How much does Original Medicare Part A and Part B cost? It is important to understand the basics of Medicare costs. Most people pay no premium for Original Medicare Part A. The costs are dependent on how many quarters you have worked. The premium for Original Medicare Part B depends on your income. For both Part A and Part B, there are also deductibles and coinsurance. You may also qualify for help paying for Medicare costs.
The cost for Part A premium is dependent on how many quarters you have worked. If you did not work over 40 quarters, you might be eligible under your spouse.
Part A Premium Costs:
|Medicare Part A costs in 2021|
|Premium if you have worked over 40 quarters||$0|
|Premium if you have between 30 and 39 working quarters||$259/month|
|Premium if you have fewer than 30 working quarters||$471/month|
|Inpatient hospital daily coinsurance for days 61 to 90||$371/day|
|Inpatient hospital daily coinsurance for 60 lifetime reserve days||$742/day|
|Skilled nursing facility (SNF) daily coinsurance for days 21 to 100||$185.50/day|
How much is Medicare Part B premium?
The cost for Part B depends on your income. Most people will pay the standard premium. If your modified adjusted gross income is above a certain amount, you may pay an Income Related Monthly Adjustment – IRMAA.
Part B Premium Costs:
|Medicare Part B costs in 2021|
|Premium||$148.50 in 2021|
|Annual Deductible||$203 in 2021|
Learn More: What is Part B late enrollment penalty?
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