2018 Medicare Part A costs
Medicare Part A helps cover inpatient hospital expenses. As a Medicare beneficiary, you’re generally eligible for premium-free Medicare Part A coverage if you or your spouse paid Medicare taxes while working for 10 years or more. However, beneficiaries who do need to pay for Part A coverage in 2018 pay a premium up to $422 per month.
The Medicare Part A deductible for 2018 is $1,340 for each benefit period. A deductible is the amount you, the beneficiary, must pay out of pocket before Medicare begins covering its share of covered services.
Further, the 2018 coinsurance for hospital inpatient stays for each benefit period is as follows:
- No coinsurance for covered hospital stays 60 days or less.
- A daily $335 coinsurance for days 61 through 90 of a covered stay.
- A daily $670 coinsurance for days 91 and beyond (days 91 and beyond in each benefit period are considered part of your “lifetime reserve days”; you can have up to 60 of these days over your lifetime).
- After lifetime reserve days are used up, you pay all costs (unless you have separate insurance coverage outside of Medicare Part A that covers these costs).
The 2018 coinsurance for skilled nursing facility stays for each benefit period is the following:
- No coinsurance for 20 days or less
- A daily $167.50 coinsurance for days 21 through 100
- You are responsible for all costs for days 101 and beyond
2018 Medicare Part B costs
Medicare Part B, medical insurance, helps cover services and supplies including, but not limited to, doctor visits, lab tests, and wheelchairs.
Your Medicare Part B premium amount may vary depending on your situation. There are a few different scenarios:
- You’ll generally pay a lower amount than the Part B standard monthly premium for 2018 unless one of the conditions below fits your situation.
- You’ll generally pay the Part B standard monthly premium of $134.00 if any of the following applies to you:
- You enrolled in Part B for the first time in 2018.
- You aren’t receiving Social Security or Railroad Retirement Board benefits.
- You’re a dual eligible (meaning you get both Medicare and Medicaid benefits), and Medicaid pays for your premiums. If you qualify, your $134 premium is paid by the Medicaid program.
- You’re billed directly for your Part B premium.
Your Part B premium could be higher if your income is above a certain amount. Beneficiaries with higher modified adjusted gross incomes, as reported on their IRS tax return from two years ago, may have to pay a higher premium. See this article on Medicare premiums and deductibles for more information.
The 2018 annual deductible for Medicare Part B services is $183 per year. You’re typically also responsible for 20% of the Medicare-approved amount for most medical services, assuming that the doctor or other health-care provider accepts Medicare assignment (Medicare-approved amount as full payment).
Medicare Part B provides many preventive services at no cost to you; these services are available without requiring you to meet your deductible. There may be limits on physical therapy, occupational therapy, and speech language pathology services. If so, there may be exceptions to these limits.