Key Medicare Out of Pocket Costs Explained

? Medicare Part A out-of-pocket costs — what you'll actually pay when you're admitted to the hospital once you're covered by Medicare. The numbers may surprise you. 

? Medicare Part B — what you'll pay each month in premiums, how your annual deductible works, how coinsurance factors in, and — critically — whether there's a cap on what you can spend in a year (spoiler: with Original Medicare alone, there isn't). 

? Medicare Part D for prescription medications — why understanding your specific drug costs requires looking at your exact medications, where you live, which tier those drugs fall on, and which plan you're enrolled in. No two situations are identical here. 

? Medicare Part C — how to analyze out-of-pocket costs under Medicare Advantage plans, including what an out-of-pocket maximum actually means and how it compares to Original Medicare. 

? Medigap — how a Medicare Supplement plan can dramatically reduce unexpected out-of-pocket exposure by adding a second layer of coverage on top of Original Medicare — and why enrolling during your open enrollment window is so important.