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How much will Medicare cost you?

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With a traditional Medicare plan, there is no out-of-pocket maximum. That means that if you have a serious health issue, there’s no limit to what you might have to spend for your co-insurance, which is the percentage of your medical charges that are your responsibility.

Medicare Part D (remember, that’s the part for prescription medicines) does have a catastrophic threshold. That means that after you spend a certain amount out-of-pocket, its catastrophic coverage kicks in. But you’ll still pay 5% of the cost of any prescription drugs over that amount. If you take a high-priced drug, that could add up. Supplemental (Medigap) policies can help you bridge the cost gap.

From: 9 Things You Didn’t Know About Medicare WebMD Medical Reference

Reviewed by Sarah Goodell on September 16, 2019

Medically Reviewed on 9/16/2019

SOURCES:

Social Security Administration: “History of SSA During the Johnson Administration 1963-1968.”

Medicare.gov.

Tricia Neuman, senior vice president, Kaiser Family Foundation; director, Program on Medicare Policy and Project on Medicare’s Future, Kaiser Family Foundation.

Deborah Chollet, senior fellow, Mathematica Policy Research.

Steve Zuckerman, PhD, co-director and senior fellow, The Urban Institute.

Stacy Sanders, federal policy director, Medicare Rights Center.

Reviewed by Sarah Goodell on September 16, 2019

SOURCES:

Social Security Administration: “History of SSA During the Johnson Administration 1963-1968.”

Medicare.gov.

Tricia Neuman, senior vice president, Kaiser Family Foundation; director, Program on Medicare Policy and Project on Medicare’s Future, Kaiser Family Foundation.

Deborah Chollet, senior fellow, Mathematica Policy Research.

Steve Zuckerman, PhD, co-director and senior fellow, The Urban Institute.

Stacy Sanders, federal policy director, Medicare Rights Center.

Reviewed by Sarah Goodell on September 16, 2019

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