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