As of 2020 there will be some changes in premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs.

Check out 2021’s Medicare changes.

Medicare Part B Premiums/Deductibles

The standard monthly premium for Medicare Part B enrollees will be $144.60 for 2020, an increase of $9.10 from $135.50 in 2019. The annual deductible for all Medicare Part B beneficiaries is $198 in 2020, an increase of $13 from the annual deductible of $185 in 2019.

Medicare Part B Income-Related Monthly Adjustment Amounts

Every beneficiary’s Part B monthly premium is based on his or her income. The 2020 Part B total premiums for high income beneficiaries are shown in the following table:

Beneficiaries who file individual tax returns with income Beneficiaries who file joint tax returns with income Income-related monthly adjustment amount Total monthly premium amount
Less than or equal to $87,000 Less than or equal to $174,000 $0.00 $144.60
Greater than $87,000 and less than or equal to $109,000 Greater than $174,000 and less than or equal to $218,000 57.80 202.40
Greater than $109,000 and less than or equal to $136,000 Greater than $218,000 and less than or equal to $272,000 144.60 289.20
Greater than $136,000 and less than or equal to $163,000 Greater than $272,000 and less than or equal to $326,000 231.40 376.00
Greater than $163,000 and less than $500,000 Greater than $326,000 and less than $750,000 318.10 462.70
Greater than or equal to $500,000 Greater than or equal to $750,000 347.00 491.60

Premiums for married high-income beneficiaries who lived with their spouse at any time during the taxable year, filing a separate return:

Beneficiaries who are married and lived with their spouses at any time during the year, but who file separate tax returns from their spouses Income-related monthly adjustment amount Total monthly premium amount
Less than or equal to $87,000 $0.00 $144.60
Greater than $87,000 and less than $413,000 318.10 462.70
Greater than or equal to $413,000 347.00 491.60

Medicare Part A Premiums/Deductibles

Below we show the Part A Deductible and Coinsurance Amounts for both 2019 and 2020:

Part A Deductible and Coinsurance Amounts for Calendar Years 2019 and 2020 by Type of Cost Sharing
  2019 2020
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

Senior65.com Next Steps

If you want to find a plan that will help pay for the deductibles and coinsurance amounts not covered by Medicare, give us a call at 800-930-7956. We would be glad to discuss your options and help you select and enroll in a plan that meets your needs. There is never a cost or hidden fee to work with us.

You may also want to check out how Medicare is covering COVID-19.

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