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Part A

  • Hospital insurance that helps with inpatient hospital care, skilled nursing facility care (rehab only), hospice and home health care.
  • The deductible for Part A during 2018 is $1,340.
  • There is no cost for Part A if you paid Medicare taxes at least 40 quarters while working.

Part B

  • Medical insurance that helps with medically necessary doctor services and outpatient care.  Preventive services are also covered to help you maintain your health and keep illnesses from getting worse.
  • The deductible for Part B during 2017 is $183.  Medicare will pay 80% of medically necessary health care after you pay this deductible, and you will be responsible for the other 20%.
  • If you don’t sign up for Part B when you are first eligible (Initial Enrollment Period), you may have to pay a late enrollment penalty.
  • The cost for Part B is based on your income.  In 2018 the standard monthly premium for most people is $134 (see chart below). If you are not receiving your benefit, you will be billed quarterly by the SSA.

Part B premiums by income

If your yearly income in 2016 was You pay
(in 2018)
File individual tax return File joint tax return
$85,000 or less $170,000 or less $134
above $85,000 up to $107,000 above $170,000 up to $214,000 $187.50
above $107,000 up to $160,000 above $214,000 up to $320,000 $267.90
above $160,000 up to $214,000 above $320,000 up to $428,000 $348.30
above $214,000 above $428,000 $428.60