Ashford Insurance

2021 Medicare Costs

Medicare Made Easy

Medicare is the federal health insurance program for:

  • People who are 65 or older
  • Certain younger people with disabilities
  • People with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD)
Original Medicare is a fee-for-service health plan that has two parts: Part A (Hospital Insurance) and Part B (Medical Insurance). After you pay a deductible, Medicare pays its share of the Medicare-approved amount, and you pay your share (coinsurance and deductibles).

How Much Will Medicare Cost?

How much is Medicare Part A? Part A is no additional charge for most people. However, your Part B and Part D will have a monthly premium.

The costs for Medicare Part B and Part D, as well as any supplemental coverage, is something that many will not anticipate. Do not be surprised when you turn 65 and learn that Medicare is not free.

Do you have to pay for Medicare? Yes, most people will pay Medicare premiums. Fortunately, it’s fairly easy to get together a Medicare cost estimate so that you can plan ahead.

Medicare Part A (Hospital Insurance) Costs

Part A monthly premium

Most people don’t pay a Part A premium because they paid Medicare taxes while working. If you don’t get premium-free Part A, you pay up to $471 each month.

Hospital stay

In 2021, you pay$1,484 deductible per benefit period

  • $0 for the first 60 days of each benefit period
  • $371 per day for days 61–90 of each benefit period
  • $742 per “lifetime reserve day” after day 90 of each benefit period (up to a maximum of 60 days over your lifetime)

Skilled Nursing Facility stay

In 2021, you pay

  • $0 for the first 20 days of each benefit period
  • $185.50 per day for days 21–100 of each benefit period
  • All costs for each day after day 100 of the benefit period

Medicare Part B (Medical Insurance) Costs

Part B monthly premium

Most people pay the standard Part B premium amount ($148.50 in 2021). Social Security will tell you the exact amount you’ll pay for Part B in 2021.

You pay the standard premium amount if:

  • You enroll in Part B for the first time in 2021.
  • You don’t get Social Security benefits.
  • You’re directly billed for your Part B premiums.
  • You have Medicare and Medicaid, and Medicaid pays your premiums.
    (Your state will pay the standard premium amount of $148.50 in 2021.)

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 Part B premium and an
income-related monthly adjustment amount.

Here’s what you’ll pay:

2021 Medicare Costs

Visit Medicare.gov/your-medicare-costs/medicare-costs-at-a-glance to find the information in this chart. If you have questions about your Part B premium, call Social Security at 1-800-772-1213. TTY users can call 1-800-325-0778. If you pay a late enrollment penalty, these amounts may be higher.

Part B deductible—$203 per year

Medicare Advantage Plans (Part C) & Medicare Drug Plans (Part D) Premiums Visit Medicare.gov/plan-compare to get plan premiums. You can also call 1-800-MEDICARE (1-800-633-4227). TTY users can call 1-877-486-2048. You can also call the plan or your State Health Insurance Assistance Program (SHIP). To get the most up-to-date SHIP phone numbers, visit https://www.shiphelp.org/about-medicare/regional-ship-location/texas or call 1-800-MEDICARE.

Part D monthly premium

The chart below shows your estimated drug plan monthly premium based
on your income. If your income is above a certain limit, you’ll pay an
income-related monthly adjustment amount in addition to your plan premium.

2021Part D

2021 Part D national base beneficiary premium — $33.06

This amount is used to estimate the Part D late enrollment penalty and the income-related monthly adjustment amounts listed in the table above. The national base beneficiary premium amount can change each year. See your Medicare & You handbook or visit Medicare.gov for more information.

Medicare Eligibility

Eligibility depends on certain criteria. Anyone who has lived in the United States legally for at least five years and is 65 or older qualifies for Medicare coverage. Enrollment in both Parts A and B is automatic for anyone who receives Social Security benefits. Part D coverage is optional and enrollment must be done by the individual.

For more information about Medicare costs, visit Medicare.gov.

Need help? Call us for an appointment at (817) 952-3153

Shanelle Reyes has been a Texas licensed insurance agent since 2008. Her specialty for several years was selling life insurance where she enjoyed helping families plan for the future.

Get In touch

(817) 952-3153

M-F 8:00 – 4:00

Weekends & Evenings by Appointment

Address 1245 Southridge Court Suite 101, Hurst, TX, 76053

* A licensed sales agent may call or e-mail as a result of completing the information to discuss Medicare Advantage, Prescription Drug Plans or Medicare Supplement Insurance.

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