1/2/2020 by Share Your Story

What Changes You’ll See In Medicare in 2020

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.

MEDICARE PART A

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– mymedicarematter.org

Part A, which covers hospitalization costs, will see an increase in premium based on their work history.

  • For those with 30-40 quarters of work history, the monthly premium will be $252 in 2020 (up $12 from 2019);
  • For those with less than 30 quarters of work history, the monthly premium will be $458 in 2020 (up $21 from 2019).
  • Part A inpatient hospital deductible will increase to $1,408 in 2020 (up from $1364 in 2019).
  • Medicare patients who need beyond 60 days of inpatient coverage will pay a coinsurance of $352/day in 2020 as coinsurance, till the 90th
  • The first 20 days of a skilled nursing facility are paid by the deductible. From days 21 through 100, the patient will owe $176/day in coinsurance in 2020.

You can read more about what these insurance terms mean here: https://patientsrising.org/health-insurance-terms/.

MEDICARE PART B

  • The monthly premium for Medicare Part B will be $144.60 in 2020 (up from $135.50 in 2019).
  • The Part B deductible will be $198 in 2020 (up from $185 in 2019).

Rising costs on physician-administered drugs is mainly responsible for the increase in the 2020 premiums and deductible.

MEDIGAP PLANS C AND F

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.

MEDICARE ADVANTAGE

  • The 2020 MA premiums will average $23/month.
  • For plans that have an integrated Part D prescription coverage, the monthly premium will be $36 in 2020.

PART D DONUT HOLE

  • The maximum allowable deductible in 2020 for standard Part D plans is $435.
  • The out-of-pocket threshold increased to $6,350 in 2020.
  • Enrollees in standard Part D plans will pay 25% of their brand name or generic cost after having met their deductible, till they reach the catastrophic threshold.

PLAN FINDER

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.


RESOURCES

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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