Medicare isn't free — and the costs can be higher than many people expect, especially for those with higher incomes. Here's a full breakdown of what you'll actually pay in 2026. For context on what each part covers in exchange for these costs, see Medicare Parts A, B, C & D Explained.
Key Takeaways (2026 figures)
- Part A is premium-free for most people; the inpatient deductible is $1,676 per benefit period.
- Standard Part B premium is $202.90/month with a $283 annual deductible, plus 20% coinsurance.
- Part D averages around $46/month, with a new $2,100 annual out-of-pocket cap on drug costs.
- Higher earners pay an IRMAA surcharge on top of standard Part B and Part D premiums.
Part A Costs (2026)
| Item | 2026 Amount |
|---|---|
| Premium — 40+ work quarters | $0/month |
| Premium — 30–39 work quarters | $284/month |
| Premium — under 30 work quarters | $518/month |
| Inpatient deductible | $1,676 per benefit period |
| Coinsurance, days 1–60 | $0 |
| Coinsurance, days 61–90 | $419/day |
| Coinsurance, days 91+ (lifetime reserve) | $838/day |
Part B Costs (2026)
| Item | 2026 Amount |
|---|---|
| Standard premium | $202.90/month |
| Annual deductible | $283 |
| Coinsurance after deductible | 20% of Medicare-approved amount |
Part D Costs (2026)
| Item | 2026 Amount |
|---|---|
| Average premium | ~$46/month (varies by plan) |
| Annual deductible | Up to $615 (varies by plan) |
| Catastrophic out-of-pocket cap | $2,100/year |
IRMAA: Income-Related Monthly Adjustment Amount
Higher-income beneficiaries pay more for Part B and Part D through a surcharge called IRMAA, based on your modified adjusted gross income (MAGI) from two years prior. Most people fall under the threshold and pay the standard premium — but if your income crosses these 2026 brackets (based on 2024 MAGI), expect an add-on:
| MAGI (Individual) | MAGI (Joint) | Extra Part B / month |
|---|---|---|
| $106,000 or less | $212,000 or less | $0 (standard premium) |
| $106,001–$133,000 | $212,001–$266,000 | +$74.00 |
| $133,001–$167,000 | $266,001–$334,000 | +$187.00 |
| $167,001–$200,000 | $334,001–$400,000 | +$299.90 |
| $200,001–$500,000 | $400,001–$750,000 | +$412.90 |
| Above $500,000 | Above $750,000 | +$443.90 |
IRMAA also applies an additional surcharge to Part D premiums at each of these same income brackets. Figures are 2026 estimates and are subject to official CMS updates.
If your income has dropped since the tax year used to calculate your IRMAA — due to retirement, divorce, or the death of a spouse, among other qualifying events — you can appeal by filing Form SSA-44 with the Social Security Administration.
Total Cost Scenarios
A retiree on Original Medicare with no supplement could face $283 (Part B deductible) plus 20% coinsurance on every service with no annual cap — a single hospitalization or surgery could run into thousands of dollars in exposure. Adding a Medigap plan or choosing Medicare Advantage changes that math substantially; see our Medicare Advantage vs. Medigap comparison to weigh the tradeoffs for your own budget.
Kayla Price is licensed in NC, SC, GA, FL, VA, MD, KS, TX, OH, and MI — a free call gets you answers specific to your situation.