Medicare 2020 costs at a glance

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2020 Costs at a Glance
Part A premium Most people don't pay a monthly premium for Part A because they've paid into Medicare from payroll deductions for 40 quarters (10-years) or more. If however, you have less than 30 quarters and you are required to pay for Part A, the monthly premium is $458.  This monthly premium is reduced to $252 if you have between 30 - 39 quarters.
Part A hospital hospital and inpatient deductible

 You pay: $1,408 deductible for each benefit period of 60 days. After 60 continuous in-patient days, the daily co-insurance is $352.  After 90 continuous in-patient days the daily co-insurance is $704 up to 150 days.   

Part B premium Most people pay $144.60 each month for Part B however, premiums are determined on the "adjusted gross income" (AGI) filed with the IRS with a look-back period of 24 months. Incomes higher than $87,000 (single) or $174,000 (married filing jointly) are subject to the "Income-Related Monthly Adjustment Amount" (IRMAA) and will pay a higher monthly premium for Part B.
Part B deductible and coinsurance

In 2020, the annual Part B deductible is $198. After the deductible is met, you are responsible for 20% of all Medicare-approved charges.  This includes doctor visits, lab tests / scans, ambulance transport, and most out-patient services.  However there are many services billed under Part B and subject to the 20% co-insurance while hospitalized.  

Some preventive services are not subject to the co-insurance. 

Part C premium Part C refers to Medicare Advantage plans.  Many Advantage plans have very low or no monthly premium. 
Part D premium The Part D monthly premium varies by plan and the state you live in. Higher-income consumers will pay more and are subject to IRMAA.

 This information comes from www.medicare.gov/your-medicare-costs

By contacting the phone number on this website you will be directed to a licensed agent.

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