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

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