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                                Medicare 2024 Costs
What are my coverage options?

There's no out-of-pocket maximum on what you pay, unless you have supplemental coverage, like a
Medicare Supplement Insurance (Medigap)
policy, or you join a 
Medicare Advantage Plan.

Part A (Hospital Insurance) costs:

$0 for most people (because they or a spouse paid Medicare taxes long enough while working - generally at least 10 years). If you get Medicare earlier than age 65, you won’t pay a Part A premium. This is sometimes called “premium-free Part A.”

If you don’t qualify for premium-free Part A: You might be able to buy it. You’ll pay either $278 or $505 each month for Part A, depending on how long you or your spouse worked and paid Medicare taxes.

You also have to sign up for Part B to buy Part A. Learn more about how Medicare works.
If you don’t buy Part A when you’re first eligible for Medicare (usually when you turn 65), you might pay a penalty. Find out more about how to avoid the Part A penalty.

You pay:

  • $1,632 deductible for each benefit period. There’s no limit to the number of benefit periods you can have in a year. This means you may pay the deductible more than once.
  • Days 1-60: $0 after you pay your Part A deductible.
  • Days 61-90: $408 copayment each day.
  • Days 91-150: $816 copayment each day while using your 60 lifetime reserve days.
  • After day 150: You pay all costs.

Part B (Medical Insurance) costs:

  • $174.70 Premium each month (or higher depending on your income). The amount can change each year.
  • $240 Deductible before Original Medicare starts to pay. You pay this deductible once each year.
  • 20% of the cost for each Medicare-covered service or item after you’ve paid your deductible (and as long as your doctor or health care provider accepts the Medicare-approved amount.)

Medicare Advantage Plan (Part C) costs:

  • Premiums & other costs (like deductibles, copayments, & coinsurance) Varies by plan. These amounts can change each year.
  • You must have Part B and keep paying your Part B premium to stay in your plan.
  • Out-of-pocket limit Varies by plan. Once you pay the plan’s limit, the plan pays 100% of your covered health services for the rest of the calendar year.

Medicare Supplemental Insurance (Medigap) costs:

  • Premium varies based on which Medigap policy you buy, where you live, and other factors. The amount can change each year.

Part D (Drug Coverage) costs:

  • Varies by plan. You may have to pay more, depending on your income.
  • Deductibles, copayments, & coinsurance Varies by plan and pharmacy.
  • Avoid paying a penalty: Join a Medicare drug plan when you first get Medicare Part A and/or Part B, and don’t go 63 days or more without 
    creditable drug coverage