Definition. A premium is the amount you pay, usually monthly, to have coverage, whether or not you use any care. It's different from a deductible or copay, which you pay when you get care. With Medicare you may pay more than one premium: Part B, a drug plan, Medigap or a Medicare Advantage plan.
What it means
- Part A premium: most people pay none because of their work history. People who buy Part A pay $311 or $565 a month in 2026.
- Part B premium: $202.90 a month for most people in 2026, more with higher income (IRMAA) or a late enrollment penalty. You keep paying it if you join a Medicare Advantage plan.
- Part D premium: set by each drug plan. Medicare uses a national base premium ($38.99 in 2026) to figure late enrollment penalties; people with higher incomes also pay a Part D IRMAA amount.
- Medicare Advantage premium: set by each plan, on top of your Part B premium.
- Medigap premium: set by each company and varies by plan letter, age, where you live and how the company prices; Oregon allows attained-age pricing.
In Oregon
If your income is limited, Oregon's Medicare Savings Programs pay your Part B premium, and there's no asset limit; apply through ODHS at one.oregon.gov or 1-800-699-9075. Extra Help, from Social Security, lowers Part D premiums. State and teacher retirees in the PERS Health Insurance Program may qualify for a Retirement Health Insurance Account premium subsidy if they have Part A and Part B. See Medicare costs in Oregon.
Sources
- CMS — 2026 Medicare Parts A & B premiums and deductibles
- Medicare.gov — Medicare costs
- IRS — Topic 502, Medical and dental expenses
- Oregon Department of Human Services — Medicare Savings Programs
Frequently asked questions
Are Medicare premiums tax-deductible?
They can be. Medicare premiums count as medical expenses if you itemize deductions, and the IRS lets you deduct medical expenses above 7.5% of your adjusted gross income. Ask a tax professional about your situation.
Can Oregon help pay my Medicare premiums?
Yes, if your income is limited. Oregon's Medicare Savings Programs pay the Part B premium (and with QMB, the Part A premium too), with no asset limit. Extra Help lowers Part D premiums.
Medicare in your Oregon county
Plans, local agents and help, county by county: Multnomah · Washington · Clackamas · Lane · Marion · Jackson · Deschutes · Linn · Douglas · Yamhill · Benton · Polk · Josephine · Umatilla · Klamath · Coos · Columbia · Lincoln · Clatsop · Malheur · All 36 counties →
