All calculators › Medicare Budget Calculator
Medicare Budget Calculator
Add your monthly Medicare-related premiums and out-of-pocket costs into a monthly and yearly budget.
How this calculator works
Enter your Part B premium, Part D premium, supplement (Medigap) premium and other out-of-pocket costs per month. The calculator adds them for a monthly total and multiplies by 12 for the yearly total. Premiums change each year and depend on your income and plan, so use the amounts from your plan documents or Medicare.gov. The numbers in the example are only illustrations.
Example
Illustrative amounts of $185 for Part B, $35 for Part D, $150 for a supplement and $120 of other costs per month. The calculator shows: Monthly: $490.00 · Yearly: $5,880.00.
Tips
- Look up the current year’s Part B premium on Medicare.gov, since it changes and can be higher for higher incomes.
- Compare plans during the open enrollment period each year, because your needs and plan costs can change.
- Include dental, vision, hearing and prescription costs in the out-of-pocket figure, since original Medicare does not cover many of them.
Common questions
Are the example amounts current premiums?
No. They are only for illustration. Enter your own amounts from your plan and Medicare.gov.
What is Medigap?
A private supplement policy that helps pay costs original Medicare leaves, like copayments and deductibles. Plans and prices vary.
Related calculators
- Senior Living Cost Calculator
- Long-Term Care Cost Calculator
- Assisted Living Calculator
- All 64 calculators
Results are estimates only. See our disclaimer.