Medicare Premium & Subsidy Calculator
Estimate your monthly Part B and Part D premiums, applying IRMAA surcharges or subsidies based on income
Additional Information and Definitions
Annual Income
Your gross annual income if you don't know monthly
Monthly Income
Your gross monthly income, used to determine IRMAA or subsidy
Marital Status
Single or Married
Enroll in Part B
Whether you have Part B coverage
Enroll in Part D
Whether you have Part D coverage
Simplify Your Medicare Costs
Calculate how much you might pay for Medicare premiums
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Understanding Medicare Premiums & Subsidies
Key concepts to help interpret your Medicare costs
IRMAA:
An income-related monthly adjustment amount if your monthly income is above $6000 (single).
Subsidy:
A $50 assistance if your monthly income is under $5000, reducing your total premium.
Part B:
Medical insurance covering doctor services, outpatient care, medical supplies, and preventive services.
Part D:
Prescription drug coverage offered through private plans approved by Medicare.
5 Little-Known Facts About Medicare Costs
Medicare can be complicated, but certain insights can save you money and stress. Here are five facts:
1.IRMAA Surprises
Many retirees are surprised by IRMAA charges if their retirement income is above thresholds.
2.Part D Variation
Different Part D plans vary widely in premiums and formularies, so compare to save big.
3.Late Enrollment Penalties
Missing initial enrollment can lead to permanent Part B or D penalty fees.
4.Subsidies Aren’t Automatic
You often must apply for subsidies or extra help; it’s not automatic even if you qualify.
5.Annual Reevaluation
Your income and plan coverage changes yearly; reevaluating each enrollment period is crucial.