As a Medicare recipient, you may be wondering how the new 2020 charges compare to your 2019 charges. Let’s take a look.
First, the good news for 2020: when it comes to Medicare Part B, things are going to stay near where they were in 2019. Your Part B premiums will average around $144.60, and your Part B deductible will run around $198.
Most of us did not pay a monthly Part A premium in 2019, and those of us who did paid up to $437 on average every month. In 2020, average monthly Part A premiums will increase to $458.
When it comes to your Part A hospital inpatient deductible, you’ll be paying $1,408 for each benefit period, up from $1,364 in 2019. For the first 60 days in the hospital, your insurance co-pay will remain at $0, but after that you can expect costs to increase. For days 61 to 90, daily coinsurance will be $352 per day during each benefit period. After 91 days, your coinsurance for each “lifetime reserve day” will be $704. This figure applies for up to 60 days over the course of your life, and you’ll still be responsible for all costs if you exceed your maximum number of lifetime reserve days.
In Your Community
Keep in mind that these are the average costs for basic Medicare in 2020. For personalized information about your individual Medicare costs, contact your local licensed HealthMarkets agent to get the help you need – all at no cost to you.