Medicare Cost

How much you pay to Social Security for your Original Medicare coverage depends on two things:

1. How long you have worked and pay Medicare Tax.
2. Your income.

Find detail information about premiums at cms.gov (scroll down to the Premium section).

MEDICARE PART A (HOSPITAL)

In general, if you have worked in USA for at least 10 years and paying Medicare tax, you qualify for Medicare Part A at no cost for life.  Otherwise, you have to pay for Part A and the cost depends on how many years you have worked. 

MEDICARE PART B (MEDICAL)

Part B premiums depends on your income.  Go to Social Security Website for detail of current premium cost.   For example, in 2023 individuals with income greater than $91,000 and married couples with income greater than $182,000 have to pay a higher premium.  These individuals get an income-related monthly adjustment amounts (IRMAA).  On the other hand, individuals with low income (income varies by state) might be able to get their residence State pay (subsidize) their Medicare premium.  The payment is not automatic (You must apply).  You usually apply at the department of Human Services for the county where you live.

MEDICARE PART D (PRESCRIPTION DRUGS)

If you sign up for Medicare Part D (only available from a Private insurance company), in addition to the policy premium you also pay IRMAA.  The amount you pay depends on your income.

So, what is the premium for Medicare Part B?

The Part B premium is adjusted by the Federal Government almost every year.  For current premium go to Social Security Website.   For most individuals without IRMAA, for 2023 it is $164.90 per month.  The amount is automatically collected from your Social Security check (if you are receiving Social Security).  Otherwise, it must be paid directly to Social Security and it is usually collected quarterly.

See Social Security information of Medicare premiums and IRMAA amounts at ssa.gov.