[NFBMO] Medicare Premiums

[GeneCoulter at Charter.net]

Seniors enrolled in traditional Medicare will pay higher premiums and
deductibles next year, the CMS announced Friday.

Monthly premiums for Medicare Part B, which covers doctors' appointments and
outpatient hospital care, among other services, will rise almost 7% to
$144.60 in 2020 from $135.50 in 2019. Deductibles for Part B coverage will
also rise by 7% to $198 from $185.

The CMS attributed the increase in Part B premiums and deductibles to
increased spending on physician-administered drugs.

These prices apply to Medicare enrollees who make $87,000 or less in annual
income; the small number of Medicare Part B members with higher incomes will
pay more in premiums.

Meanwhile, the average deductible for Medicare Part A, which covers
inpatient hospital care and services at skilled-nursing facilities, is
slated to rise 3.2%, or $44, to $1,408 in 2020. The deductible covers
beneficiaries' share of costs for the first 60 days they are in the
hospital. After that, beneficiaries must pay coinsurance of $352 per day
through the 90th day.

About 99% of Medicare beneficiaries don't pay premiums for Part A coverage
because they have at least 40 quarters of Medicare-covered employment, the
CMS said.

The CMS in September announced that premiums for Medicare Advantage, which
allows seniors to receive Medicare through private companies, will hit their
lowest point in the last 13 years
<https://www.modernhealthcare.com/insurance/medicare-advantage-premiums-hit-
lowest-point-over-decade>  in 2020. Average monthly Advantage premiums are
expected to decrease 14.4% from $26.87 in 2019 to $23 next year.