Information deemed accurate when published, but not guaranteed. Information subject to change from time-to-time without notice.
Medicare Costs Breakdown
Most people don't pay a monthly premium for Part A (sometimes called "premium-free Part A"). If you buy Part A, you'll pay up to $471 each month in 2021. If you paid Medicare taxes for less than 30 quarters, the standard Part A premium is $471 in 2021. If you paid Medicare taxes for 30-39 quarters, the standard Part A premium is $259 in 2021. Part A Hospital Inpatient Deductible and Coinsurance.
- $1,484 in 2021 deductible for each benefit period
- Days 1-60: $0 coinsurance for each benefit period
- Days 61-90: $371 in 2021 coinsurance per day of each benefit period
- Days 91 and beyond: $742 in 2021 coinsurance per each "lifetime reserve day" after day 90 for each benefit period (up to 60 days over your lifetime)
- Beyond lifetime reserve days: all costs
Part B Premium
The standard Part B premium amount is $148.50 in 2021 (or higher depending on your income).
Part B Deductible and Coinsurance
$203 per year in 2021. After your deductible is met, you typically pay 20% of the amount for most doctor services (including most doctor services while you're a hospital inpatient), outpatient therapy, and durable medical equipment.
What is a Benefit Period?
The way that Original Medicare measures your use of hospital and skilled nursing facility (SNF) services. A benefit period begins the day you're admitted as an inpatient in a hospital or SNF. The benefit period ends when you haven't gotten any inpatient hospital care (or skilled care in a SNF) for 60 days in a row.
- Part A Deductible = $1,484 in 2021 (per benefit period)
- Part B Premium = $148.50 in 2021 (or higher depending on income)
- Part B Deductible and Coinsurance = $203 in 2021 (per year) and 20% of Medicare accepted charges
Quick Reference: Late Enrollment Penalties
- Medicare Part B – 10% per 12 months after initial enrollment window is missed.
- Medicare Part D / PDP Plans – Medicare calculates the penalty by multiplying 1% of the "national base beneficiary premium" ($33.06 in 2021) times the number of full, uncovered months you didn't have Part D or creditable coverage. The monthly premium is rounded to the nearest $.10 and added to your monthly Part D premium.
Medicare Supplement Enrollment Without Underwriting / Initial Enrollment
2041 E. Square Lake Rd., Suite 100 • Troy, MI 48085
The Senior Health Shop specializes in Medicare Supplements and other health insurance solutions for America’s Seniors. We value the generations that helped build our great country, and we make our living helping America’s Seniors understand Medicare, what it pays, what it doesn’t, and filling those gaps. Copyright 2021