Free Medicare Cost Estimator for Seniors
Understanding Your Medicare Costs:
- Part A (Hospital Insurance): Usually free for most seniors but can cost up to $505 per month for those with insufficient work credits.
- Part B (Medical Insurance): The standard premium is $174.70/month but increases for higher-income individuals.
- Part C (Medicare Advantage): Costs vary based on state and provider, with an average cost of $30/month.
- Part D (Prescription Drug Coverage): The average monthly premium is $34.70, but high-income earners pay more.
- Medigap (Supplemental Insurance): Typically costs $150-$200/month, depending on state and provider.
Why Use This Tool?
✔ Helps plan monthly healthcare costs in retirement.
✔ Accounts for state-based cost variations.
✔ Uses current Medicare rates for accuracy.
✔ Simple, fast, and easy-to-use for seniors.
Understanding Medicare costs is essential for effective retirement planning. Medicare expenses vary based on income level, state, and the coverage plan chosen. The Medicare Cost Estimator helps seniors estimate monthly healthcare costs based on real-world factors, ensuring they make informed financial decisions.
Medicare Cost Estimator
Quick monthly cost estimate with a clear breakdown. Estimates only—always confirm with Medicare, your plan, or a licensed agent.
Estimated Monthly Total
Part B (est.)
Plan Premium(s)
Choose your options and click Estimate Costs.
| Component | Notes | Monthly |
|---|---|---|
| Breakdown appears after you estimate. | ||
Uses publicly available baseline amounts (e.g., 2024 Part B standard premium of $174.70) with simplified IRMAA estimates and state factors. Actual premiums vary by county, plan, and income year used for IRMAA. Confirm with Medicare.gov.
How to Use the Tool:
- Select your state – Medicare costs differ by state due to regional pricing variations.
- Enter your annual income – Medicare premiums may be adjusted based on income brackets.
- Choose your coverage plan – Options include Original Medicare (Parts A & B), Medicare Advantage (Part C), or Medigap + Part D.
- Click “Estimate Costs” – The tool calculates your estimated monthly Medicare expenses based on up-to-date pricing.
Disclaimer:
The Medicare Cost Estimator provides general cost estimates based on current Medicare pricing. Actual costs may vary based on insurance provider, state regulations, and changes in Medicare policies. The tool does not offer official government pricing or enrollment assistance. For exact costs, visit Medicare.gov or consult a licensed Medicare specialist. 60AndOver.net is not responsible for discrepancies between estimated and actual costs.
