Medicare Cost Calculator
Estimate monthly and annual Medicare premiums plus expected out-of-pocket costs.
This page is an editable estimator with realistic defaults so you can model your own situation in minutes.
Total annual Medicare cost = monthly premiums x 12 + annual deductibles + expected copays, coinsurance, and drug costs.
Treat the result as a planning estimate and verify important numbers with the relevant official source before acting.
| Premiums per year | $4,774.80 | |
|---|---|---|
| Deductibles | $600 | |
| Copays/coinsurance | $900 | |
| Drug costs | $700 |
Assumptions
- Most people pay a standard Part B premium, but income-related adjustments and plan premiums vary.
- This is not a Medicare eligibility or plan recommendation tool.
How this calculator works
Formula used
Total annual Medicare cost = monthly premiums x 12 + annual deductibles + expected copays, coinsurance, and drug costs.
Example calculation
Plug in your own numbers and the result updates instantly. Total annual Medicare cost = monthly premiums x 12 + annual deductibles + expected copays, coinsurance, and drug costs.
How this calculator estimates the result
The calculator adds your expected monthly Medicare premiums (Part A if applicable, Part B, Part D, plus any Medigap or Medicare Advantage premium) and any Income-Related Monthly Adjustment Amount (IRMAA) surcharges, multiplies by 12 to get annual premiums, then adds your expected annual deductibles, copays, coinsurance, and out-of-pocket drug costs. The sum is your estimated total annual Medicare cost.
Assumptions baked in
- You are enrolled for the full plan year.
- Part A is premium-free (most beneficiaries with 40+ quarters of Medicare-covered employment).
- Part B premium and IRMAA brackets reflect the values you enter for the current year.
- Out-of-pocket entries reflect your typical year of utilization (not a catastrophic year).
What this calculator does not do
- Does not project late-enrollment penalties for Part B or Part D.
- Does not handle Medicaid dual-eligibility, Extra Help (LIS), or state pharmacy assistance.
- Does not model the Part D catastrophic phase or the annual out-of-pocket cap introduced by the Inflation Reduction Act in detail — enter your expected drug spend.
- Medicare Advantage out-of-pocket maximums and provider networks vary by plan and county; this tool does not pick a plan for you.
A step-by-step example
Scenario: Beneficiary on Original Medicare + a Medigap Plan G + standalone Part D, no IRMAA, modest drug use.
- Part B premium = $185/month → $2,220/year.
- Medigap Plan G premium = $160/month → $1,920/year.
- Part D premium = $35/month → $420/year.
- Part B annual deductible (paid once) = $257.
- Expected out-of-pocket drug costs after Part D coverage ≈ $400.
Result: Estimated annual Medicare cost ≈ $2,220 + $1,920 + $420 + $257 + $400 = about $5,217 for the year, before any dental, vision, or hearing costs Medicare does not cover.
Official references
Sources open in a new tab. Numbers in formulas and brackets above reflect the most recent publicly available values at the time of writing and are reviewed periodically by the TDL Expert Panel.
Medicare Cost Calculator FAQ
Is this medicare cost calculator an official quote?
No. It is an educational estimate only. Actual premiums, subsidies, claims, deductibles, underwriting, and eligibility depend on plan documents, insurers, federal and state rules, and personal facts.
Why might my real cost be different?
Location, age, income, household size, tobacco use, health status where allowed, insurer pricing, coverage level, deductibles, credits, surcharges, and policy exclusions can change real costs.
Should I verify this before buying coverage?
Yes. Confirm results with Medicare.gov, HealthCare.gov, your state Marketplace, licensed insurance professionals, plan documents, or a qualified advisor.