Medicare Costs in 2019

Medicare Part A and Part B costs generally increase each year, as they did in 2019. This includes costs for Medicare deductibles, coinsurance and premiums.

Learn more about 2019 Medicare costs and how they could affect your coverage.

If you think you might be overpaying for your coverage, using a medicare plan finder is one way to find a plan that may better suit your needs.

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Medicare Part A premium

Most people do not pay a premium for Medicare Part A (hospital insurance). But those who don’t receive premium-free Part A may pay up to $437 per month, depending on how many years they have worked and paid Medicare taxes.

The 2019 Part A premium is $240 per month if you paid Medicare taxes for 30-39 business quarters, which is 7.5 years to nearly 10 years, and $437 per month if you worked fewer than 30 quarters, which is fewer than 7.5 years.

Medicare Part A deductible

The 2019 Medicare Part A deductible is $1,364 per benefit period.

You must meet the Part A deductible in each benefit period before Medicare Part A begins to pay for your inpatient care costs. A benefit period begins on the first day you are admitted for inpatient care, and it ends when you have been discharged and haven’t received inpatient care for 60 consecutive days.

You could potentially have more than one Part A benefit period in a single calendar year.

Medicare Part A coinsurance

The Part A coinsurance is the amount of money you may have to pay out-of-pocket for extended inpatient stays at hospitals and other long-term care facilities, after you reach your Part A deductible for that benefit period.

The first 60 days of an inpatient stay are covered in full for each benefit period after you hit your Part A deductible. If your inpatient hospital stay lasts longer than 60 days, you may have to pay the following Part A coinsurance costs:

  • 2019 Part A coinsurance for days 61-90: $341 per day
  • 2019 Part A coinsurance for days 91 and beyond: $682 per day for each lifetime reserve day
  • After you use all of your 60 lifetime reserve days, you are responsible for all costs

Note: your Part A coinsurance costs and Part A deductible reset with each new benefit period. As mentioned above, you could potentially face more than one Part A benefit period in a calendar year.

Medicare Part B premium

The standard monthly premium for Medicare Part B (medical insurance) is $135.50 per month.

People with higher incomes could potentially pay more for their Part B premiums. This higher amount is called the Income-Related Monthly Adjusted Amount, or IRMAA.

The following chart outlines what you might pay for your Part B premium, based on your reported income taxes from 2017.

Medicare Part B Premiums

2017 Individual tax return

2017 Joint tax return

2017 Married and separate tax return

2019 Part B premium

$85,000 or less

$170,000 or less

$85,000 or less

$135.50

More than $85,000 and up to $107,000

More than $170,000 and up to $214,000

N/A

$189.60

More than $107,000 up to $133,500

More than $214,000 up to $267,000

N/A

$270.90

More than $133,500 up to $160,000

More than $267,000 up to $320,000

N/A

$352.20

More than $160,000 up to $500,000

More than $320,000 up to $750,000

More than $85,000 up to $415,000

$433.40

More $500,000

More than $750,000

More than $415,000

$460.50

Medicare Part B deductible

The 2019 Part B deductible is $185 annually.

You must meet this deductible before your Medicare Part B coverage starts paying its share.

Medicare Part B coinsurance

After you meet your Part B deductible, you are typically responsible for paying a 20 percent coinsurance for the Medicare-approved amount for your covered services.

Part B coinsurance can be applied to covered services like doctor's office visits, outpatient therapy, durable medical equipment and other Part B-covered services.

Medicare Supplement Insurance costs in 2019

Medicare Supplement Insurance plans (also called Medigap) can help cover some of the out-of-pocket Medicare costs detailed above, such as deductibles, coinsurance and copayments.

  • In 2019, the high-deductible Medigap Plan F option has a deductible of $2,300 per year.
  • The 2019 Medigap Plan K out-of-pocket spending limit is $5,560 per year.
  • The 2019 Medigap Plan L out-of-pocket spending limit is $2,780 per year.

Medigap plans are sold by private insurance companies, and plan costs will vary from one provider to the next. Some Medigap plan costs, however, are standardized.

Medicare Supplement plans can help cover a number of 2019 Medicare costs, such as:

  • Medicare Part A coinsurance and hospital costs
  • Medicare Part B coinsurance or copayments
  • The first three pints of blood needed for a blood transfusion
  • Part A hospice care coinsurance or copayments
  • Coinsurance for skilled nursing facility care
  • Part A deductible
  • Part B deductible
  • Part B excess charges
  • Foreign emergency care costs (not typically covered by Original Medicare)

Medicare Advantage plans (Medicare Part C)

Medicare Advantage plans (Medicare Part C) provide the same basic coverage as Original Medicare (Medicare Part A and Part B).

Many Medicare Advantage plans may offer additional benefits that aren’t covered by Original Medicare, such as prescription drug coverage and dental, vision and hearing benefits. Medicare Advantage plans are sold by private insurance companies, so costs, benefits and availability can vary.

On average, Medicare Advantage plan premiums are actually decreasing in cost for 2019. The CMS has projected a 6 percent drop in the average plan premium, from $29.81 in 2018 to $28.00 in 2019.

Medicare Part D

Medicare Part D plans, which provide coverage for prescription medication, are also set to decrease in 2019. The average monthly premium for a Medicare Part D plan will drop to $32.50 in 2019 from its previous average of $33.59 in 2018.

Part D plans often include annual deductibles as well as coinsurance or copayment requirements. Some Part D plans offer $0 deductibles.

Get help paying for 2019 Medicare costs

A number of programs are available to help qualified Medicare beneficiaries pay for their Medicare costs.

One such program is called Medicare Extra Help. The Extra Help program helps qualified beneficiaries pay for their prescription drugs.

Medicare beneficiaries with limited financial resources may also qualify for 2019 Medicare Savings Programs.

Find $0 premium 2019 Medicare Advantage plans

Depending on where you live, you may be able to find Medicare Advantage plans in your area that offer $0 premiums.

To learn more and to compare plans, call to speak with a licensed insurance agent today.

 

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