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2020 Medicare Costs:



Part A (Hospitalization):  

Part A deductible is increasing from $1,364 in 2019 to $1,408 in 2020.


Days 1-60: $0 daily coinsurance for each benefit period will not change.

Days 61-90: $341 daily coinsurance in 2019 is increasing to $352 daily coinsurance for each benefit period.

Days 91 and beyond: $682 daily coinsurance in 2019 is increasing to $704 daily coinsurance for each "lifetime reserve day" after day 90 for each benefit period.


 

Part B (Outpatient Medical Costs)

The standard Part B premium is increasing from $135.50/month in 2019 to $144.60/mo. In 2020.

The Part B deductible is increasing from $185/year in 2019 to $198/year in 2020.


Once the deductible is met, Medicare will typically pay 80% of approved services and you will continue to pay 20%.


For more details on upcoming Medicare costs, you can click on the following link to visit the Medicare website:


https://www.medicare.gov/your-medicare-costs/medicare-costs-at-a-glance


New MACRA in Effect for 2020

 

Beginning January 1, 2020, the new MACRA takes effect. MACRA, which stands for "Medicare Access and CHIP Reauthorization Act of 2015", is a new law that changes Medicare supplement plans. It means that the Part B deductible will no longer be covered for newly eligible Medicare recipients starting January 1, 2020. As a result, Medicare supplements Plan F, High Deductible Plan F and Plan C will no longer be offered. However, if you became eligible for Medicare prior to January 1, 2020, you will be able to keep these plans and will still be able to purchase these plans after January 1st.


Beginning January 1st, Plan G will also offer a High Deductible Plan G. The deductible for all services (including Part A and Part B) will be $2,300/year. Once the deductible is met, you will still be responsible for the Part B deductible of $198. Once the high deductible and Part B deductible are paid, all Medicare-approved services/costs are covered.


If you would like more information about Medicare changes, please contact Diane:

 Diane@LakeshoreHealthInsurance.com