Medicare Cost Calculator
Estimate your annual Medicare costs based on your age, state, coverage options, and expected procedures. This calculator covers Part A, Part B, Part D, and Medigap supplement plans.
Medicare Cost Estimator
Your Part D plan provides prescription drug coverage. The coverage gap (donut hole) has been largely closed.
This Medicare cost estimator provides approximate figures for informational purposes only. Actual costs vary by location, provider, and individual circumstances. Consider comparing Medicare supplement plans, Medicare Advantage comparison options, prescription drug coverage plans, and Medicare enrollment help resources. For long-term care insurance and personalized Medicare advice, consult a licensed insurance agent.
Understanding Medicare Costs
Medicare costs vary significantly based on your coverage choices, location, and healthcare needs. Most beneficiaries pay a standard Part B premium of $185/month in 2026, plus additional costs for Part D prescription drug coverage and optional Medigap supplement plans.
What This Calculator Includes
- Part A (Hospital Insurance): Premium-free for most beneficiaries who paid Medicare taxes for 10+ years.
- Part B (Medical Insurance): Standard monthly premium covering doctor visits, outpatient care, and preventive services.
- Part D (Prescription Drugs): Average monthly premium for prescription drug coverage.
- Medigap Plans: Optional supplement insurance that covers out-of-pocket costs like copays and deductibles.
Tips for Reducing Medicare Costs
- Compare Medicare Advantage plans which may offer lower out-of-pocket costs.
- Review your Part D plan annually during Open Enrollment to ensure it covers your medications.
- Consider a Medigap plan if you have frequent medical visits or planned procedures.
- Check if you qualify for Medicare Savings Programs or Extra Help for prescription costs.