2021 Medicare Part A & Part B Costs Below
The Centers for Medicare & Medicaid Services (CMS) released information regarding 2021 premiums, deductibles, and coinsurance costs for Parts A & B. As a resource for iPros agents below is information sourced from CMS regarding the new figures.
Medicare Part A
In most cases, Part A does not have a monthly premium. If a beneficiary does not qualify for premium-free Part A there is an option to buy at either $259 or $471 monthly. Remember, these costs are only for those who did not qualify for premium-free Part A. The monthly premium amount will be dependent on their own or their spouse’s contribution to Medicare taxes.
Part A covers inpatient hospital care, skilled nursing, home health care, and hospice care.
Below are the figures for hospitalization costs for 2021. The inpatient deductible is $1,484. For days 61 through 90 the cost is $371 daily. Days 91 through 150 is $742 daily. After day 151 the beneficiary will incur all costs.
| Hospitalization | |
| Days 1-60 | $1,484
(deductible) |
| Days 61-90 | $371 daily |
| Days 91-150 | $742 daily |
| Days 151 plus | All costs |
For a skilled nursing facility days 1 through 20 are covered. From days 21 through 100 the daily coinsurance is $185.50. For 100 days and on in a skilled nursing facility the beneficiary will incur all costs.
| Skilled Nursing Facility | |
| Days 1-20 | $0 |
| Days 21-100 | $185.50 daily |
| 100 days plus | All costs |
Medicare Part B
Part B covers outpatient care, doctors’ services, preventive care, diagnostic tests, some therapies, and durable medical equipment.
The 2021 standard monthly premium is $148.50. The 2021 Part B annual deductible is $203. A beneficiary’s 2019 tax return will determine the premium they pay. View the table below for more information on potential premium amounts (for mobile version table is viewable here).
| Income in 2019 (Determines what you pay in 2021) | |||
| File individual tax return | File joint tax return | File Married & Separate tax return | You pay monthly |
| $88,000 or less | $176,000 or less | $88,000 or less | $148.50 |
| Above $88,000 to $138,000 | Above $176,000 up to $222,000 | N/A | $207.90 |
| Above $111,000 to $138,000 | Above $222,000 up to $276,000 | N/A | $297.00 |
| Above $138,000 to $165,000 | Above $276,000 up to $330,000 | N/A | $386.10 |
| Above $165,000 and less than $500,000 | Above $330,000 and less than $750,000 | Above 88,000 and less than $412,000 | $475.20 |
| $500,000 or above | $750,000 and above | $412,000 and above | $504.90 |
