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Medicare Premiums

MEDICARE ANNOUNCES PREMIUMS, DEDUCTIBLES, COPAYMENTS FOR 2020

The Centers for Medicare & Medicaid Services (CMS) recently announced 2020 premiums, deductibles, and copayments for Medicare Part A, Medicare Part B, and Medicare Supplements:

  • Monthly Medicare Part B premium - $144.60 standard premium for most (see Part B premium table below for income related amounts)
  • Annual Medicare Part B deductible - $198 annual
  • Monthly Medicare Part A premium - $458 per month
  • Medicare Part A hospital deductible - $1,408 per benefit period
  • Part A copayment (hospital days 61-90) - $352 per day
  • Part A copayment (hospital days 91-150) - $704 per day
  • Part A copayment (Skilled Nursing Facility Care days 21-100) - $176 per day
  • Annual deductible Plan HDF and Plan F+ - $2,340
  • Annual out-of-pocket expense limit for Plan K - $5,880
  • Annual out-of-pocket expense limit for Plan L - $2,940

Part B Monthly Premium

You pay a Part B premium each month. Most people will pay the standard premium amount. However, if your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount, you'll pay the standard premium amount and an Income Related Monthly Adjustment Amount (IRMAA).  IRMAA is an extra charge added to your premium.  In 2020, the standard Part B premium will be $144.60 (or higher depending on your income). 

If your yearly income in 2018 (for what you pay in 2020)                                                     
File individual tax return File joint tax return File married & separate tax return You pay in  2019 You pay in 2020 (2018 income)
$87,000 or less $174,000 or less $87,000 or less $135.50 $144.60
above $87,000 up to $109,000 above $174,000 up to $218,000 N/A $189.60 $202.40
above $109,000 up to $136,000 above $218,000 up to $272,000 N/A $270.90 $289.20
above $136,000 up to $163,000 above $272,000 up to $326,000 N/A $352.20 $376.00
above $163,000 up to $500,000 above $326,000 up to $750,000 above $87,000 and less than $413,000 $433.40 $462.70
$500,000 or above $750,000 and above $413,000 and above $460.50 $491.60

 

Medicare Advantage Plans (Part C) and Medicare Prescription Drug Plans (Part D) Premiums

Visit Medicare.gov/find-a-plan to get plan premiums. You can also call 1‑800‑MEDICARE (1-800-633-4227). TTY users should call 1‑877‑486‑2048 (24 hours a day/7 days a week). You can also call the plan or your State Health Insurance Assistance Program.

Part D Monthly Premium

The chart below shows your estimated prescription drug plan monthly premium based on your income. If your income is above a certain limit, you will pay an income-related monthly adjustment amount in addition to your plan premium.

If your yearly income in 2018 (for what you pay in 2020)
File individual tax return File joint tax return File married & separate tax return You paid in 2019 You pay in 2020 (2018 income)
$87,000 or less $174,000 or less $87,000 or less Your plan premium Your plan premium
above $87,000 up to $109,000 above $174,000 up to $218,000 N/A $12.40 + plan premium $12.20 + plan premium
above $109,000 up to $136,000 above $218,000 up to $272,000 N/A

$31.90 + plan premium

$31.50 + plan premium
above $136,000 up to $163,000 above $272,000 up to $326,000 N/A $51.40 + plan premium $50.70 + plan premium
above $163,000 up to $500,000 above $326,000 up to $750,000 above $87,000 up to $413,000 $70.90 + plan premium $70.00 + plan premium
$500,000 or above $750,000 and above $413,000 and above $77.40 + plan premium $76.40 + plan premium

2020 Part D National Base Beneficiary Premium—$32.74 in 2020

This figure is used to estimate the Part D late enrollment penalty and the income-related monthly adjustment amounts listed in the table above. The national base beneficiary premium amount can change each year. See your Medicare & You handbook or visit Medicare.gov for more information.

For more information about Medicare costs, visit Medicare.gov.

 

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