How much Medicare will pay for a COVID-19 lab test ranges from about $36 or $143. It depends on the type of test, region and company. There is no charge to the consumer for the test for the coronavirus SARS-CoV-2 under Medicare. See this fact sheet from CMS, Jan. 25, 2021 to find payment rates to the Medicare Administrative Contractors. Seventeen CPT codes are listed; additional rates for HCPCS codes U0003, U0004, and U0005 are linked to another document. The prices on the sheet do not include any specimen collection costs or additional services.