How Much Is Medicare Insurance?

To understand how much Medicare insurance costs, you must first decide which kind of Medicare coverage you want — Original Medicare (Part A and Part B) or a Medicare Advantage plan (Medicare Part C).

Below, we examine the costs of both Original Medicare and Medicare Advantage to help you decide which is best for you.

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Original Medicare costs

The specific amount you pay for your Medicare benefits can vary. Below, we list some of the average prices associated with Original Medicare in 2019.

  • Medicare Part A premium
    Most people do not pay a monthly premium for Medicare Part A. If you pay for Part A, you could pay up to $437 per month.

  • Medicare Part B premium
    The standard Medicare Part B premium is $135.50 in 2019. However, this number could be higher based on your income.

  • Medicare Part A hospital inpatient deductible
    The 2019 Part A deductible is $1,364 for each benefit period.

  • Medicare Part A hospital inpatient coinsurance
    • Days 1-60: $0 coinsurance for each benefit period
    • Days 61-90: $341 coinsurance per day of each benefit period
    • Days 91 and beyond: $682 coinsurance per each lifetime reserve day after day 90 for each benefit period
    • Beyond lifetime reserve days: all costs

  • Medicare Part B deductible
    The 2019 Part B deductible is $183 per year.

  • Medicare Part B coinsurance
    After your Part B deductible is met, you’ll likely be responsible to pay 20 percent of the Medicare-approved amount for most services.

Medicare Advantage costs

Medicare Advantage plans are plans sold by private insurers as an alternative to Original. The monthly premium for Medicare Advantage (Medicare Part C) varies by plan.

The average Medicare Advantage premium for a plan that includes prescription drug coverage will be $40 per month in 2019.* You’ll pay this premium on top of your Medicare Part B premium.

By switching to a Medicare Advantage plan, your plan may include additional benefits that aren’t covered under Original Medicare, and you may be able to save some money on these services. Some of these benefits include: 

  • Prescription drug benefits
  • Vision benefits for routine services such as eye exams
  • Dental benefits, which pay for services such as cleanings
  • Health & Wellness programs to help you achieve better health and well-being

If you decide to stay with Original Medicare, you must purchase a separate, stand-alone Medicare Part D plan if you want prescription drug coverage. Additionally, you must purchase a separate dental and/or vision plan from a private insurance company.

Enroll today

At the end of the day, the right plan for you will likely come down to a few questions. How much is Medicare insurance through a specific Medicare Advantage plan? What kind of coverage will you receive? And what monthly premiums can you afford?

To learn more or to enroll in a Medicare Advantage plan, speak with one of our licensed insurance agents atTTY Users: 711.

Copyright © 2018 TZ Insurance Solutions LLC. All rights reserved.

*Kaiser Family Foundation, “Medicare Advantage 2019 Spotlight: First Look,” Published October 16, 2018. https://www.kff.org/report-section/medicare-advantage-2019-spotlight-first-look-data-note.

MedicareAdvantage.com is a website owned and operated by TZ Insurance Solutions LLC. TZ Insurance Solutions LLC and TruBridge, Inc. represent Medicare Advantage Organizations and Prescription Drug Plans having Medicare contracts; enrollment in any plan depends upon contract renewal.

Plan availability varies by region and state. For a complete list of available plans, please contact 1-800-MEDICARE (TTY users should call 1-877-486-2048), 24 hours a day/7 days a week or consult www.medicare.gov.

Medicare has neither reviewed nor endorsed this information.