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As you approach eligibility for Medicare, it’s essential to have a comprehensive understanding of the costs involved to make informed decisions about your healthcare coverage. Here’s a breakdown of the costs:

2023 Medicare Costs

Medicare Part A Premium

  • You will have premium-free Part A if you paid Medicare taxes for ten years (40 quarters). 
  • If you paid Medicare taxes for fewer than 30 quarters, your Part A monthly premium will be $506. 
  • If you paid Medicare taxes for 30-39 quarters, your Part A monthly premium will be $278.

Medicare Part A Deductible and Coinsurance

You pay:

  • $1,600 deductible for each benefit period
  • $0 coinsurance for days 1-60 during each benefit period
  • $400 daily coinsurance for days 61-90
  • $800 daily coinsurance for days 91 and beyond (lifetime reserve days)
  • All costs beyond lifetime reserve days

Medicare Part B Premium

  • The standard Part B monthly premium is $164.90. 
  • This premium could be higher depending on your income.

Medicare Part B Deductible and Coinsurance

  • Part B yearly deductible is $226.
  • After meeting your deductible, you will pay 20% of the Medicare-approved amount for the doctor services you receive.

Medicare Part C Premium

  • Part C monthly premiums will vary among plans. Most Part C plans will have little or no monthly premium.
  • You will also be responsible for your Part A and B costs.

Medicare Part D Premium and Deductible

  • Part D monthly premiums will vary among plans. The average monthly premium is $31.50.
  • Part D plans may also have a maximum deductible of $505. Some plans have no deductible.

Medicare Supplement Premium

The monthly premium you pay for Medigap will ultimately depend on the plan you choose and the insurance company.

Get Started With Medicare

Ready to gain a deeper understanding of Medicare? Delta Medicare Benefits Group is here to help. Take the first step towards making informed decisions about your Medicare costs by scheduling a consultation with us. Let’s navigate the world of Medicare expenses together and ensure you have the coverage that fits your healthcare needs and financial goals.

Schedule a FREE Consultaion

Bobby Jones

Owner & Licensed Agent

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Bobby Jones

Owner & Licensed Agent

By clicking “Next”, you agree to our Terms of Service and Privacy Policy. You also elect to receive updates, newsletters, and offers from Delta Medicare Benefits Group.

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Delta Medicare Benefits Group, Medicare Supplement, Memphis, TN

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The purpose of this website is to provide general information on Medicare, Medicare Advantage, Medicare Supplement, Medicare Part D, and other health insurance related information. At Delta Medicare Benefits Group we believe that everyone should have access to the information needed to make an informed, confident decision about their healthcare. Calling the number on this site will connect you to a licensed insurance agent.

Delta Medicare Benefits Group have researched government websites and publications in an effort to provide you with information. We believe the sources we use to provide information to be reliable. However, we do not guarantee or warrant the accuracy of this information. All materials on this site are for informational purposes only. The contents of this website are subject to change without notice. If you would like to find more information about the Government Medicare program, please visit the Official U.S. Government website for Medicare, located at medicare.gov.

Delta Medicare Benefits Group is not connected with, affiliated with, or endorsed by the United States government, the Federal Medicare program, or a state agency. Medicare has not reviewed nor endorsed this information. Products sold by our team are backed by the insurance company's guaranteed association and underwriting powers.

We are not connected with or endorsed by the United States government or the federal Medicare program. We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.
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