What Will Medicare Cost You in 2021?

Advertisement

BEGIN ARTICLE PREVIEW:

Of the various expenses you’ll face during retirement, healthcare will likely be a big one. It’s important to understand what your Medicare costs will look like so you can accurately work them into your budget. Since Medicare changes from year to year, here’s what to expect out of Parts A and B in 2021.
Medicare Part A
Medicare Part A covers hospital and skilled nursing care. Most enrollees don’t pay a premium for it. However, you’ll still face other costs under Part A:

A $1,484 deductible for each hospital stay per benefit period (a benefit period begins the day you’re admitted to a hospital or skilled nursing facility and ends when you’ve been out for 60 days in a row)
$371 per day in coinsurance for days 61-90 of a hospital visit (days 1-60 do not incur a coinsurance charge)
$742 per day in coinsurance for days 91 and beyond in a single hospital stay, which come out of your 60-day pool of lifetime reserve days
$185.50 per day in coinsurance for days 21 through 100 of care in a skilled nursing facility (days 1-20 do not incur a coinsurance charge)

Keep in mind that if you manage to exhaust your lifetime reserve days for a hospital stay, you’ll …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE