On November 8, 2019, the Centers for Medicare & Medicaid Services (CMS) released the 2020 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs….
Part B 2019 and 2020 Comparisons
|*increase of $9.10|
|*increase of $13|
Part A Deductible 2019 and 2020 Comparisons
|Inpatient hospital deductible||$1,364||$1,408|
|Daily coinsurance for 61st-90th Day||$341||$352|
|Daily coinsurance for lifetime reserve days||$682||$704|
|Skilled Nursing Facility coinsurance||$170.50||$176|
The standard monthly premium for Medicare Part B enrollees will be $144.60 for 2020.
More about Part B:
Original Medicare Part B (also known as Medical Insurance) covers outpatient hospital / emergency room visits, some preventative care, and physician services. As it was announced on 11/08/19, the Part B monthly premium will be $144.60, which is an increase of $9.10 from the $135.50 it was in 2019. (This is quite a jump from the $1.50 increase from 2018 to 2019).
The annual deductible will be $198, an increase of $13 from 2019. (This is also quite a jump from the $2 increase from 2018-2019). After your deductible is met, you typically pay 20% of the Medicare-approved amount for most doctor services (including most doctor services while you’re a hospital inpatient), outpatient therapy, and Durable medical equipment (DME).
“The increase in the Part B premiums and deductible is largely due to rising spending on physician-administered drugs. These higher costs have a ripple effect and result in higher Part B premiums and deductible.“
*Medicare Advantage Plans and Medicare Prescription Drug Plans are unaffected by this
The standard annual deductible for Medicare Part A beneficiaries will be $1,408 in 2020.
More about Part A:
Original Medicare Part A (also known as Hospital Insurance) covers inpatient hospital care, skilled nursing and home health care. As it was announced on 11/08/2019, the annual deductible for Part A will be $1,408, an increase of $44 from 2019’s cost of $1,364.
This deductible covers beneficiaries’ share of costs for the first 60 days of inpatient hospital care in a benefit period.
*This only pertains to enrollees who have 40 quarters of employment
For more information on the 2020 Medicare Parts A and B premiums and deductibles (CMS-8068-N, CMS-8069-N, CMS-8070-N), please visit https://www.federalregister.gov/public-inspection.