Q:

What are the approximate costs of Medicare?

A:

Quick Answer

As of 2015, most people who paid Medicare taxes while working pay nothing for Medicare Part A, which is hospital insurance. For Medicare Part B, which covers doctor and medical costs, most people pay a monthly premium of $104.90. The annual Part B deductible is $147.

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Full Answer

Individuals filing separately who had an annual income over $85,000 in 2013 and couples filing jointly who had an annual income above $170,000 pay higher Part B premiums, depending on the exact income level. The monthly premiums for Medicare prescription drug plans vary by plan and income level, as do the annual deductible and the prices the individual pays out of pocket for specific medications.

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