How much is Medicare per month?

[Digger1000]

I'm 59 and retired 8 years. My premium with ACA is $0. How much is the average premium for Medicare? I know nothing about medicare other than there are a bunch of letters.

 

[jebmke]

Depends on your income. There is a graduated upcharge onto the base premium as one's MAGI increases. The upcharge is structured in brackets.

Then there is the whole question of supplemental insurance as well as additional insurance for medication.

 

[MichaelB]

Medicare Part A is paid from payroll taxes. Medicare B costs $185 per month. That covers 80% of your eligible health care expenses. If you want additional coverage for the other 20% you need a Medicare Supplemental Policy. The cost of that policy varies around the country and depends on the coverage you choose, but a range might be between $50 to $250 per month.

The Medicare B premium is means tested, so it will cost more if your income is higher.

 

[Digger1000]

Medicare Part A is paid from payroll taxes. Medicare B costs $185 per month. That covers 80% of your eligible health care expenses. If you want additional coverage for the other 20% you need a Medicare Supplemental Policy. The cost of that policy varies around the country and depends on the coverage you choose, but a range might be between $50 to $250 per month.

The Medicare B premium is means tested, so it will cost more if your income is higher.

So no premium for part A correct?

I found a chart showing below 103k income is the $185 premium it looks like.

 

[imjustawarrior]

Digger1000,

I am younger than you, but I am planning on $500-1000/mo for medicare, supplemental coverage, and out of pocket expenses for medical/dental/vision. This is based on speaking with several retired people in my neighborhood.

 

[N02L84ER]

No premium for part A as long as you have earned enough credits. 10 years worth, I think.

 

[GrayHare]

the keyword you need to search for info is IRMAA

 

[MichaelB]

So no premium for part A correct?

I found a chart showing below 103k income is the $185 premium it looks like.

They use ”Modified Adjusted Gross Income from your tax return of 2;years prior. The levels change every year, so the current (2025) IRMAA uses 2023 income and the clip levels can be found here 2025 Medicare Parts A & B Premiums and Deductibles | CMS

 

[jebmke]

So no premium for part A correct?

I found a chart showing below 103k income is the $185 premium it looks like.

That is the Premium for Part B. Supplemental and Prescription coverage is privately issued and the cost depends on the type of coverage you select, the provider and most importantly the state you live in (insurance is regulated by the states).

 

[Gallaher]

I turned 65 eleven days ago. I am no genius and still Medicare was/is very confusing.
Yes, 10 years credit for part A =$0 charge.
Part B cost me $185. Month
Got a free part D…I take no meds, no health issues.
My part G gap is free.
My total is $185 month
ACA was $25 month.

Later this year my ever loving spouse leaves ACA so no need to pretend my income is lower than it is.
I suspect my Medicare cost will go up significantly in the future.

Good luck to everyone with this stuff

 

[Jerry1]

the keyword you need to search for info is IRMAA

IRMAA is something all should be aware of but I doubt it impacts a person whose current ACA premium is zero.

 

[stepford]

IRMAA is something all should be aware of but I doubt it impacts a person whose current ACA premium is zero.

It sure can when RMDs kick in, though depending on one's Roth conversion strategy IRMAA can be nothing until 73 then high or moderate from 65 on.

 

[mistermike40]

I just enrolled in Medicare last month. For me, it's $185 for Parts A&B, and ~$138 for Plan G (supplemental). Part of Megacorp's retirement package is a stipend that pays these premiums. I think my deductible/max out-of-pocket is $240 per year.

 

[target2019]

Monthly premiums:
Plan G $230
Part B $185
Part D $47

Call it $450.

 

[audreyh1]

IRMAA is something all should be aware of but I doubt it impacts a person whose current ACA premium is zero.

Exactly!

 

[Dtail]

Medigap Plan G $220
Medicare Part B $185
Dental $47
Part D $22
Total $473
My ACA for 7 years ranged from 67 to 286.
Still I have no issues with the upcoming Medicare costs, as perhaps ACA subsidies could be an issue in the future.

 

[N02L84ER]

This is my first year on Medicare
Monthly premiums:
Part B $185
Part D $0
Plan G-HD $37.07
Total $222.07

 

[Koolau]

This is my first year on Medicare
Monthly premiums:
Part B $185
Part D $0
Plan G-HD $37.07
Total $222.07

Very similar here. Seems a bargain - but don't tell anyone I said so.

 

[PaunchyPirate]

I'm 59 and retired 8 years. My premium with ACA is $0. How much is the average premium for Medicare? I know nothing about medicare other than there are a bunch of letters.

