 20% coinsurance
- Hospital coinsurance for extended stays
- Skilled nursing facility coinsurance
When to check this box:
- You selected Original Medicare as your plan type
- You want predictable healthcare costs with minimal surprise bills
- You’re concerned about the 20% coinsurance for expensive procedures
- You don’t want to worry about Original Medicare’s unlimited out-of-pocket exposure
When to leave unchecked:
- You selected Medicare Advantage (cannot have both)
- You’re comfortable paying Medicare’s deductibles and coinsurance yourself
- You qualify for Medicaid, which covers your cost-sharing
- Budget constraints make the additional premium unaffordable
Note: Medigap premiums vary significantly by:
- Your age at enrollment
- Your state of residence
- The plan letter you choose (A, B, C, D, F, G, K, L, M, N)
- Whether your state has guaranteed issue protections
Step 7: Calculate Your Costs
Button: “Calculate My Costs”
What happens when you click:
- The calculator processes all your inputs
- It applies 2026 Medicare rates and IRMAA brackets
- It generates a personalized cost breakdown
- Results appear below the button
Processing time: Results appear instantly — no page reload required.
Understanding Your Results
After clicking “Calculate My Costs,” you’ll see a detailed breakdown of your estimated Medicare expenses:
Part A Premium
What it shows: Your annual Part A (hospital insurance) premium
For most people: $0 — If you or your spouse paid Medicare taxes for 40+ quarters (10 years), Part A is premium-free.
If you see a cost: You may not have enough work credits. In 2026:
- 30-39 quarters of coverage: Approximately $278/month
- Less than 30 quarters: Approximately $505/month
Part B Premium
What it shows: Your annual Part B (medical insurance) premium, including any IRMAA surcharge
Standard 2026 premium: $185/month ($2,220/year)
If your amount is higher: Your income exceeds $106,000 (individual) or $212,000 (married filing jointly), triggering IRMAA surcharges.
Part D Premium (if applicable)
What it shows: Estimated annual cost for prescription drug coverage
What’s included:
- Base premium (approximately $50/month average)
- Additional cost estimate based on your prescription count
- IRMAA surcharge if applicable
Note: Actual Part D premiums vary significantly by plan. This estimate reflects average costs.
Medigap Premium (if applicable)
What it shows: Estimated annual cost for supplemental insurance
How it’s calculated:
- Base cost of approximately $167/month for a 65-year-old
- Age adjustment (premiums increase approximately $8-10 per month for each year above 65)
Note: Medigap premiums vary dramatically by state, plan letter, insurance company, and pricing method (community-rated, issue-age, or attained-age). This estimate provides a general baseline.
Medicare Advantage Premium (if applicable)
What it shows: Estimated annual premium for a Part C plan
What’s included:
- Average Medicare Advantage premium (approximately $100/month)
- This is IN ADDITION to your Part B premium, which you must continue paying
Note: Many Medicare Advantage plans have $0 premiums, while others charge $50-$200+ monthly. Drug coverage is typically included.
Total Annual Premium
What it shows: Your estimated total Medicare costs for the entire year
Includes: All applicable premiums based on your selections
Does NOT include:
- Out-of-pocket costs (deductibles, copays, coinsurance)
- Costs for services Medicare doesn’t cover (dental, vision, hearing, long-term care)
- Prescription drug out-of-pocket costs beyond premiums
Total Monthly Cost
What it shows: Your total annual cost divided by 12
Use this for: Monthly budgeting and comparing to your current health insurance costs
Frequently Asked Questions
Q: Is this calculator accurate?
A: The calculator uses official 2026 Medicare rates for Part A, Part B, and IRMAA brackets. Medigap, Part D, and Medicare Advantage estimates are based on national averages. Your actual costs may be higher or lower depending on your location and specific plan choices.
Q: Why is my Part B premium higher than the standard $185?
A: If your income exceeds $106,000 (individual) or $212,000 (married filing jointly), you’re subject to Income-Related Monthly Adjustment Amounts (IRMAA). The calculator automatically applies these surcharges based on the income you entered.
Q: Can I appeal IRMAA if my income has decreased?
A: Yes! If you’ve experienced a life-changing event (retirement, divorce, death of spouse, loss of income-producing property), you can request that Social Security use more recent income. Contact Social Security to file a reconsideration.
Q: Should I choose Original Medicare or Medicare Advantage?
A: There’s no universally “better” option. Consider:
- Original Medicare + Medigap: Higher monthly premiums, but lower out-of-pocket costs when you need care. See any doctor who accepts Medicare.
- Medicare Advantage: Lower monthly premiums, but potentially higher costs when using services. Must use network providers in most plans.
Q: Does this calculator account for the Part D $2,000 out-of-pocket cap?
A: The calculator estimates premiums only, not out-of-pocket costs. However, starting in 2025, Part D out-of-pocket spending is capped at $2,000 annually — a significant protection for beneficiaries who take expensive medications.
Q: I’m under 65 with a disability. Can I use this calculator?
A: Yes, but results may vary slightly. Medicare eligibility for those under 65 depends on specific qualifying conditions. Premium structures are generally the same, though Medigap availability may differ by state for under-65 beneficiaries.
Q: How do I get more accurate estimates for my area?
A: For plan-specific information:
- Visit Medicare.gov/plan-compare
- Enter your ZIP code
- Compare actual plans available in your county
- Or call 1-800-MEDICARE
