Part A hospital inpatient deductible and coinsurance
- $1,340 deductible for each benefit period (there could be more than 1 per year)
- Days 1-60: $0 coinsurance for each benefit period
- Days 61-90: $335 coinsurance per day of each benefit period
- Days 91 and beyond: $670 coinsurance per each “lifetime reserve day” after day 90 for each benefit period (up to 60 days over your lifetime)
- Beyond lifetime reserve days: all costs
Part B premium
- The standard Part B premium amount is $134 (or higher depending on your income). However, some people already receiving benefits have been “grandfathered in” to lower premiums.
- Those already on Medicare may be paying less due to low Cost of Living Increases in recent years
- (Congress by law is not permitted to increase the Part B premium more than the percentage increase in the yearly Social Security COLA for current Social Security recipients).
Part B deductible and coinsurance
- $183 per year. After your deductible is met, you typically pay 20% of the Medicare-approved amount for most doctor services (including most doctor services while you’re a hospital inpatient), outpatient therapy, and durable medical equipment.
Part B Covers
- Doctor visits, ambulatory services, ambulatory surgery centers, X-rays, Lab work, DME, and Urgent care.
- Late Enrollment Penalty (LEP)
- A 10% of the premium on a period of 12 months will be applied to the Part B Premium for each year that the person delay his or her enrollment.
- There is a separate Late Enrollment Penalty for not electing Part D
- Those in higher income brackets will pay higher premiums for part B through Social Security deductions.