Since you say you know nothing about Medicare, you probably should note that all the above responses so far are ignoring the Medicare Advantage route. Most of us on this forum use or plan to use what is called Traditional Medicare + a Medigap Supplement + a Part D Prescription Plan. That is what is being discussed above.

However, the government also created Medicare Advantage (also known as Medicare Part C). This is an alternative to the Traditional Medicare approach describe above. These plans are administered by private insurance companies. They are required to cover the same exact things that traditional Medicare covers. But they can do it in different ways. They typically are modeled more like your employer-provided insurance plans was. You pay a monthly premium, co-pays, co-insurance. You have deductibles. You have a max out-of-pocket. etc. These plans often bundle the Prescription plan into the offering. All for one monthly premium. Sometimes, this premium is $0 per month, but might have a higher deductible or higher max out-of-pocket. You are still required to also pay the Part B premium of traditional Medicare. But some insurance companies reimburse you for some or all of it as part of their plans' feature set.

You can pick either of these 2 approaches when it's time.

I won't go into the pros and cons of either of these. But pros and cons do exist. You should investigate them both and pick the one that is best for you.

 

[RetiredHappy]

I turned 65 eleven days ago. I am no genius and still Medicare was/is very confusing.
Yes, 10 years credit for part A =$0 charge.
Part B cost me $185. Month
Got a free part D…I take no meds, no health issues.
My part G gap is free.
My total is $185 month
ACA was $25 month.

Later this year my ever loving spouse leaves ACA so no need to pretend my income is lower than it is.
I suspect my Medicare cost will go up significantly in the future.

Good luck to everyone with this stuff

How did you end up with a free Part G gap?

 

[pb4uski]

I'm 59 and retired 8 years. My premium with ACA is $0. How much is the average premium for Medicare? I know nothing about medicare other than there are a bunch of letters.

Our current costs:

• Part A: $0
• Part B: $185
• Part D: $0
• Medigap Plan G: $99 (average or two, mine is a little more and DW is a little less)

So for a year our premiums are $3,408 per person. While at first blush that seems like a lot, our total deductible for 2025 is the Part B deductible of $257 a year. So for medical, our maximum out of pocket for a year is $3,665.

The 2025 premiums for the catastrophic ACA plan that we were on before we turned 65 would be $4,638 a year and a $9,200 deductible.

Even if we had managed our income to qualify for a $0 premium bronze plan the deductible would be $9,200.

While some years we had no medical costs and other years we had some, I prefer the certainty of Medicare vs the uncertainty of ACA.

 

[pb4uski]

Since you say you know nothing about Medicare, you probably should note that all the above responses so far are ignoring the Medicare Advantage route. Most of us on this forum use or plan to use what is called Traditional Medicare + a Medigap Supplement + a Part D Prescription Plan. That is what is being discussed above.

However, the government also created Medicare Advantage (also known as Medicare Part C). This is an alternative to the Traditional Medicare approach describe above. These plans are administered by private insurance companies. ...

Good synopsis. The only things that I would add is that in most, but not all cases, Medicare Advantage are managed care plans that you might be familiar with where your PCP is point and all specialist visits require are referral. OTOH, traditional Medicare with a Medigap plan is not managed care and you can go and see any provider who will see you (though some specialists might require a referral). Many MA plans include some dental and vision coverage. Also, some MA plans may have geographis coverage limitations for those who snowbird or travel a lot.

 

[G-Man]

Our current costs:

• Part A: $0
• Part B: $185
• Part D: $0
• Medigap Plan G: $99 (average or two, mine is a little more and DW is a little less)

So for a year our premiums are $3,408 per person. While at first blush that seems like a lot, our total deductible for 2025 is the Part B deductible of $257 a year. So for medical, our maximum out of pocket for a year is $3,665.

The 2025 premiums for the catastrophic ACA plan that we were on before we turned 65 would be $4,638 a year and a $9,200 deductible.

Even if we had managed our income to qualify for a $0 premium bronze plan the deductible would be $9,200.

While some years we had no medical costs and other years we had some, I prefer the certainty of Medicare vs the uncertainty of ACA.

Just curious. What Part D (Drug Plan) cost you $0? That is a deal. How's the plan working out? Any issues?

 

[Gallaher]

How did you end up with a free Part G gap?

My bad, my G HD is $37 month.

 

[rk911]

Medicare Part A is paid from payroll taxes. Medicare B costs $185 per month. That covers 80% of your eligible health care expenses. If you want additional coverage for the other 20% you need a Medicare Supplemental Policy. The cost of that policy varies around the country and depends on the coverage you choose, but a range might be between $50 to $250 per month.

The Medicare B premium is means tested, so it will cost more if your income is higher.

And the good news is that all of the "letter" supplements are identical in what they cover and to what extent. They differ only in the monthly premium.