In general, Medicare Parts A&B pay 80% coinsurance of your hospital & medical bills. You’ll pay the remaining 20% coinsurance of the bills plus deductibles and copays which vary depending on the Medicare-approved service.
Most people choose to add a Medicare Supplement Plan (Medigap) to help pay for ALL or MOST of their out-of-pocket costs for Medicare-approved services.
If you choose to “REPLACE” Original Medicare A&B with "alternative coverage" called an Advantage Plan, then you must follow the insurance company-specific Advantage Plan's out-of-pocket cost structure.
2023 Medicare Parts A & B Costs at a Glance
Part A Premium
- Most people don’t pay a monthly premium for Part A
- (sometimes called “premium-free Part A”)
Part A Deductible
$1,600 deductible for each benefit period
Part A Coinsurance
- 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
- (maybe higher depending on your income)
Part B Deductible
$226 annual deductible
Part B Coinsurance
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)
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