2020 Medicare Parts A & B Premiums and Deductibles

Author: Chris Hagerstrom

The Centers for Medicare & Medicaid Services (CMS) released the 2020 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs.

Medicare Part B Premiums/Deductibles

The standard 2020 Medicare Part B premium will be increasing $9.10 per month, from $135.50 to $144.60.  The 2020 annual Part B deductible will be seeing an increase as well, up $13 to $198.

The Income-Related Monthly Adjustment Amounts (IRMAA) for Part B, including the updated income brackets, are as follows:

Beneficiaries who file individual tax returns with income: Beneficiaries who file joint tax returns with income: Income-related monthly adjustment amount Total monthly premium amount
Less than or equal to $87,000 Less than or equal to $174,000 $0.00 $144.60
Greater than $87,000 and less than or equal to $109,000 Greater than $174,000 and less than or equal to $218,000 $57.80 $202.40
Greater than $109,000 and less than or equal to $136,000 Greater than $218,000 and less than or equal to $272,000 $144.60 $289.20
Greater than $136,000 and less than or equal to $163,000 Greater than $272,000 and less then or equal to $326,000 $231.40 $376.00
Greater than $163,000 and less than $500,000 Great than $326,000 and less than $750,000 $318.10 $462.70
Greater than or equal to $500,000 Greater than or equal to $750,000 $347.00 $491.60

Premiums for high-income beneficiaries who are married and lived with their spouse at any time during the taxable year, but file a separate return, are as follows:

Beneficiaries who are married and lived with their spouses at any time during the year, but who file separate tax returns from their spouses: Income-related monthly adjustment amount Total monthly premium amount
Less than or equal to $87,000 $0.00 $144.60
Greater than $87,000 and less than $413,000 $318.10 $462.70
Greater than or equal to $413,000 $347.00 $491.60

 

Medicare Part A Premiums/Deductibles

Enrollees age 65 and over who have fewer than 40 quarters of coverage and certain persons with disabilities pay a monthly premium in order to voluntarily enroll in Medicare Part A.  Individuals who had at least 30 quarters of coverage or who were married to someone with at least 30 quarters of coverage will pay $252 per month in 2020.  Individuals who have less than 30 quarters of coverage will pay the full premium, which will be $458 per month in 2020, a $21 increase from 2019.

Part A Deductible and Coinsurance Amounts for Calendar Years 2019 and 2020 by Type of Cost Sharing

  2019 2020
Inpatient hospital deductible $1,364 $1,408
Daily coinsurance for 61st – 90th day $341 $352
Daily coinsurance for lifetime reserve days $682 $704
Skilled Nursing Facility coinsurance $170.50 $176
Chris Hagerstrom

Chris Hagerstrom is the Product Manager at Jack Schroeder and Associates, LLC. Through years of experience he has become an expert with Medicare, Life Insurance, Annuities and Supplemental Health and how to successfully navigate the senior market.

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