Costs of Medicare
Medicare is not free. Anyone with Medicare will pay for a portion of their coverage, but what you pay will depend on the type of coverage that you have.
Some of the costs of Medicare include:
- Premiums: This is the amount you pay each month for Part B, your Medicare Advantage plan, Part D, and/or Medigap. (Some people who do not have a work history may also have to pay a premium for Part A.)
- Deductibles: This is the amount that you must spend before Medicare pays for your insurance benefit. For example, if you had a hospital stay covered under Part A in 2014, you would have to pay $1,216 before Medicare kicks in.
- Copayments/Coinsurance: You may have to pay a portion of the costs of a covered drug or service. This is called a copayment or coinsurance, and is sometimes called cost-sharing.
Learn more about the specific costs of Medicare:
- Part A and B costs (Original Medicare)
- Medicare Advantage (Part C)
- Part D
- Medigap/supplemental insurance
If you have trouble paying your Medicare costs, there are some programs that may be able to help. Learn more.
Aon Hewitt Navigators® is a Medicare insurance brokerage service recommended by NCOA because it meets rigorous Standards of Excellence established by NCOA. You may be eligible for personal one-on-one assistance in selecting and enrolling in health coverage. All of the services are provided at no cost to consumers. Check to see if you are eligible.
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