Medicare Cost Calculator

The standard 2026 Part B premium is $185.00/month. Most beneficiaries pay this via Social Security deduction. Part A is premium-free if you (or your spouse) worked 40+ quarters paying Medicare tax. Higher-income retirees pay IRMAA surcharges on top — from $74/month extra (MAGI over $106k single) up to $443.90/month (MAGI over $500k single).

Income-Related Monthly Adjustment Amount — a surcharge on Part B and Part D for higher-income beneficiaries. It's based on MAGI from your tax return TWO years ago (2024 return drives 2026 IRMAA). Five tiers for single filers starting at $106,001. If your income dropped due to a "life-changing event" (retirement, divorce, death of spouse), file Form SSA-44 to request a recalculation.

Under the hold-harmless rule, your Social Security payment cannot decrease year-over-year due to rising Part B premiums. If the Part B increase exceeds your SS COLA, the premium is capped at your COLA dollar amount. Does NOT apply to: new Medicare enrollees, IRMAA payers, those whose Part B is paid by Medicaid. Protects about 70% of beneficiaries in typical COLA years.

Medigap (Supplement) + Original Medicare: see any provider accepting Medicare nationwide, predictable costs, Plan G premium ~$150-200/mo. Medicare Advantage (Part C): often $0 premium, bundles Parts A/B/D plus dental/vision, but network restrictions (HMO/PPO), prior authorizations, and balance-billing risk if you need out-of-network care. Medigap suits snowbirds and those wanting freedom; MA suits healthy retirees in-network.

The Medigap Open Enrollment Period is a one-time 6-month window starting the month you turn 65 AND are enrolled in Part B. During this window you have guaranteed issue rights — no medical underwriting, no denials, no rate-ups. Miss it and carriers can deny you or charge higher rates based on health (except in CT, MA, ME, NY which have year-round guaranteed issue). Enroll during this window even if you don't need Medigap today.

Yes — enroll anyway or face a lifelong late enrollment penalty of 1% of the national base beneficiary premium ($46.50 in 2026) per month missed. A 24-month delay = permanent 24% surcharge on every Part D premium for life. Cheapest Part D plans cost $0-15/month in many zip codes. Exception: if you have creditable coverage (employer retiree drug plan), you can defer without penalty — get the creditable coverage letter.

$2,100 annual cap on prescription out-of-pocket costs (up from $2,000 in 2025). Once you hit the cap, Medicare covers 100% of covered drugs for the rest of the year. The Inflation Reduction Act also eliminated the Part D "donut hole" and capped insulin at $35/month. Huge relief for high-cost specialty drug users — a single $10k/month cancer drug is now worst-case $2,100/yr out of pocket.