See below for what your Medicare premiums, copays, deductibles, and coinsurance Medicare costs will be.
Medicare Part A
Medicare Part A covers hospitalization. Here is what you’ll pay :
- Premium: $0 for most people, but if you don’t qualify for a $0 premium it will cost you $518*
- Deductible: $1,676 (for each benefit period)
- Hospitalization Coinsurance Days 1-60: $0
- Hospitalization Coinsurance Days 61-90: $419 per day
- Hospitalization Coinsurance 60 Lifetime Reserve Days: $838 per day
- Hospitalization Costs after reserve days: 100% of costs
- Skilled Nursing Facility Coinsurance Days 1-20: $0
- Skilled Nursing Facility Coinsurance Days 21-100: $209.50 per day
- Hospice Care: $0*
- Home Health Care: $0**
- Max Out of Pocket Costs: Unlimited
*If you or you spouse has not worked for a minimum of ten years at a job that pays into Social Security you are responsible for the premium.
**There may be additional durable equipment costs and/or respite care costs.
Medicare Part B
Medicare Part B covers day to day care. These are your costs:
- Premium for New Enrollees: $185**
- Deductible: $257
- Clinical Lab Services: $0
- Approved doctor’s services: 20%
- Durable Medical Equipment: 20%
- Preventive Care: $0
- Max Out of Pocket Costs: Unlimited
**If your annual income is large you may pay a higher premium.
Medicare Out of Pocket Costs Too High?
We hear you! There are a few ways to lower these costs. If you do not have Medicaid, retiree, job-based, or other creditable insurance, you will want to consider enrolling in one of the following:
- Medicare Advantage coverage:
- Medigap coverage: also known as Medicare Supplement plans, may cover all of your Medicare out of pockets costs and foreign travel (coverage varies by plan letter), and all add an additional 365 days of hospitalization