Medicare Premiums and Deductibles often change from one year to the next. The same is true for other Medicare out-of-pocket costs, including:

  • Monthly premiums
  • Coinsurance and copayments for covered prescription drugs
  • Late enrollment penalties (if any apply to you)

Medicare Premiums and Deductibles for 2021

Here’s some information on Medicare deductibles in 2021.

  • Medicare Part A (hospital insurance): $1,484 for each benefit period. A benefit period starts when you’re admitted as an inpatient to a hospital or skilled nursing facility. when you haven’t had care in either of those facilities for sixty days in a row.
    You might qualify for renewed SNF coverage without having to start a new benefit period during the COVID-19 pandemic.
  • Medicare Part B (medical insurance): $203 per year
  • Medicare Part C (Medicare Advantage): The annual deductible amount may vary from one plan to another. Medicare Advantage plans are available from private, Medicare-approved insurance companies.
  • Medicare Part D (prescription drug coverage): The annual deductible amount may vary from one plan to another, but it can’t be higher than $445 per year in 2021. Medicare prescription drug plans are available from private, Medicare-approved insurance companies.
  • Medicare Advantage deductibles decreased 20% from 2018-2020 and 10% from 2020-2021, according to eHealth research.*
  • Average deductibles for stand-alone Medicare Part D prescription drug plans decreased from $405 to $400 from 2020-2021. The eHealth study included plans chosen by people using eHealth’s plan finder tool during the Fall Annual Election Period (October 15-December 7, 2020) for 2021 coverage.

Medicare premiums in 2021

Below are some information on Medicare monthly premiums in 2021.

Medicare Part A: You may or may not have to pay a premium, depending on your work and tax history.

  • If you worked at least 10 years (40 quarters) while paying Medicare taxes, you typically don’t pay a monthly Part A premium.
  • If you worked 30-39 quarters while paying Medicare taxes, you’ll need to pay $259 per month.
  • If you worked fewer than 30 quarters while paying Medicare taxes, you’ll need to pay $471 per month.

Medicare Part B: Many people pay a monthly premium for Part B. The standard Part B premium in 2021 is $148.50. If your income is above a certain amount, you could pay more. If your income is below a certain amount, you might qualify for help with your Part B premium through a Medicare Savings Program.

Medicare Part C (Medicare Advantage): Premiums vary among plans. Some Medicare Advantage plans charge as little as $0 per month for the premium. However, besides paying any premium the plan may charge, you’ll still need to keep paying your Medicare Part B premium as well.

The average monthly premium for Medicare Advantage plans

Medicare Part D (prescription drug coverage): Premiums will vary among plans.

How much Medicare will cost in 2021?

Premiums and deductibles are some of the costs you can pay under Medicare. You may also have coinsurance or copayments to pay for most covered services. Read about out-of-pocket costs under Medicare Part A and Part B.

Can a Medicare Supplement insurance plan pay some of your Medicare out-of-pocket costs?

Do you know that Medicare Supplement insurance can help pay your Medicare Part A and Part B out-of-pocket costs? There are up to 10 Medicare Supplement insurance plans in many of the states. , but all of them may cover your inpatient hospital costs for up to a year after your Medicare benefits run out. Learn more about Medicare Supplement insurance.

As shown in the chart above, the average Medicare Supplement insurance plan premium has gone up in the past few years. Premiums vary by plan.