What does Medicare Cost?
How much does Part A cost?
Premium-free Part A
You usually don't pay a monthly premium for Medicare Part A (Hospital Insurance) coverage if you or your spouse paid Medicare taxes for a certain amount of time while working. This is sometimes called "premium-free Part A."
Most people get premium-free Part A.
You can get premium-free Part A at 65 if:
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You already get retirement benefits from Social Security or the Railroad Retirement Board.
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You're eligible to get Social Security or Railroad benefits but haven't filed for them yet.
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You or your spouse had Medicare-covered government employment.
If you're under 65, you can get premium-free Part A if:
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You got Social Security or Railroad Retirement Board disability benefits for 24 months.
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You have End-Stage Renal Disease (ESRD) and meet certain requirements.
How much does Part B cost?
Part B Premiums
You pay a premium each month for Part B.
Your Part B premium will be automatically deducted from your benefit payment if you get benefits from one of these:
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Social Security
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Railroad Retirement Board
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Office of Personnel Management
If you don’t get these benefit payments, you’ll get a bill.
Most people will pay the standard premium amount. If your modified adjusted gross income is above a certain amount, you may pay an Income Related Monthly Adjustment Amount (IRMAA). Medicare uses the modified adjusted gross income reported on your IRS tax return from 2 years ago.
This is the most recent tax return information provided to Social Security by the IRS. The standard Part B premium amount in 2020 is $144.60. Most people pay the standard Part B premium amount. If your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount, you'll pay the standard premium amount and an Income Related Monthly Adjustment Amount (IRMAA). IRMAA is an extra charge added to your premium.
