How Much Does Medicare Cost At Age 65?

The ultimate question is — How much does Medicare cost at age 65?

As we age, we get more prone to illnesses. That’s why planning for healthcare expenses is very important. However, it’s not an easy task. To know how much does Medicare cost at age 65, just read on this short but helpful blog. At Health Plans In Oregon, one of our aim is to make Medicare simple.

The simple answer: How Much Does Medicare Cost At Age 65?

Most people get Medicare Part A (Hospital Insurance) for free. Your Medicare benefits are based on you or your spouse’s work history. Contact Health Plans In Oregon (503-998-6169) so you can verify your exact benefits, but below is a general info on how much does Medicare cost at age 65.

For Part A, each month (in 2018) you will pay:

  • Nothing if you or your spouse worked and paid Medicare taxes for 10 years or more in the U.S.
  • $227 if you or your spouse worked and paid Medicare taxes between 7.5 and 10 years in the U.S.
  • $413 if you or your spouse worked and paid Medicare taxes for fewer than 7.5 years in the U.S.

(Learn more about Part A.)

For Part B, each month (in 2018) you will pay:

  • A $134 premium each month if your annual income is below $85,000 ($170,000 for couples).
  • People with high incomes have a higher Part B premium.

(Learn more about Part B.)

How Much Does Medicare Cost At Age 65?

Note: How much you will pay for services each month depends on which services you receive and whether you go to a doctor who accepts the Medicare-approved amount as payment in full (accepts assignment).

For part D, prescription drug plan, generally cost around $35/month.

Once you enroll on Medicare Part A and Part B, you have 3 options to take which determines how much your entire Medicare will cost you.

Options are:

  1. Part A + Part B + Part D
  2. Part A + Part B + Part C
  3. Part A + Part B + Part D + Medicare Supplement

Which of these 3 choices fits your budget and needs? At Health Plans In Oregon, our goal is to make sure you have all the information you need about Medicare insurance options. We make the complex and hard to understand policies, simple and easy, giving you peace of mind. If you have any questions at all we can help you. Just reach out to us at 503-998-6169 or info@healthplansinoregon.com.

If you would like free assistance deciding what coverage is right for you, Health Plans In Oregon can definitely help.

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