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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.

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.