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An increase in premiums and deductibles, an all-improved Plan Finder tool, and the end of the dreaded Part D donut hole — these are some of the changes in Medicare for 2020.
WHAT YOU NEED TO KNOW ABOUT CHANGES TO MEDICARE AND MEDICARE ADVANTAGE IN 2020
An increase in premiums and deductibles, an all-improved Plan Finder tool, end of the Part D donut hole — these are some of the changes in Medicare for 2020.
Part A, which covers hospitalization costs, will see an increase in premium based on their work history.
You can read more about what these insurance terms mean here: https://patientsrising.org/health-insurance-terms/.
Rising costs on physician-administered drugs is mainly responsible for the increase in the 2020 premiums and deductible.
These plans will not be available for newly eligible Medicare enrollees in 2020. Those who are already eligible before 2020 can continue to enroll in them or apply at a later time. Part B deductibles are covered under Medigap Plans C and F, but other Medigap enrollees have to pay their Part B premiums out-of-pocket. For more information you can visit MedicareInteractive.org.
A new resource for shopping for Medicare Part D (Drug) plans and Medicare Advantage Plans can be found at https://www.medicare.gov/plan-compare.
Medicare Parts A and B information: https://www.cms.gov/newsroom/fact-sheets/2020-medicare-parts-b-premiums-and-deductibles
MA plan information:
Acknowledgements: Thank you to Surabhi Dangi-Garimella, PhD, for helping create this content.
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