Medicare Supplement Cost Calculator
Estimates your total annual Medicare costs including Part B premiums, Medigap plan premiums, Part D drug coverage, and expected out-of-pocket expenses. Ideal for beneficiaries comparing supplement plans during open enrollment.
About this calculator
Medicare costs have several layers. Part B premiums start at $170.10/month but rise via Income-Related Monthly Adjustment Amounts (IRMAA) for incomes above $103,000. The formula adds an IRMAA surcharge of roughly $0.004 per dollar of income above that threshold, capped at $578.30/month. A chosen Medigap plan (A, N, G, or F) adds a fixed monthly premium — Plan F at $180, Plan G at $150, Plan N at $120, Plan A at $100. Part D drug plan premiums are entered directly. The sum of all monthly premiums is multiplied by 12 and by a geographic cost multiplier to account for regional pricing differences. Finally, an annual out-of-pocket estimate is added based on health status: excellent ($500), good ($1,200), fair ($2,500), or poor ($4,000). Total Annual Cost = (Part B + IRMAA + Medigap + Part D) × 12 × locationFactor + out-of-pocket.
How to use
Example: Annual income $120,000, Plan G Medigap, $35/month Part D, good health, geographic factor 1.05. Step 1 — IRMAA surcharge: ($120,000 − $103,000) × 0.004 = $68/month. Step 2 — Monthly premium: $170.10 + $68 + $150 (Plan G) + $35 = $423.10. Step 3 — Annual premiums: $423.10 × 12 × 1.05 = $5,331.06. Step 4 — Add out-of-pocket for good health: $1,200. Step 5 — Total annual cost: $5,331.06 + $1,200 = $6,531.06. Adjust your income, plan, and health status to compare scenarios.
Frequently asked questions
What is the difference between Medicare Plan G and Plan F for supplement coverage?
Plan F is the most comprehensive Medigap policy, covering the Part B deductible in addition to everything Plan G covers — but it is only available to beneficiaries who turned 65 before January 1, 2020. Plan G covers nearly the same benefits except the Part B deductible ($240 in 2024), making it the top option for new enrollees. Because Plan G premiums are typically lower than Plan F, many beneficiaries save money overall even after paying the deductible out of pocket. This calculator lets you compare both plans side by side by switching the Medigap plan selector.
How does income affect Medicare Part B premiums through IRMAA?
The Income-Related Monthly Adjustment Amount (IRMAA) is a surcharge added to the standard Part B premium for higher earners. In 2024, the surcharge begins for individuals with income above $103,000 and for married couples above $206,000. The surcharge scales up across several income brackets, reaching a maximum of roughly $578.30/month. This calculator approximates the IRMAA using a simplified linear formula; actual brackets are tiered, so consult Medicare.gov for precise figures if your income is near a bracket boundary.
Why does geographic location affect Medicare supplement insurance costs?
Medigap insurers are allowed to set their own premiums, and pricing varies significantly by state and county due to differences in healthcare provider costs, state insurance regulations, and local competition. A plan that costs $150/month in a rural Midwest state might cost $200/month or more in a high-cost urban area. The geographic cost multiplier in this calculator (e.g., 1.0 for average, 1.2 for high-cost areas) scales your total premium estimate to reflect regional variation. For precise quotes, contact insurers licensed in your state or use the Medicare Plan Finder tool.