How Do You Calculate a Medicare Premium?


Quick Answer

A Medicare premium can be calculated online, according to Medicare.gov. Though the online calculator can calculate premiums for most individuals, it does not work for those who are not 65 years old. It also does not work for those who have dropped or lost Part B coverage in the past.

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Full Answer

As of 2015, most people who choose Medicare Part B pay a premium of $104.90 each month, claims Medicare.gov. The Medicare Part B deductible is $147 per year. Most people do not pay any premium for Medicare Part A, but if choosing to buy Medicare Part A, it is up to $407 per month.

There is also a Medicare Part A hospital inpatient deductible, explains Medicare.gov. In this case, a person who chooses this plan pays a $1,260 deductible each time the benefit period comes around. From the first until the 60th day in the hospital, a person does not pay coinsurance. However, from the 61st to the 90th day, the individual is responsible for $315 coinsurance each day and beyond 91 days, the cost is $630 for coinsurance each day. For people who are interested in Medicare Part C or Part D, the cost of the premium varies by the plan, but an individual can compare those costs on the Medicare website.

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