What Medicare A and B Cost
What Medicare A and B Cost in 2023
Here is what Medicare A and B Cost in 2023 and what it will cost in 2024. or your spouse has worked for 40 or more quarters and paid Medicare taxes, there is no charge for Medicare Part A coverage. If not, check this page on Medicare.gov for more information on what Medicare A and B cost.
The Costs for Medicare Part A in 2023 are shown below:
- Most people don’t pay for Medicare Part A. That is because if you or your spouse worked for 10 years or more, you will have paid enough into Social Security.
- Deductible. When you are hospitalized, you will have to pay a set amount of $1,600 before Part A covers. That is for each benefit period in a year.
- Hospital stay: For days 1-60, “0” copay. Days 61-90, $400/day of hospitalization.
- Daily Charge: Days 91-150, $800/day during which you use your 60 Lifetime Reserve Days. After day 150, you are responsible for all costs.
- Skilled nursing facility daily coinsurance for days 21-100 is $200/day.
In 2024 Medicare Part A will cost
- If you are hospitalized, you will have to pay a deductible of $1,632.00 before Part A covers. That amount repeats for each 60 days benefit period in a year.
- The coinsurance amount per day of hospitalization is $408 for day 61 through 90th day. The lifetime reserve days cost is $816 per day for lifetime reserve days.
- If you are in a skilled nursing facility, the daily coinsurance for days 21 through 100 will be $204.00.
For Medicare Part B in 2023 they are:
- The standard premium for Medicare Part B is $164.90/month.
- However, not everyone pays this amount. That is because lower income beneficiaries may qualify for financial assistance from Medicaid.
- Also, higher income beneficiaries will have an Income Related Monthly Adjustment. The higher amount is shown in this CMS article and table.
In 2024, Medicare Part B will cost:
- The standard premium for Medicare Part B will be $174.90/month
- This is the IRMA chart for higher income beneficiaries is shown in this.
Do you have questions about Medicare A and B Costs?
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