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How Much Will Medicare Cost in 2019?

For about two-thirds of Medicare beneficiaries, the answer will be that Part A (hospital) will cost nothing, and part B (doctor and other services) will cost $135.50 per month, or $1,626 per year.

For the roughly one-third of beneficiaries who are enrolled in Medicare Advantage plans, the cost will be whatever premium the plan charges, which in some cases may be zero.

Comparing average annual premiums can give you some insight on what you will be paying in the upcoming year based on your insurance needs.

What’s the Range of Medicare Advantage Costs?

Depending on factors like service area, number of people covered, services provided, and providers in its network, the cost of Medicare Advantage plans range from nothing to the high 300s per month. While all plans have to meet minimum federal standards, they have far more flexibility than Original Medicare in what services they offer and what beneficiaries have to pay in co-payments and deductibles. For complete information on what is available in your area, contact the experts at Medicare Insurance Facts.

What About the People Who Have to Pay for Medicare Part A?

A small population of people who did not work the full forty quarters required for Part A Medicare are still able to buy it. The cost varies by the number of quarters worked but range from $375.50 to $572.50 per month in 2019. Those who buy Part A under these provisions are required to purchase Part B, which is $135.50 per month in 2019, so the total annual cost will range from $4,506 to $6,870 annually.

If I Have to Pay for Parts A and B, can I get Part C (Medicare Advantage)?

Anyone who has parts A and B, including those who pay for Part A, are eligible for Part C. The premiums for Medicare Advantage plans, as noted above, range from zero to the high 300s.

What About Prescription Drugs (Part D)?

Part D covers prescription drugs, which Original Medicare does not cover except in very limited circumstances. The average premium for part D in 2018 was $34, although, again, costs vary widely depending on service area, what is covered, and cost-sharing.

What’s the Bottom Line?

For Original Medicare, the cost can be only the part B premium, which is $135.50 per month, or $1,626 per year. If you add Part D, the average will be $169.50 per month, or $2,034 per year. After that, particularly if you choose Part C (Medicare Advantage) over Original Medicare, premiums, and therefore total costs, will vary widely. Your best bet is to consult the professional insurance agents at at (877) 829-1109. They can advise you on the plans available and help you to select a plan that is both affordable and covers your individual needs.