What Does Medicare Cost?

Medicare Part A (Hospital Insurance) Costs

Medicare Part A Monthly Premium
Most people don’t pay a Part A premium because they paid Medicare taxes while working. If you don’t get premium-free Part A, you pay up to $407 each month. (Actually Down from 2014)

Hospital Stay

In 2015 you pay:

  • $1,260 deductible per benefit period
  • $0 for the first 60 days of each benefit period
  • $315 per day for days 61–90 of each benefit period
  • $630 per “lifetime reserve day” after day 90 of each benefit period(up to a maximum of 60 days over your lifetime)

Skilled Nursing Facility Stay

In 2015, you pay

  • $0 for the first 20 days of each benefit period
  • $157.50 per day for days 21–100 of each benefit period
  • All costs for each day after day 100 of the benefit period

Medicare Part B (Medical Insurance) Costs
Part B Monthly Premium – Base Premium $104.90

You pay a Part B premium each month. Most people will pay the standard premium amount. However, if your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount, you may pay more.

IF YOUR YEARLY INCOME IN 2013 WAS

$85,000 or less $170,000 or less $85,000 or less $104.90
above $85,000 up to $107,000 above $170,000 up to $214,000 N/A $146.90
above $107,000 up to $160,000 above $214,000 up to $320,000 N/A $209.80
above $160,000 up to $214,000 above $320,000 up to $428,000 above $85,000 up to $129,000 $272.70
above $214,000 above $428,000 above $129,000 $335.70

If you have questions about your Part B premium, call Social Security at 1-800-772-1213. TTY users should call 1-800-325-0778. If you pay a late enrollment penalty, these amounts may be higher.

Part B Deductible—$147 per year

Medicare Advantage Plans (Part C) and Medicare Prescription Drug Plans (Part D) Premiums

Part D Monthly Premium
The chart below shows your estimated prescription drug plan monthly premium based on your income. If your income is above a certain limit, you will pay an income-related monthly adjustment amount in addition to your plan premium.

FILE INDIVIDUAL TAX RETURN FILE JOINT TAX RETURN FILE MARRIED & SEPARATE TAX RETURN YOU PAY (IN 2014)
$85,000 or less $170,000 or less $85,000 or less Your plan premium
above $85,000 up to $107,000 above $170,000 up to $214,000 N/A $12.10 + your plan premium
above $107,000 up to $160,000 above $214,000 up to $320,000 N/A $31.10 + your plan premium
above $160,000 up to $214,000 above $320,000up to $428,000 above $85,000 up to $129,000 $50.20 + your plan premium
above $214,000 above $428,000 above $129,000 $69.30 + your plan premium

2015 Part D National Base Beneficiary Premium—$33.13

This figure is used to estimate the Part D late enrollment penalty and the income-related monthly adjustment amounts listed in the table above. The national base beneficiary premium amount can change each year. See your Medicare & You handbook or visit Medicare.gov for more information.

For more information about Medicare costs, visit Medicare.gov.

Source: Medicare.gov – Medicare Has not reviewed or endorsed any of the information on this website.