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It’s good to know what Medicare prices to expect so you can plan your budget. Let’s take a quick look at Medicare prices in 2019.
Original Medicare (Part A and Part B) services often involve out-of-pocket costs from you, such as a deductible and coinsurance or copayments. Here’s a rundown of some Original Medicare prices.
Please note: The coinsurance amounts listed above generally apply to inpatient hospital costs. Part A costs may be different for skilled nursing facilities and long-term care hospitals.
If your income is higher than a certain amount (based on your tax returns from two years ago), you might have to pay the Part B standard premium and an income adjustment amount on top of that.
If you’re worried that your Medicare out-of-pocket costs might get too high for your comfort, you might want to consider a Medicare Supplement plan. Medicare Supplement plans can help pay for your out-of-pocket costs from Medicare Part A and Part B. Learn about Medicare Supplement plans.
To calculate the late enrollment penalty, you take 1% of the national base beneficiary premium ($33.19 in 2019), round it to the nearest $.10, and multiply the result by the number of months that you didn’t have creditable coverage or a Medicare Prescription Drug Plan. You add that figure to the monthly plan premium.
For example, suppose you didn’t sign up for Medicare Part D when you were first eligible for Medicare, and you went 30 months without creditable coverage. Then you decide to enroll in a Medicare prescription drug plan.
So, $9 would be the late enrollment penalty added to your monthly Part D premium. This amount could change year by year.
Medicare prices of Medicare Advantage plans might include monthly premiums, deductibles, coinsurance, and copayments. These costs vary among plans.
When you’re adding up your Medicare prices, remember that if you’re enrolled in a Medicare Advantage plan, you still have to pay your monthly Medicare Part B premium. You also need to pay the Medicare Advantage plan premium – whatever that amount may be. Some plans charge as little as $0 a month.
If you’d like to learn about how you might keep your Medicare prices and costs down as much as possible, we’re here to help. You can call eHealth to speak with a licensed insurance agent. To check out the Medicare coverage options in your area, use the Browse Plans button on this page.
eHealth's Medicare website is operated by eHealthInsurance Services, Inc., a licensed health insurance agency doing business as eHealth. The purpose of this site is the solicitation of insurance. Contact may be made by an insurance agent/producer or insurance company. eHealth and Medicare supplement insurance plans are not connected with or endorsed by the U.S. government or the federal Medicare program. We offer plans from a number of insurance companies.