And what they cover
Part A is your hospital coverage and covers:
$0 – if you worked for 40+ quarters throughout your life
$278 per month – if you worked for 30-39 quarters
$506 per month – if you worked less than 30 quarters
Deductible – $1,600 per benefit period (2023)
The Part A benefit period begins the day you are admitted as an inpatient in a hospital. The benefit period ends when you haven’t received any inpatient hospital care for 60 days in a row.
Part B is your medical coverage
$164.90 per month – (for most people)
Costs may be higher for those with higher incomes.
$226 per year
20% of the Medicare fee schedule
There is no limit or maximum to your 20% responsibility
These plans may also include:
Starting at $0
Premiums range from company to company as well as where you live because Medicare Advantage plans are built around specific zip codes. Several carriers and plans have $0 premiums in certain regions while others have a slightly higher monthly premium.
Expect between $0 – $100 per month.
Cost Sharing You will have some cost sharing in the form of copays and coinsurance with your Medicare Advantage plans. These costs will vary based on the insurance company and plan you choose.
Premiums can vary from company to company depending on your medications and where you live. Medicare Part D plans are built around specific zip codes.
Premiums may also be adjusted for those with higher incomes.
Part D is notoriously complicated, which is why we have a whole page dedicated to Part D coverage details.