Overview of Medicare Premiums in 2018

Medicare is a government-funded health insurance program designed for those over 65, individuals under 65 with end-stage renal disease, or younger people receiving Social Security Disability Insurance temporarily.

Once eligible, enrollment occurs during open registration, offering either the Original Medicare system or a private Medicare Advantage Plan. The Original plan is a government-specified fee-for-service scheme, whereas the Advantage Plan is provided by contracted private insurers.

Medicare consists of four parts: A, B, C, and D, each with different costs. Comparing these options helps in selecting the most suitable plan.

Medicare Premiums in 2018

Part A: Many do not pay a premium if they qualify. Those who do are charged $422 monthly unless they have 30–39 quarters of Medicare taxes, in which case the premium drops to $232.

Part A includes hospitalization costs, with a $1,340 deductible per benefit period. The first 60 days are covered without coinsurance. After 60 days, a daily coinsurance of $335 applies, increasing to $670 beyond 90 days.
Part B: The 2018 premium for Part B is $134. Income levels influence payments, with some paying less and others more. The annual deductible is $183. Afterward, beneficiaries typically pay 20% of service costs for inpatient, outpatient, and medical equipment services.

Parts C and D: Premiums vary depending on the specific plan chosen. It's essential to compare options thoroughly.

Understanding 2018 Medicare premiums—especially for Parts A and B, where costs are more transparent—is crucial before selecting a plan. For Parts C and D, detailed plan comparisons are necessary to find the best fit for individual needs.