CMS announces 2020 Medicare Parts A & B premiums and deductibles
Medicare Part A (hospitalization) Premiums/Deductibles
Medicare Part A covers inpatient hospital, skilled nursing facility, and some home health care services. About 99 percent of Medicare beneficiaries do not have a Part A premium since they have at least 40 quarters of Medicare-covered employment.
The Medicare Part A inpatient deductible that beneficiaries will pay when admitted to the hospital is:
$1,408 in 2020,
an increase of $44 from $1,364 in 2019 (which was an increase of $24 from $1,340 in 2018).
Medicare Part B (medical) Premiums/Deductibles
Medicare Part B covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and certain other medical and health services not covered by Medicare Part A.
The Medicare Part B standard monthly premium will be:
$144.60 for 2020,
an increase of $9.10 from $135.50 in 2019 (which was an of $1.50 from $134 in 2018).
The Medicare Part B annual deductible will be:
$198 in 2020,
an increase of $13 from the annual deductible of $185 in 2019 (which was an increase of $2 from $183 in 2018).
An estimated 2 million Medicare beneficiaries (about 3.5 percent) will pay less than the full Medicare Part B standard monthly premium amount in 2020 (as in 2019) due to the statutory hold harmless provision, which limits certain beneficiaries’ increase in their Part B premium to be no greater than the increase in their Social Security benefits. The hold harmless provision does not apply to those enrolled in Medicare but who are not yet receiving Social Security, new Medicare beneficiaries, seniors earning more than $87,000 a year, and “dual eligibles” who get both Medicare and Medicaid benefits.
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