I have recently enrolled in Medicare and have received my 2020 Medicare and You handbook and cannot find what the 2020 Medicare Part A and B deductibles will be? Do you have any idea what the new Medicare costs will be? Why weren’t the numbers in the Medicare.gov handbook? Thank You, Sandra from San Antonio, TX
Every year the Medicare and You handbook is printed and mailed out before October 1st to all Medicare beneficiaries to help guide them with the Medicare Annual Enrollment period which ends December 7th.
The handbook states that at the time of printing the Medicare and You Handbook, the premiums, and deductible amounts for Part A and Part B were not available. Do not know why Medicare cannot include what the new costs will be for next year and with this year being stressful with the new Medicare.gov website change.
But guess what? The 2020 Medicare Parts A and B premiums and costs were released by the “Centers for Medicare and Medicaid” aka CMS (Medicare) on Monday, November 12, 2019 and I have some of the cost listed below. Yes, the costs and premiums are going UP!!
The new 2020 Medicare Parts A and B costs are below:
• Part A Costs (Inpatient Hospital): The new 2020 Part A inpatient hospital deductible will be an increase from $1,364 for 2019 to $1,408 which is an increase of $44. Remember the Part A deductible starts over every 60 days. It is not a once a year deductible. Under Part A is also Medicare Skilled Nursing and your 2020 costs will be days 1-20 $0 copay per day and days 21- 100 will be $176 per day.
• Part B Costs (Medical): The new 2020 Part B medical/doctor deductible will rise from $185 yearly deductible to $198 beginning January 1, 2020, which is a $13 increase. With Medicare paying 80% of the Medicare approved amount and you (Medicare beneficiary) paying the remaining 20% of the Medicare approved amount.
• Part B Premiums: New premium for 2020 will be increased from $135.50 in 2019 to $144.60 beginning January 1, 2020. This is an average increase and those who income is higher as an individual or couple will be paying more beginning January 1, 2020. This information will be discussed on next week’s article.
• Part D Costs (Prescription Drug Plan): The new 2020 Part D deductible is $435 once a year from the 2019 Part D deductible of $415. You will pay your share for your prescription drugs until the combined amount reaches $4020 when 2020 Donut Hole begins verses $3820 when 2019 Donut Hole began.
There are specific Medicare rules regarding changing Medicare plans. Call the Toni Says Medicare Hotline at 832-519-8664 or visit the Tonisays.com website at www.tonisays.com. ■
— Toni King, author of the new Medicare Survival Guide® Advanced edition is giving a “Thanksgiving” $5 discount for a Toni Says® Medicare Survival bundle package available only at www.tonisays.com.