How much does Medicare Part A cost?
- Most people don’t pay a monthly premiumA premium is an amount that an insurance policyholder must pay for coverage. Premiums are typically paid on a monthly basis. In the federal Medicare program, there are four different types of premiums. ... for Part A (“premium free”).
- If you must buy Part A, you’ll pay up to $413 per month (2017 rate).
- When admitted as an inpatient, you’ll pay a $1,316 deductibleA deductible is an amount a beneficiary must pay for their health care expenses before the health insurance policy begins to pay its share.... for each benefit period.
- There are also co-insurance costs from $0 to $658 per day.
Medicare Part A Costs in Detail
Medicare Part AMedicare Part A is hospital inpatient coverage for people with Original Medicare, whereas Part B is medical coverage for doctor visits, tests, etc.... , hospital insurance, is free (zero dollar premium) to most beneficiaries. It’s fully funded through payroll taxes while working for at least 10 years. This is also true for the spouse of someone who paid Medicare payroll taxes.
Legal U.S. residents who are not eligible for a free Part A premium may be able to purchase Part A benefits if they meet certain conditions. If they qualify to buy Part A, beneficiaries will be required to buy Medicare Part BMedicare Part B is medical coverage for people with Original Medicare. It covers doctor visits, specialists, lab tests and diagnostics, and durable medical equipment. Part A is for hospital inpatient care.... (medical insurance). There will be a monthly premium for both.
In 2017, people with 30-39 quarters of Medicare-covered employment are required to pay a premium of $227 per month. For those people who are not eligible for Part A and have fewer than 30 quarters worked, the premium is $413 per month. These amounts adjust slightly from year to year.
Beneficiaries with hospital stays in 2017 pay a deductible of $1,316 for a hospital stay of 1-60 days; $329 per day for days 61 to 90; $658 per day for days 91 through 150; and all costs for each day beyond 150 (lifetime reserve days).