MEDICARE PREMIUMS

2020 Costs at a Glance

Premium-Free Part A

You usually don't pay a monthly premium for Medicare Part A (Hospital Insurance) coverage if you or your spouse paid Medicare taxes for a certain amount of time while working. This is sometimes called "premium-free Part A."

Most people get premium-free Part A.

You can get premium-free Part A at 65 if:

  • You already get retirement benefits from Social Security or the Railroad Retirement Board.

  • You're eligible to get Social Security or Railroad benefits but haven't filed for them yet.

  • You or your spouse had Medicare-covered government employment.

If you're under 65, you can get premium-free Part A if:

  • You got Social Security or Railroad Retirement Board disability benefits for 24 months.

  • You have End-Stage Renal Disease (ESRD) and meet certain requirements.

Part A premiums

If you don't qualify for premium-free Part A, you can buy Part A.

If you paid Medicare taxes for less than 30 quarters, the standard Part A premium is $458. If you paid Medicare taxes for 30-39 quarters, the standard Part A premium is $252.

In most cases, if you choose to buy Part A, you must also:

Contact Social Security for more information about the Part A premium.

 

Part B Premium

Some people automatically get Medicare Part B (Medical Insurance), and some people need to sign up for Part B. Learn how and when you can sign up for Part B.

If you don't sign up for Part B when you're first eligible, you may have to pay a late enrollment penalty.

The standard Part B premium amount in 2020 is $144.60. Most people pay the standard Part B premium amount. If your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount, you'll pay the standard premium amount and an Income Related Monthly Adjustment Amount (IRMAA). IRMAA is an extra charge added to your premium.  

Part C Premium

The Part C monthly premium varies by plan.

 

Part D Premium

The Part D monthly premium  varies by plan (higher-income consumers may pay more). 

If you don't sign up for Part D when you're first eligible, you may have to pay a late enrollment penalty.

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©2020  by The Health Experts Insurance. Medicare has neither reviewed nor endorsed this information. 
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