People With Medicare
Portions of Costs
What portions of Medicare costs do I have to pay?
Most people with Medicare will pay:
- Monthly fees, called premiums, and
- A set amount each year, called an annual deductible, and
- A share of the costs for each visit or service. In Original Medicare this is called coinsurance. In Medicare Advantage, it is called a copayment.
You might pay deductibles before Medicare starts paying its share of each service. The federal government sets costs for Medicare Parts A and B. The private Medicare Advantage plans set their own costs for services and prescription drugs.
NEXT: What does Medicare cost?