What You'll Pay for Medicare in 2021

Look for modest increases in premiums and out-of-pocket costs.

- By Catherine Siskos

The New Year will usher in a host of adjustments to Medicare that both new enrollees and existing beneficiaries will need to navigate. In order to get the most from your plan, it’s important to understand your out-of-pocket costs, which will vary depending on your income and the type of plan you choose. Here’s a rundown of what you can expect in 2021.

Medicare Part B. Although Part A, which pays for hospital care, is free for most beneficiaries, you’ll pay a monthly premium for Part B, which covers doctor visits and outpatient services. In 2021, the standard monthly premium is projected to be $148.50, up from $144.60 in 2020.