Speak with a Licensed Agent Now: 1-855-368-4717, TTY 711

Speak with a Licensed Agent Now:
1-855-368-4717, TTY 711

What does Medicare cost?

How much does Medicare cost? The cost of Original Medicare includes premiums, deductibles, and coinsurance for Medicare Part A and Part B. Furthermore, you may have Medicare Part D prescription drug costs. Discover all your 2021 Medicare costs.

  • Medicare Part A Costs in 2021
  • Medicare Part B Costs in 2021
  • Medicare Part D Costs in 2021

The premium cost of Medicare Part A depends on the number of quarters you worked. Most people have worked 40 quarters or more, so Part A premium cost is zero. The Part A deductible is $1484 in 2021 for each benefit period of 60 days or less.

For example, you become a hospital inpatient on January 1, 2021 and pay $1484 deductible. Then 60-days later on March 2, 2021 a doctor admits you as a hospital inpatient and you pay $1484 deductible again. Therefore, the worst case scenario a Medicare beneficiary goes in and out of the hospital 6 times in the year and pays maximum $8,904 total in Part A deductibles.

To avoid the expensive cost of multiple hospitalizations, you could buy a Medicare Supplement Plan by calling Senior Healthcare Direct at 1-855-368-4717, TTY 711, or get your quote.

Medicare Part B covers the cost of ground ambulance transportation to a hospital or skilled nursing facility. In addition, Part B covers the cost of outpatient medical stays at any hospital or other facility for less than 24 hours. Furthermore, Medicare Part B covers the cost of preventive services such as your annual flu shot and annual wellness visit.

The standard Part B premium is $148.50 in 2021. However, high earners pay more.

The Part B deductible is $203 in 2021 and coinsurance is 20% of Medicare-approved medical costs.

 

Similar to Part B, Medicare Part D prescription drug costs varies based on income. If your tax return income in 2019 was $87,000 or less (either filed individually or filed married with separate tax return) or $174,000 or less (if married and filed jointly), then you only pay the plan premium in 2021. In most states, plan premiums start around $10 – $15 per month.

However, if your tax returns in 2019 were higher, you will pay more than the plan premium.

Hospital Coinsurance Costs

The coinsurance of Medicare Part A is $0 for the first 60 days of inpatient hospitalization. However, coinsurance costs for days 61 thru 90 is $371 per day in 2021. In other words, the coinsurance costs for these 30 days is $11,130. Discover all Part A hospital costs in 2021.

You can avoid these expensive out-of-pocket costs when you buy a Medigap Plan such as Plan G.

Skilled Nursing Costs

Skilled Nursing Facility coinsurance costs is $0 in 2021 for the first 20 days. However, coinsurance costs for days 21 to 100 is $176 per day. Your share of Medicare costs during these 80 days in a skilled nursing facility totals $14,080.

Furthermore, after 100 days you are responsible for all skilled nursing facility costs. Learn more about Medicare coverage for Skilled Nursing Facility (blog post).

Medicare Part B Premiums 2021

How Much Will Medicare Cost You?

Please use the Medicare Part B Premiums for 2021 chart to determine your monthly cost. The annual Part B deductible is $203 in 2021. After you pay the deductible, you may owe 20% coinsurance.

Since there is no limit or cap on your 20% coinsurance, it can add up to thousands of dollars. You can avoid unlimited coinsurance expenses by getting a Medicare Supplemental Plan. Then you can have a fixed healthcare cost no matter how often you need medical services.

Common questions about medicare

How do I sign up for Medicare Part A only?

When you enroll in Medicare you sign up for Part A. However, Medicare Parts B, C, and D are optional so you can delay enrollment without penalty if you have credible coverage.

How to sign up for Medicare Part B?

You can apply for Medicare Part B by filling out an online application at SSA.org, calling Social Security at 1-800-772-1213, TTY 711, or visiting your local Social Security office.

How to sign up for Medicare Part D?

You must first be enrolled in either Medicare Part A or Medicare Part B. Then you can apply for Medicare Part D by calling Senior Healthcare Direct at 1-855-368-4717, TTY 711.

Common questions about medicare

When you enroll in Medicare you sign up for Part A. However, Medicare Parts B, C, and D are optional so you can delay enrollment without penalty if you have credible coverage.

You can apply for Medicare Part B by filling out an online application at SSA.org, calling Social Security at 1-800-772-1213 or visiting your local Social Security office.

You must first be enrolled in either Medicare Part A or Medicare Part B. Then you can apply for Medicare Part D by calling Senior Healthcare Direct at 1-855-368-4717.

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