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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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NCOV -19 and MEDICARE 2020

Medicare Part B , which includes a variety of outpatient services cover medically necessary clinical diagnostic laboratory tests when a doctor or other practitioner orders them. Medically necessary clinical diagnostic laboratory tests are generally not subject to coinsurance or deductible. It will cover medically necessary imaging tests, such as computed tomography (CT) scans, as needed for treatment purposes for lung infections, however not for screening asymptomatic patients. For those imaging tests paid by Part B, beneficiary coinsurance and deductible would apply. If the Part B deductible ($198 in 2020) applies to the Part B services, beneficiaries must pay all costs - up to the approved amount of Medicare until the beneficiary meets the yearly Part B deductible. Once it is met, Medicare pays its share, and beneficiaries typically pay 20% of the approved amount of the service, except laboratory tests. There’s no yearly limit for what a beneficiary pays out-of-pocket tho

Cardiovascular Disease Risk Reduction

Cardiovascular disease generally refers to conditions that can lead to a heart attack or stroke. Cardiovascular disease risk reduction visits can help detect and prevent this disease. How to know if I am Eligible? Medicare   Part B  covers an annual cardiovascular disease risk reduction visit with your primary care  provider . You do not need to show any signs or symptoms of cardiovascular disease to qualify for screening, but you must be considered competent and alert when counseling is provided.  During the screening, your provider may; Encourage aspirin use if the benefits outweigh the risks You are a man  of age 45-79 Or a woman of age 55-79 Screen for high blood pressure if you are age 18+ Provide behavioral counseling and tips to encourage a healthy diet Note: Men under 45 and women under 55 are not encouraged to use aspirin as a tool to reduce cardiovascular disease. How much will it cost? If you are eligible,  Original Medicare  will cover your cardiovascular disease risk red

Lifetime Reserve Days

There are  90 days of  inpatient  hospital care coverage on Original Medicare for each  benefit period , In addition, you also have an additional 60 days of coverag e , called LIFETIME RESERVE DAYS .   These Lifetime Reserved Days  can be used only ONCE, and you will pay a  coinsurance  for each of it. To have a better understanding of it, let’s imagine an individual who had a 120-day  Medicare -covered inpatient stay, this means that they used 30 lifetime reserve days. After they have been out of the hospital for 60 days in a row, they will be eligible for another 90 days of hospital coverage because they will be in a new  benefit period . However, if they need  inpatient care  beyond the benefit period maximum, they will only have 30 of their 60 lifetime reserve days remaining. The above example illustrates that lifetime reserve days do not have to be applied to the same hospital stay. If you need to stay in the hospital twice for 120 days each time during different benefit