Medicare: Costs & Coverage in 2026
Medicare Part B has a standard monthly premium of $195 in 2026. Most people get Part A (hospital insurance) premium-free. Total Medicare costs typically range from $200-500/month depending on whether you add Part D drug coverage, Medigap supplement insurance, or choose a Medicare Advantage plan. Higher-income beneficiaries pay more through IRMAA surcharges. Missing your initial enrollment window can result in lifetime late enrollment penalties.
How much will Medicare cost you?
16-factor estimator including Part B, Part D, Medigap, Advantage plans, IRMAA income tiers, and dental/vision add-ons.
Estimate your costsOriginal Medicare vs Medicare Advantage — which is better?
Original Medicare lets you see any doctor nationwide. Advantage plans have lower premiums but use networks. Medigap fills the gaps in Original Medicare.
Search plansWhat does Medicare cover? The 4 parts explained
Part A — Hospital Insurance
Covers inpatient hospital stays, skilled nursing facility care, hospice, and some home health care. Most people get Part A premium-free.
Part B — Medical Insurance
Covers doctor visits, outpatient care, preventive services, and medical supplies. Standard premium is $174.70/month in 2026.
Part C — Medicare Advantage
All-in-one alternative to Original Medicare offered by private insurers. Often includes Part D and extra benefits like dental and vision.
Part D — Prescription Drugs
Adds prescription drug coverage to Original Medicare. Plans vary by formulary and monthly premium.
Medigap (Supplemental Insurance)
Pays some or all of the out-of-pocket costs not covered by Original Medicare, like copays, coinsurance, and deductibles. Sold by private insurers.
People Also Ask
How much does Medicare cost in 2026?
Part B has a standard monthly premium of $195 in 2026. Part A is premium-free for most people (40+ work quarters). Part D drug plans average $35/month. Medigap Plan G averages $150/month at age 65. Medicare Advantage plans often have $0 premiums but higher out-of-pocket costs. Your Part B premium may be higher if your income exceeds $106,000 (single) or $212,000 (joint).
What is the difference between Medicare and Medicare Advantage?
Original Medicare (Part A + Part B) is federal health insurance that lets you see any doctor nationwide. Medicare Advantage (Part C) is a private plan alternative that often includes Part D and extra benefits (dental, vision, hearing) but uses networks and may require referrals. Advantage plans have lower premiums but higher out-of-pocket maximums.
What is Medigap and do I need it?
Medigap (Medicare Supplement Insurance) covers out-of-pocket costs that Original Medicare doesn't — like copays, coinsurance, and deductibles. If you have Original Medicare, Medigap Plan G or Plan N is strongly recommended. The best time to buy is during your 6-month Medigap Open Enrollment Period when insurers can't deny you based on health conditions.
When can I enroll in Medicare?
Your Initial Enrollment Period is 7 months: 3 months before your 65th birthday month, your birthday month, and 3 months after. Missing this window can result in lifetime late enrollment penalties (10% of Part B premium for each 12-month delay). You can also enroll during the General Enrollment Period (Jan 1 - Mar 31) or a Special Enrollment Period if you have qualifying coverage.