Medicare 2020 Increases: 2020 Medicare Premium – 2020 Medicare Deductibles
Possible Medicare increases have been announced for 2020. It’s that time of year when premium and deductible increases are determined and announced. The Board of Trustees has released what they’re recommending for Medicare Part A and Part B deductible increases and the Medicare Part B premium increases for 2020. This has not been signed into effect as of yet, however when the Board of Trustees recommends something, its usually put into place. This is a sneak peek of what they might be and in the next couple weeks, when it becomes official, we will post another video of what increases they actually did sign into effect.
- Medicare Part B premium: As of 2019, the average Part B monthly premium was $135.50. Next year in 2020, they are recommending it increase to $144.60.
- Medicare Part A deductible: The Medicare Part A hospital deductible in 2019 was $1,364.00. This is a per occurrence deductible. The recommended increase for 2020 is $1,408.00. This deductible is paid every time you are hospitalized.
- Medicare Part B annual deductible: The Medicare Part B annual deductible for 2019 was $185 for the year. The recommended increase for 2020 is $198.00. This deductible is an annual deductible so it is only paid one time during the year.
Again, these are only recommended increases have not been signed into effect yet. Once the official announcement has been made, I will release a video breaking down all the increases and what this means for you.
Just to recap, the Medicare Part B premium will possibly be increased from $135.50 to $144.60 in 2020. The Medicare Part A hospital deductible will possibly be increased from $1,364.00 to $1,420.00 in 2020. The Medicare Part B annual deductible will possibly be increased from $185 to $198 in 2020.
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