How much does Medicare actually cost?
Part A is usually free, but Parts B, C, and D have monthly premiums. Here is what most people pay.
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Part A (hospital)
Usually $0 monthly premium if you or your spouse paid Medicare taxes for at least 10 years. There is still a hospital deductible per benefit period.
Part B (outpatient + doctor)
The standard monthly premium is set each year by Medicare. Higher-income enrollees pay more (IRMAA surcharge). There is also an annual deductible. After the deductible, you pay 20% of Medicare-approved amounts unless you have a Medicare Supplement.
Part C (Medicare Advantage)
Premium varies — many plans are $0 extra premium on top of your Part B premium, but you still pay your Part B premium. Watch the maximum out-of-pocket — that is your worst-case-scenario cost for the year.
Part D (prescriptions)
Standalone Part D plans have a monthly premium that varies by plan. Higher-income enrollees pay more (IRMAA). There is usually a deductible and tiered copays. See our prescription coverage guide.
Other costs to think about
- Dental, vision, hearing — not covered by Original Medicare. More on this.
- Long-term custodial care — not covered.
- Most overseas care — not covered.
Related guides
More plain-language guides from Senior Plan Path.