Medicare part B premium 2020
Many people want to know what is the Medicare part B premium 2020. The part B premium is the amount of money Medicare charges for everyone enrolled in Medicare part B. The standard premium is below but Part B premiums can be higher for those that make more income. Making over certain amounts will increase the Medicare Part B premium. (IRMAA) This year there are some changes in Medicare deductibles and coinsurance. Each year the Medicare premiums, deductibles, and co-payment amounts are adjusted in accordance with the Social Security Act. The information below will give you the updated figures for 2020.
Social Security has had an increase of 1.6% for 2020.
Part B deductible for 2020
The 2020 Medicare part B deductible is going to be $198.00. This means the first $198 of care for part B services (outpatient services such as doctors visits, testing and scans) will need to be paid before Medicare benefits of 80% start. Prices are Medicare based prices so the deductible may take a few visits to meet $198 of care.
The changes to the Medicare Part A deductible and coinsurance for 2020 are as follows:
For 2020 the changes to the part B deductible are as follows:
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