Costs of Medicare

Medicare costs are divided into categories, each with its own purpose and when you pay them. These expenses include:

• Premiums – Premiums are paid monthly to keep your policy active.
• Deductibles – Deductibles are annual payments, with the exception being the deductible for Medicare Part A, which is paid per benefit period. Your coverage kicks in as soon as you cover this cost.
• Coinsurance – Coinsurance is the part of the bill you pay.
• Copayments – Copayments are what you pay for each visit.