The cost of Medicare is not one premium. It is a stack: Part B, possibly Part A, drug coverage, supplemental coverage, cost sharing and services Medicare does not cover.
The 2026 starting numbers
- Part A premium: $0 for most people. If purchased, $311 or $565 per month depending on work history.
- Part A hospital deductible: $1,736 for each benefit period.
- Part B premium: $202.90 per month for most people.
- Part B deductible: $283 per year, followed by typically 20% coinsurance for covered services under Original Medicare.
- Part D deductible: varies; no plan can exceed $615 in 2026.
- Part D covered-drug out-of-pocket cap: $2,100 in 2026.
Build three budget lines
Fixed premiums: Part B plus Part D, Medigap or a Medicare Advantage premium. Expected use: routine copays, medicines and predictable care. Uncovered reserve: dental work, hearing aids, glasses, travel and other gaps.
IRMAA can change the bill
Higher-income beneficiaries pay an Income-Related Monthly Adjustment Amount for Part B and Part D. Medicare generally looks at tax information from two years earlier. Retirement, marriage, divorce, death of a spouse or loss of income-producing property may support a request to use more recent income through Social Security.
Compare a normal year and a difficult year
For Original Medicare, include the absence of an annual out-of-pocket maximum unless Medigap or other supplemental coverage limits your exposure. For Medicare Advantage, use the plan’s in-network and, when applicable, combined out-of-network maximum—not merely its premium.
A $0-premium plan still requires the Part B premium and may charge copays. A higher-premium Medigap arrangement may trade predictable monthly cost for lower cost sharing. Neither is automatically cheaper for every person.In the RetireNerd Medicare Series
- Medicare Explained: The Complete, Easy-to-Follow Guide
- How Much Does Medicare Cost in 2026? A Realistic Monthly Budget
- Medicare for Married Couples: What Spouses Need to Handle Separately
- Does Medicare Cover Dental, Vision and Hearing?
- What Does Medicare Cover for Free? Preventive Services Explained
- What Medicare Does Not Cover: 10 Gaps to Plan For
- Original Medicare vs. Medicare Advantage: How to Choose
- When to Sign Up for Medicare: Deadlines, Work Coverage and Penalties
- Medicare Part D: How to Compare Drug Plans Every Year
Official resources
- Medicare.gov
- Medicare Plan Compare
- Free, unbiased SHIP counseling
- Sign up for Medicare through Social Security
Educational information only. Medicare rules, costs and plan details can change. Confirm decisions with Medicare, Social Security, your current benefits administrator and a licensed professional when appropriate.