Medicare changes 2020

Medicare changes 2020

Medicare changes 2020 reviews the changes with Medicare cost share and premiums for 2020.   Take a look below to see the changes that will impact you.

Part B premium changes

The standard Medicare Part B premium is 135.50 in 2019 and is going to be changing to $144.60 a month for 2020.     Medicare part B premiums can be billed quarterly or can be taken automatically out of the Social Security check for those receiving Social Security payments. Medicare Easy Pay is also available to those that are not getting Social Security income but want to have auto payment.  Keep in mind, you must enroll in Medicare A and B in order to use a Medicare Advantage or Medicare supplement (also called Medigap) plan. You are able to sign up online if turning 65.  You do not need to take part B in order to get a Stand Alone drug plan (Medicare PDP)

Those that make higher incomes

Medicare Part B premiums and Part D drug premiums can be higher for those that earn income over certain amounts 2 years prior to the current year. Click here to learn about IRMAA

Part B deductible changes

Medicare part B covers medical services not received in the hospital.  This will include services such as doctor visits, lab and blood work, X-rays and scans, physical therapy, and anything else outside of the hospital. There is out of pocket prior to coverage for Medicare Part B.  This is the amount of money you would need to pay before part B benefits will start.  The deductible will be changing from $185 to $198 in 2020.

Medicare Part A deductible increasing

The Medicare Part A deductible is the amount you would need to pay prior to receiving coverage for inpatient hospital stays.   A new deductible will be applicable for every 60 day benefit period.  The current part A deductible is $1,364 and the new deductible is going to be $1,408 in 2020.  This is the amount you need to pay for a hospital admission. The deductible will only need to be paid one time per 60 day benefit period.

Other Costs Medicare Part A 2019 and 2020