What Does Medicare Actually Cost?
Medicare has several moving cost pieces — premiums, deductibles, and coinsurance — and they're different for each part. The figures below are approximate 2026 amounts meant to give you a general sense of scale. Costs change every year, so always confirm the current numbers on Medicare.gov.
By the Numbers
Approximate 2026 Costs by Part
Figures above are illustrative estimates for 2026 and are not specific to any insurer or plan. Actual amounts are set annually by Medicare and vary by plan, location, and income.
Higher Earners
What Is IRMAA?
IRMAA stands for Income-Related Monthly Adjustment Amount. If your income is above a certain threshold (based on your tax return from two years prior), Medicare adds a surcharge to your Part B and Part D premiums. The surcharge is tiered — the higher your income, the higher the adjustment. Most people don't pay IRMAA; it only applies above certain income levels, which are published annually by Medicare.
Keep In Mind
A Few Things That Affect What You Pay
Original Medicare Has No Cap
Part A and Part B alone have no annual out-of-pocket maximum, which is why many people add a Medigap policy or choose Medicare Advantage instead.
Advantage Plans Cap Your Spending
Medicare Advantage plans are required to include an annual out-of-pocket maximum, after which the plan pays 100% for covered services.
Part D Now Has a Cap Too
Since the Inflation Reduction Act phased in changes, Part D out-of-pocket drug costs are capped annually, which is new protection compared to prior years.