What is the cost of Medicare?

The cost of Medicare varies depending on various factors such as the specific coverage you choose and your income. Generally, Medicare Part A, which covers hospital services, is premium-free for most beneficiaries as long as they have worked for at least 10 years. Medicare Part B, which covers medical services, has a standard monthly premium cost. For most beneficiaries in 2021, the standard Part B premium is $148.50. However, this premium amount may be higher for individuals with higher incomes. Additionally, there may be deductibles, copayments, and coinsurance associated with different Medicare services. To get a clearer estimate of Medicare costs personalized to your circumstances, it is recommended to visit the official Medicare website or contact Medicare directly.