Usually you don’t need to pay a monthly premium for part A coverage if you’ve paid social security for the last 10 years or 40 quarters. If you have not, here are the monthly premiums (these figures represent 2019 data):
- If you’ve paid the last 30 quarters social security tax: $437/mo (max cost)
- If you’ve paid the last 31-39 the standard premium is $240
Deductible & co-insurance information: This differs based on the services being rendered
Deductible: $1,364 for each benefit period – only applies to an inpatient stay for hospital care or mental care.
- Days 1-60: $0 coinsurance for each benefit period
- Days 61-90: $341 coinsurance per day of each benefit period
- Days 91 & Beyond: $682 coinsurance per each “lifetime reserve day” after day 90 for each benefit period (up to 60 days over your lifetime)
- Beyond Lifetime Reserve Days: All costs
Home health care deductible: $0 for home health care, 20% of medicare approved amount for durable medical equipment.
Hospice deductible: $0 for hospice care.
- You may need to pay up to $5 copayment for each prescription drug and other similar pain relief medication when you’re at home.
- You may need to pay 5% of the Medicare approved amount for inpatient respite care
- Medicare doesn’t cover room and board when you get hospice care in your home or another facility where you live (like a nursing home)
Skilled Nursing Facility:
- Days 1-20: $0 for each benefit period
- Days 21-100: $170.50 coinsurance per day of each benefit
- Days 100 & Beyond: All costs