ABCs of Medicare

2023 cost at a glance
Part A premium	Most people don’t pay a monthly premium for Part A (sometimes called “premium-free Part A”). If you buy Part A, you’ll pay up to $506 each month. If you paid Medicare taxes for less than 30 quarters, the standard Part A premium is $506. If you paid Medicare taxes for 30-39 quarters, the standard Part A premium is $278.
Part A hospital inpatient deductible and coinsurance	You pay: $1,600 deductible for each benefit period Days 1-60: $0 coinsurance for each benefit period Days 61-90: $400;coinsurance per day of each benefit period Days 91 and beyond: $800;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 $164.90. Your Part B premium may be higher based upon your modified adjusted gross income. Your premium is either withheld from your monthly social security payment or paid by you directly to Medicare.
Part B deductible and coinsurance	$226 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 (DME) Part B Excess Charges – You may need to pay 15% more than the approved amount for doctors that do not accept Medicare as payment in full Home Health Care – 100% of Medicare Approved Services
Part C	Medicare Part C or Medicare Advantage plans are health plans offered by private insurance companies approved by Medicare. If you join a Medicare Advantage Plan, the plan provides all your Part A (Hospital Insurance) and Part B (Medical Insurance) coverage. Most Medicare Advantage Plans offer Part D drug coverage and may offer extra coverage, such as vision, hearing, dental, and/or health and wellness programs. Medicare Advantage Plans must follow rules set by Medicare. However, each plan can charge different out-of-pocket costs and have different rules for how you get services (such as whether you need a referral to see a specialist or if you have to go to only doctors, facilities, or suppliers that belong to the plan). Most Plans are structured as HMO’s; however, there are also PPO’s, private fee for services plans, and several Special Needs Plans available. Most Medicare Advantage plans are $0 premiums or very low premiums, depending on where you live.
Part D premium	The Part D monthly premium varies by plan (higher-income consumers may pay more). Your premium is withheld from your monthly social security check or paid by you directly to the insurance company.
Medicare Supplements	Medicare Supplement plans are designed to pay the deductibles and copayments of Medicare Parts A & B. In California, there are 10 plans (A through N) available for purchase. These plans are offered by participating insurance companies.