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Medicare Part D Cost Calculator

Estimate Medicare Part D drug plan costs — premiums, deductibles, the $2,000 out-of-pocket cap, IRMAA, and late-enrollment penalties.

Short answer

Medicare Part D Cost Calculator

$1,175Estimated total annual Part D cost

The $2,000 out-of-pocket cap (in effect since 2025) ended the donut hole — catastrophic drug costs are now bounded. Enrolling on time matters: the late penalty (1% of the national base premium per uncovered month) is permanent.

How it's calculated: Premiums $420 ($35 base) + $755 drug costs. Adjust the inputs below to recalculate for your own numbers.

Disclaimer: Estimates only — not insurance, tax, or legal advice. Actual premiums depend on underwriting, state, carrier, claims history, and plan details. Confirm numbers with a licensed agent, broker, or Healthcare.gov before acting.

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$35.00
$60.00
$200
0
$90,000
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Formula used

Total = premiums + IRMAA + penalty + OOP (capped at $2,000)

Since 2025, Part D has a hard $2,000 annual out-of-pocket cap — the infamous donut hole is gone. Costs now come from premiums, income surcharges (IRMAA), and the permanent late-enrollment penalty.

OOP = deductible + 25% of negotiated cost, capped; penalty = 1% × base premium × months uncovered
2026 out-of-pocket cap
$2,000/yr
Average stand-alone premium
~$35/mo
Late penalty
1%/month, for life
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RevenueLab. (2026). Medicare Part D Cost Calculator. Retrieved from https://www.revenuelab.fyi/medicare-part-d-calculator
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<p>Source: <a href="https://www.revenuelab.fyi/medicare-part-d-calculator" target="_blank" rel="noopener">Medicare Part D Cost Calculator — RevenueLab</a> (2026).</p>
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Source: [Medicare Part D Cost Calculator — RevenueLab](https://www.revenuelab.fyi/medicare-part-d-calculator) (2026).

Re-shop your plan every fall

Formularies, tiers, and preferred pharmacies change every January. The same drug list can cost $800/yr on one plan and $2,600 on another — Medicare's Plan Finder routinely finds 40%+ savings for people who bother. Annual enrollment runs October 15 to December 7.

  • A drug moving from tier 2 to tier 3 can triple its copay overnight.
  • Preferred vs standard pharmacy pricing differs by 20–40% on the same plan.
  • Manufacturer patient-assistance programs stack with Part D for expensive brands.

FAQ

Is there still a donut hole in 2026?

No — the coverage gap closed with the Inflation Reduction Act. Since 2025, Part D has a hard $2,000 out-of-pocket cap; after you hit it, covered drugs cost $0 for the rest of the year.

How does the Part D late-enrollment penalty work?

1% of the national base beneficiary premium (~$37) for every month you lacked creditable drug coverage after 65 — added to your premium permanently. 24 months late = ~$9/mo for life.

Do I need Part D if I take no medications?

You need creditable coverage (Part D, an MA plan with drugs, VA, or employer coverage) or the permanent penalty starts accruing. The cheapest stand-alone plan (~$5–15/mo) is cheap insurance against the penalty and mid-year diagnoses.

How this calculator is built

Independently maintained

Written by Sam Doshi and the RevenueLab editorial team. We don't sell the data feeds this tool is built on.

Sourced from primary data

Benchmarks come from public AdSense / Stripe / IRS disclosures and reader-submitted data — never third-party "$X per view" claims. Full methodology.

Last editorial review

Reviewed on a rolling quarterly cycle. Dated reviews are published on the methodology record for each calculator.

Editorial standards

See our editorial policy and disclaimer. Results are estimates, not advice.

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