Wednesday, November 20, 2019

Medicare costsharing figures for 2020

Medicare has premiums, deductibles, and copays, like other health insurance. And virtually all those costs are going up in 2020. The standard Part B premium will go up almost $10 a month to $144.60 in 2020. The costsharing figures are calculated based on the previous year's spending and formulas in the Social Security Act. According to the federal Centers for Medicare and Medicaid Services this year's increases are largely because of increases in the costs of physician-administered drugs in 2019. See the table below for other Medicare out-of-pocket costs beneficiaries will have to pay in 2020.

Medicare A & B Premiums, Deductibles, Copays 2020

Part A (hospital) Beneficiary pays:
Hospital Deductible $1,408/benefit period
Hospital Copay $352/day for days 61-90
$704/day for days 91-150
Skilled Nursing Facil Copay $176/day for days 21-100
Part A Premium $458/month for those with fewer than 30 quarters of Medicare-covered employment
$252/month for those with 30-39 quarters of Medicare-covered employment
Part B (doctor, outpatient services, etc.) Beneficiary pays:
Annual Deductible $198
Part B Premium for those with incomes below $85,000 or $170,000 married couple $144.60/mo Under the "hold harmless" provision a small number of beneficiaries will pay less than the standard premium
Most covered Part B services 20%

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