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Medicare Cost for 2020












There will be new rates for Medicare costs this year, 2020. The premium will rise by nearly 7% to $144.60 a month, up to $135.50 in 2019. Upper-income retirees pay higher premiums and those rates also are going up.

The annual deductible for Part B coverage, which includes doctor visits and outpatient care, also will go up by 7% to $198, an increase of $13 from the annual deductible of $185 in 2019.

The announcement comes nearly a month after the Social Security Administration set a modest 1.6% cost-of-living adjustments to benefits in 2020, which works out to approximately $24 a month for the average retired worker.

Medicare Part B Income-related Monthly Adjustments

Since 2007, a beneficiary's Part B monthly premium is based on his or her income. These income-related monthly adjustments amounts (IRMAA) affect roughly 7% of people with Medicare Part B. 

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 $326,000
$114.60
$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 $500,00
Greater than or equal to $750,000
$347.00
$491.60



Premiums for high-income beneficiaries who are married and lived with their spouse at any time during the taxable year, but file a separate return are as follows;

Beneficiaries who are married and lived with their spouses at any time during the year, but who file separate tax returns from their spouses
The income-related monthly adjustment amount
The 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
461.70
Greater than or equal to $413,000
347.00
491.60


Medicare Part A Premiums/ Deductibles 

Medicare Part A covers inpatient hospital, skilled nursing facility, and some health care services. About 99% 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 hospital deductible that beneficiaries will pay when admitted to the hospital will be $1,408 in 2020, an increase of $44 from $1,364 in 2019. The Part A inpatient hospital deductible covers beneficiaries' share of costs for the first 60 days of Medicare-covered inpatient hospital care in a benefit period. In 2020, beneficiaries must pay a coinsurance amount of $352 per day for the 61st through 90th-day hospitalization in a benefit period and $704 per day for lifetime reserve days. For beneficiaries in skilled nursing facilities, the daily coinsurance for days 21 through 100 of extended care services in a benefit period will be %176 in 2020. 

Part A deductible and coinsurance amount for 2019 and 2020 by Tyes of Cost-sharing.
2019
2020
Inpatient hospital
deductible
$1,364
$1,408
Daily coinsurance for 61st to 90th day
$341
$352
Daily coinsurance for lifetime reserve days
$682
$704
Skilled nursing facility coinsurance
$170.50
$176
Enrollees get 65 and over who have fewer than 40 quarters of coverage and certain persons with disabilities pay a monthly premium in order to voluntarily enroll in  Medicare Part A. Individuals who had at least 30 quarters of coverage or were married to someone with at least 30 quarters of coverage may buy into Part A at a reduced monthly premium, which will be $252 in 2020, a $12 increase from last year. Certain uninsured aged individuals who have less than 30 quarters of coverage and certain individuals with disabilities who have exhausted their entitlement will pay the full premium, which will be $458 a month in 2020, a $21 increase from last year.

For more information on the 2020 Medicare Parts A and B premiums and deductibles, visit https://www.federalregister.gov/public-inspection
.
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