Do all Medicare plans have a deductible?

Medicare is divided into four parts, all of which have a deductible and premium, However, Part A and B are mandatory, Part C and D can be purchased to provide increased coverage.

There are three major 'Parts' of Medicare:

What are the various 'Parts' of Medicare

Some seniors elect to add additional coverage for things like vision and dental through a Part C or Medicare Advantage plan.

Premiums

Premiums are monthly payments paid to receive coverage for healthcare or any other type of insurance.

Part A

In regard to Medicare Part A, ninety-nine percent of Medicare members do not pay a premium for Part A. Those who purchase Part A coverage spent “up to $471 each month in 2021” and will be charged $499 in 2022 “if you paid Medicare taxes for less than 30 quarters” throughout your career.

Part B

However, most do pay one for Part B, which is subtracted from their Social Security checks. In 2021, most paid $148.50, and in 2022 will be charged $171. Those with higher incomes are required to pay more.

Deductibles

Deductibles, which also form part of each Part of Medicare, represent the amount a member must pay before their benefits kick in. Medicare groups co-insurance, or co-payments and deductibles

Unlike premiums, the deductible is for Part A is applied to all Medicare members equally.

Part A

For hospital stays, hospice care, skilled nursing facilities, and mental health inpatient stay, will require patients to pay for a certain number of days during their stay to meet the deductible. Then, once the deductible is met, Medicare will cover the remaining costs.

Part A Deductables

Source: Medicare.gov

Part B

The deductible for Part B will also increase in 2022. While in 2021, Medicare members had to pay $203, before their benefits kicked in. Next year that figure will increase by 14.7 percent to $233. 

After the deductible is met, those covered will "typically pay 20% of the Medicare-Approved Amount for most doctor services (including most doctor services while you're a hospital inpatient), outpatient therapy, and durable medical equipment (dme)."

Part C & D: Premiums and Deductibles

Part C, or Medicare Avtange Plans, allows seniors the opportunity to purchase coverage for dental, hearing, and vision services. Some Democrats had proposed expanding Medicare to include these services under the reconciliation bill, but it was stripped after facing opposition from more conservative members of the party and Republicans.

Part D legalized health insurance plans for Medicare members to help keep down the costs of prescription drugs. Medicare.gov provides an estimate of what those who purchase a Part D Plan can expect to pay for their prescription.

The costs associated with these parts depend on the plans selected.

2022 Projected Premiums for Part D

Source: Medicare.gov