Free online estimator — see your Medicare Part B, Part D & Advantage costs
This free Medicare premiums calculator helps you estimate how much you'll pay for Medicare coverage based on your income. Medicare costs can be confusing — Part A, Part B, Part D, Medicare Advantage, IRMAA surcharges... this tool makes it simple.
Enter your annual income and filing status to see if you'll owe the IRMAA (Income-Related Monthly Adjustment Amount) surcharge. Higher-income beneficiaries pay more for Part B and Part D — this calculator shows you exactly how much.
IRMAA stands for Income-Related Monthly Adjustment Amount. If your income exceeds certain thresholds, you'll pay an extra premium on top of your standard Part B and Part D costs. The thresholds are based on your tax return from two years ago.
For 2024, single filers with income above $103,000 and joint filers above $206,000 start paying IRMAA. The surcharge increases as your income goes up — up to $400+ extra per month for the highest earners.
How is IRMAA calculated?
IRMAA is based on your modified adjusted gross income (MAGI) from two years prior. If your income was higher in the past but has since dropped, you can request a reconsideration — especially if you had a life-changing event like retirement or marriage.
Is Part A really free?
Most people get Part A premium-free because they paid Medicare taxes for 10+ years while working. If you haven't worked enough quarters, Part A costs up to $505/month in 2024.
When do I sign up for Medicare?
Your initial enrollment period starts 3 months before you turn 65 and ends 3 months after — a 7-month window. Signing up late can result in permanent late enrollment penalties.
Can I avoid IRMAA?
There are legal strategies to reduce your MAGI, like maximizing contributions to retirement accounts or Health Savings Accounts (HSAs). Spreading out retirement account withdrawals across multiple years can also help you stay under the IRMAA thresholds.
What's the difference between Medicare and Medicaid?
Medicare is for people 65+ and certain disabled individuals. Medicaid is for low-income people of any age. Some people qualify for both (called "dual eligible") and may have all their costs covered.
Medicare has four parts, each covering something different. Here's what you need to know:
IRMAA stands for **Income-Related Monthly Adjustment Amount**. It's a surcharge that higher-income Medicare beneficiaries pay on top of their standard Part B and Part D premiums.
Want to save money on Medicare? Here are proven strategies:
How much does Medicare cost per month in 2026?
For most people, Medicare costs about $175-$200/month for Part B (standard premium), plus $30-$50/month for Part D prescription drugs. Part A is free for most people. Total out-of-pocket: about $200-$300/month, plus deductibles and copays. Higher-income people pay more due to IRMAA — up to $500+/month extra.
Do I need to sign up for Medicare if I'm still working?
If you're still working at age 65 and have health insurance through your employer (or your spouse's employer), you can delay Medicare enrollment without penalty — as long as the employer has 20+ employees. Smaller employers (under 20) usually require you to sign up for Medicare at 65. Check with your HR department.
What's the difference between Medicare and Medicare Advantage?
Original Medicare (Parts A + B) is the traditional government-run program — you can go to any doctor that accepts Medicare, and you pay deductibles and coinsurance. Medicare Advantage (Part C) is private insurance that replaces Original Medicare. It usually has lower out-of-pocket costs, but you have to use in-network providers. Many Medicare Advantage plans include dental, vision, and hearing — extra benefits Original Medicare doesn't have.
Can I change Medicare plans every year?
Yes! During the Annual Enrollment Period (October 15 – December 7), you can switch from Original Medicare to Medicare Advantage, change Medicare Advantage plans, or switch Part D prescription drug plans. Your new coverage starts January 1. This is your chance to shop around and find a better deal.
What if I can't afford Medicare premiums?
If your income is low, you may qualify for Medicaid (which can pay your Medicare premiums and cost-sharing). There are also Medicare Savings Programs (MSPs) that help pay Part B premiums for people with limited income. Check with your state's Medicaid office to see if you qualify.