MA Open Enrollment is open — 49 days left

Premium

The monthly amount you pay for Medicare or a private Medicare plan.
Reviewed by Aaron Sims, Licensed Life & Health Agent since 2012

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.

Explore more Medicare terms

Browse our full glossary to understand all the terminology you'll encounter when signing up for Medicare.

View full glossary