Medicare Part Ais free for most people. If you're 65 or over and eligible for Social Security, Railroad Retirement or civil service retirement, or dependents or survivors benefits, you're also eligible for Medicare Part A without paying any premium. If you're under 65 and have received Social Security disability benefits for 24 months, you're also eligible for free Part A coverage. If you aren't eligible for free Part A coverage, you can buy it for a monthly premium. With 30 to 39 Social Security or civil service work credits, you'd pay $233 a month; if you have fewer than 30 work credits, Part A costs you $423 a month. You can find out how many credits you have by checking the annual earnings record Social Security sends you or by going online at the Social Security website[ssa.gov].
For Medicare Part B, everyone pays a monthly premium (which goes up each January 1). Most people pay $96.40 per month. If you're eligible for Medicaid benefits, Medicaid pays this Medicare Part B premium for you. Single people (or married filing a separate tax return) with an adjusted gross income over $82,000 per year pay higher premiums, as do couples whose combined gross income exceeds $164,000. Those premiums are:
- income up to $102,000/$204,000 (single/couple), monthly premium of $122.20 per person
- income over those amounts and up to $153,000/$306,000 (single/couple), monthly premium of $160.90 per person
- income ver those amounts and up to $205,000/$410,000 (single/couple), monthly premium of $199.70 per person
- income over $205,000/$410,000 (single/couple), monthly premium of $238.40 per person.
For more details, go to the Medicare web site[medicare.gov].
Medicare Part D is the Medicare-regulated prescription drug program. Part D drug plans are sold by private insurance companies and cost between about $10 and $50 per month, depending on the coverage and the insurance company selling the plan.
Editor's Note: The dollar amounts noted above may have changed. For the most recent information, please check Medicare.gov[medicare.gov].