Medicare Cost Calculator
Estimate your Medicare costs including Part A, Part B, Part D, Medicare Advantage, and Medigap options. See how income-related monthly adjustment amounts (IRMAA) might affect your premiums.
Personal Information
$80,000
Coverage Options
$33
Expected Healthcare Usage
8 visits
0 stays
4 meds
Estimated Medicare Costs
Monthly Premiums
| Medicare Part B | $NaN |
| Total Monthly Premium | $0 |
Annual Costs
| Annual Premiums | $0 |
| Estimated Out-of-Pocket | $NaN |
| Total Annual Cost | $0 |
Cost Breakdown
About Medicare Costs
Medicare costs can be complex and vary based on your income, when you enroll, and what coverage options you choose. This calculator helps you estimate these costs to better plan for healthcare expenses in retirement.
Medicare Parts Explained
- Part A (Hospital Insurance): Usually premium-free if you or your spouse paid Medicare taxes for at least 10 years. Covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care.
- Part B (Medical Insurance): Covers doctor services, outpatient care, medical supplies, and preventive services. Everyone pays a monthly premium for Part B, with higher-income beneficiaries paying more due to IRMAA.
- Part C (Medicare Advantage): An alternative to Original Medicare offered by private companies. These plans include Part A and B benefits and often Part D, plus additional benefits like vision, dental, and hearing.
- Part D (Prescription Drug Coverage): Helps cover prescription drug costs. Premiums vary by plan, and higher-income beneficiaries may pay more due to IRMAA.
- Medigap (Medicare Supplement): Private insurance that helps pay costs not covered by Original Medicare, such as copayments, coinsurance, and deductibles.
IRMAA Explained
Income-Related Monthly Adjustment Amount (IRMAA) is an additional amount that higher-income beneficiaries pay for Medicare Part B and Part D premiums. IRMAA is determined based on your modified adjusted gross income (MAGI) from your tax return from 2 years prior.