Medicare Costs at a Glance
In general, Medicare Parts A & B pays 80% coinsurance of your hospital & medical bills; You’ll pay the remaining 20% coinsurance of the bills plus deductibles and copays which vary depending on the Medicare approved service.
Most people choose to add a Medicare Supplement Plan (Medigap) to help pay for ALL or SOME of your out-of-pocket costs for Medicare approved services.
If you choose to “REPLACE” Medicare Parts A & B with alternative coverage called an Advantage Plan then you must follow the insurance company’s specific plan out-of-pocket cost structure.
| 2020 Medicare Parts A & B Costs at a Glance | |
|---|---|
| Part A Premium | Most people don’t pay a monthly premium for Part A (sometimes called “premium-free Part A”) |
| Part A Deductible | $1,408 deductible for each benefit period |
| Part A Coinsurance |
|
| Part B Premium | The standard Part B premium amount is $144.60 (may be higher depending on your income reported 2018 IRS tax returns) |
| Part B Deductible | $198 annual deductible |
| Part B Coinsurance | After your deductible is met, you typically pay 20% of the Medicare-approved amount for most doctor services (including most doctor services while you’re a hospital inpatient), outpatient therapy, and durable medical equipment (dme) |
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