New 2020 Medicare Costs at a Glance
Happy New Year! As I do every new year, I wanted to post the key, new Medicare numbers that will be in effect for 2020. These are the key changes to Medicare’s premiums and coverages. A highlight is the average costs for Part D drug plans have gone done and the infamous “Donut Hole” (aka Coverage Gap) name no longer applies as costs for people who do reach this stage now only pay 25% of the cost for Brand or Generic drugs.
- Part A deductible – Will be $1408 up from $1364 (per 60 day Benefit Stay)
- Part B Deductible – Will be $198 up from $185 (Annual deductible)
- Part B Premium – Will be $144.60 up from $135.50 (Excluding Irmaa)
- Part D Maximum Deductible – Will be $435 up from $415 (Some plans don’t have a deductible)
- Part D Premium National Average – Will be $32.74 DOWN from $33.19 (Is used to determine Part D Penalty)
Feel free to contact me if you have any questions or need assistance with selecting a Medicare Plan. I don’t charge any fees nor increase your cost.
Based in the Richmond, Va area, David Higgs of Choices In Medicare specializes in helping seniors transition to Medicare. He can be reached at email: David@ChoicesInMedicare.com or go to website: www.ChoicesInMedicare.com