Costs

  1. Part A (Hospital)

    If you don’t enroll in Part A when you are first eligible, you may have to pay 10% more on your monthly premium for twice the number of years you could have had Part A coverage, but didn’t sign up.

  2. Part B (Doctor)

    For Medicare Part B, you’ll pay both a monthly premium and a yearly deductible. The monthly premium amount may vary depending on your specific situation.

  3. Part C (Medicare Advantage)

    With Medicare Advantage, you will pay your regular Part B premium plus another premium to the private insurer of the plan you choose. Your total costs will vary depending on whether the plan has deductibles, copayments, etc.

  4. Part D (Drugs)

    Prescription drug coverage, or Medicare Part D, is a relatively new feature of Medicare (Part D went into effect in 2006), but millions of seniors take advantage of the program to help lower their prescription drug costs.

  5. Medicare Supplement (Medigap)

    Your Medigap costs will vary depending on which plan you choose and where you live, among other factors, such as your age when you bought the plan, your current age, whether you smoke, and how many people are in the plan.

  6. Get Help with my Costs

    Depending on your level of income and assets, you may be eligible for financial assistance with Medicare costs. Your eligibility depends on your income, including money you receive from retirement benefits, stocks, bonds, etc.

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