If you’re a Medicare recipient or you’re considering a Medicare plan, you may be wondering how the new 2021 Medicare costs compare to the previous year. HealthMarkets can help break down the differences for you. Let’s take a look at what you can expect.

Medicare Part B Costs

When it comes to Medicare Part B, things are going to stay near where they were last year. Your Part B premiums will average around $148.50, and your Part B deductible will be $203.1

Medicare Part A Costs

Most people did not pay a monthly Medicare Part A premium as part of their Medicare costs. However, for those who did, average monthly Part A premiums increased to $471 in 2021.1

When it comes to your Part A hospital inpatient deductible, you’ll be paying $1,484 for each benefit period, up from $1,408 in 2020. For the first 60 days in the hospital, your insurance co-pay will remain at $0, but after that you can expect costs to increase. For days 61 to 90, daily coinsurance will be $371 per day during each benefit period. After 91 days, your coinsurance for each “lifetime reserve day” will be $742. This figure applies for up to 60 days over the course of your life, and you’ll still be responsible for all costs if you exceed your maximum number of lifetime reserve days.1

Looking for Medicare Options?

The best Medicare plan for you is dependent on your unique life situation. The HealthMarkets FitScore® can help you review your options and find a plan with Medicare costs that are right for your needs and budget.

Start comparing Medicare plans with HealthMarkets today.

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References

1. Medicare.gov. Retrieved from https://www.medicare.gov/your-medicare-costs/medicare-costs-at-a-glance. Accessed on February 4, 2021.

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