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Premium

The monthly amount you pay for Medicare or a private Medicare plan.
Aaron Sims
Reviewed byAaron Sims

Medicare Term

Definition

The monthly amount you pay for Medicare or a private Medicare plan.

A premium is the monthly fee you pay to maintain your Medicare coverage. Most people don't pay a Part A premium if they or their spouse paid Medicare taxes for at least 40 quarters. The standard Part B premium is set annually by CMS. Medicare Advantage and Part D plans may have their own additional premiums.

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