If you are eligible for Medicare and plan to enroll, it’s important for you to understand the costs with each part of Medicare so you can make more informed decisions on the plan that would work best for you.
These are the costs for Medicare as of 2021.
Many don’t have to pay a monthly premium for Part A. This is often called premium-free Part A, and you likely qualify for it if you or your spouse paid Medicare taxes for a certain amount of time while working.
If you don’t qualify for premium-free Part A and you paid Medicare taxes for less than 30 quarters, you can purchase it for $471 each month in 2021. If you paid Medicare taxes for 30-39 quarters, your monthly premium in 2021 is $259.
For your Medicare Part A deductible and coinsurance, you pay:
In 2021, the standard Part B monthly premium is $148.50, although it may be higher based on your income.
The Medicare Part B deductible is $203. Once you meet the deductible, you will pay 20% of the Medicare-approved cost for most doctor services, durable medical equipment, and outpatient therapy.
The monthly premium for Medicare Part C, or Medicare Advantage, varies depending on your plan. However, the average premium as of 2021 for Part C is $21. Those enrolled in Part C will also have to pay the Part B premium.
The Medicare Part D monthly premium varies by plan, and you may pay more if you have a higher income. However, the average premium as of 2021 is $30.50 and they have a maximum deductible of $445.
But, Senior Health Solutions in Opelika, AL can help. We will help you determine the coverage you need and provide you with quotes from some of the top insurance companies to ensure you are completely aware of all the options available to you. You can give us a call at (866) 445-5215 to get started.
We are not connected with or endorsed by the United States government or the federal Medicare program. We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.
