How Much Will Medicare Cost You in 2018?
About 58 million Americans get healthcare coverage through the Medicare program. Each year, healthcare costs tend to rise, and that typically results in increases in many of the costs Medicare recipients have to pay. Specifically, Medicare sets its premiums, deductibles, coinsurance payments, and other expenses based in part on its own cost experience. Let's look at some of the changes that will take effect for Medicare in 2018.
Medicare Part A provides hospital insurance coverage for Medicare participants. Most people don't pay a premium for their Part A coverage, because you can generally get free Part A if you or your spouse worked for 40 quarters at a job that charged Medicare payroll taxes. However, if you don't qualify, then you can still get Part A coverage as long as you pay a monthly premium. In 2018, the premium for those with 30 to 39 quarters of coverage will be $232 per month, up $5 from 2017's figure. If you have fewer than 30 quarters, then the monthly premium is $422, up $9 from last year.
2018 will also see higher deductibles and coinsurance payments for hospital coverage under Part A. You can see the increases in the table below, with coinsurance amounts varying based on length of stay.
Source: Fool.com
