2019 Medicare Costs

2019 Medicare Costs

Unlike low-income health insurance that has no out-of-pocket expenses like Medicaid, most types of Medicare come with associated costs like coinsurances, copays, and other expenses. Medicare Part B and other types of Medicare will also charge what is known as a Medicare premium that is based on your income.  

2019 Medicare Costs for Part B

Medicare Part B covers doctor visits, lab tests, medical products, and associated costs, and this carries a monthly premium. In 2019 for the state of New Jersey, the average monthly premium is $135.50. This amount fluctuates depending on your income, but they look back at your income from two years ago.  Below is a chart with a breakdown of the Medicare Part B premium tiers.

If you have a low income the state of New Jersey may be able to help pay your Medicare premium.

Medicare Part B monthly premium surcharge based on income

Medicare Part B has an annual deductible of $185.  After that is reached Medicare pays 80% and you are responsible for 20% coinsurance.

What Are Associated Costs for Medicare Part A?

There are 2019 Medicare costs for both Part A and B Medicare plans, even though Part A typically does not charge a monthly premium. Associated costs for Medicare Part A are as follows for 2019:

  • No monthly premium ($437 is the monthly premium if you or your spouse did not work for 10 years)
  • $1,354 deductible for a hospital stay
  • $0 for the first 60 days of a benefit period
  • $341 per day for days 61 through 90
  • $0 for the first 20 days of a skilled nursing facility (SNF) stay
  • $170.50 per day for days 21-100 for an SNF stay
  • All costs past day 100 of an SNF stay

2019 Medicare Costs for Part D

If you enroll in Medicare Part D for prescription drugs, the average monthly premium is $33. This varies based on the particular Part D plan you enroll in. If you have a high income (same income brackets as Part B high income surcharge) you will have to pay a higher monthly premium for the drug plan plan you choose.  This monthly fee is added onto your Part D premium but is billed by Medicare (CMS) directly. For more information on costs on Part D check out our Part D page.

Medicare part D premium surcharge chart based on income

Speak with New Jersey Medicare Brokers today to discuss your options.

Not connected with or endorsed by the United States government or the federal Medicare program.