Generally, you pay a monthly premium for Medicare coverage and part of the costs each time you get a covered service. There’s no yearly limit on what you pay out-of-pocket, unless you have supplemental coverage, like a Medicare Supplement Insurance (Medigap) policy, or you join a Medicare Advantage Plan.
Costs for Part A (Hospital Insurance)
What you pay in 2023:
PREMIUM:
$0 for most people (because they paid Medicare taxes long enough while working – generally at least 10 years). This is sometimes called “premium-free Part A.”
If you don’t qualify for a premium-free Part A, you might be able to buy it. In 2023, the premium is either $278 or $506 each month, depending on how long you or your spouse worked and paid Medicare taxes.
- You also have to sign up for Part B to buy Part A.
- If you don’t buy Part A when you’re first eligible for Medicare (usually when you turn 65), you might pay a penalty.
Deductible