How much does Medicare cost?

Medicare Part A (Hospital Insurance)

Premium: Part A (Original Medicare) is $0 for most people (who paid Medicare taxes for at least 10 years).

Out-of-Pocket Costs for Care: You’ll pay a deductible before Part A (Original Medicare) pays it share. After you pay your deductible, you’ll pay a copayment for your hospital stays. Your copayments will vary depending on how long you have been in the hospital or in a skilled nursing facility.

Medicare Part B (Medical Insurance)

Premium: You’ll pay a monthly premium for Part B (Original Medicare) coverage. The premium changes each year. Visit medicare.gov to find out what the Part B premium is this year. If you don’t enroll when are first eligible for Part B and sign up later, you may have to pay a late enrollment penalty. You will have to pay this penalty for as long as you have Part B coverage. If you are still working after age 65 and have health care coverage through your employer, you may qualify for a Special Enrollment Period (SEP). If you qualify for an SEP, you likely will not have to pay a late enrollment penalty

Out-of-Pocket Costs for Care: You’ll pay a yearly deductible for Part B (Original Medicare). You will have to pay this amount before Part B starts to pay its share of your health care costs. After you pay the deductible, typically, you will pay 20% of your health care costs and Medicare will pay 80%.

Medicare Advantage (Part C)

Premium: You may have a monthly premium with a Medicare Advantage (Part C) plan. It will depend on what plan you choose. Remember: You will have to continue to pay your Part B (Original Medicare) premium if you choose a Medicare Advantage (Part C) plan.

Out-of-Pocket Costs for Care: Your out-of-pocket costs will vary depending on what type of Medicare Advantage (Part C) plan you choose. Part C plans do have yearly limits on how much you will pay out-of-pocket for your care.

Prescription Drug (Part D)

Premium: Your monthly premium cost will depend on what plan you choose. If you don’t enroll in Medicare Part D prescription drug coverage when you're first eligible and sign up later, you may have to pay a late enrollment penalty. You will have to pay this penalty for as long as you have Part D coverage. If you are still working after 65 and have creditable prescription drug coverage through your employer or your spouse’s employer, you may qualify for a Special Enrollment Period (SEP). If you qualify for an SEP, you may not have to pay a late enrollment penalty.

Out-of-Pocket Costs for Care: Your out-of-pocket costs will depend on what prescriptions you fill each month. Depending on your income, you may qualify for "Extra Help" (also called Low Income Supplement or LIS) from Medicare. "Extra Help" may help you pay for your out-of-pocket prescription drug costs.

Medicare Supplement (Medigap)

Premium: Your monthly premium cost will depend on what plan you choose, where you live and more. Medicare Supplement (also called Medigap) policy rates change every year. Remember: You will have to continue to pay your Part B (Original Medicare) premium if you choose a Medicare Supplement policy.

Out-of-Pocket Costs for Care: Medicare Supplement plans help lower your share of the costs for services Original Medicare (Part A and Part B) covers, like copays and coinsurance.