What is my Medicare Part B premium?
For most people, the monthly premium for Medicare Part B is about $134. Those with yearly incomes above $85,000 will have to pay more – up to $460 per month for those who make more than $500,000 annually. If you are already receiving Social Security or similar benefits when you enroll in Medicare Part B, the cost of your Part B premiums will be automatically deducted from your benefit payments. Keep in mind that there are other expenses associated with Part B coverage as well. For example, there are deductibles which must be met for Part B before Medicare will start to pay its share (about 80%) of your approved medical expenses. You may also have to pay coinsurance or copayments. There are no out-of-pocket spending limits for Medicare Part B coverage.
What is Medicare Part C?