New Medicare Premiums for 2020
The Medicare premiums for 2020 have changed compared to 2019, and there are increased premium rates you should know about before assessing your health care needs.
Perform research on your own individual Medicare Advantage plan, then compare rates of other plans that you discover in your research.
Although Medicare premiums for 2020 have increased, now is the time to take a look at your income from 2018 to determine the cost of your Medicare premiums
Medicare Costs – 2019 vs. 2020
Now that you know what Medicare premium payments you have to pay in 2020, how much of an increase are you actually paying from last year?
- In 2019, the monthly Medicare Part B standard premium was $135.50 — a difference of $9.10 to total a $144.60 Medicare premium for 2020.
- In 2019, the Medicare Part A deductible cost $1,364 — a difference of $44 to total a $1,408 deductible for Medicare Part A in 2020.
Although Medicare premiums for 2020 have increased, now is the time to take a look at your income from 2018 to determine the cost of your Medicare premiums. It would also be the perfect time to review and compare various Medicare Part C and D plans to ensure you’re picking the right one that fits with you and your lifestyle.
Still have more questions about these new Medicare premiums rates for 2020? Speak to a licensed professional and review the 2020 Medicare premium rates for different Medicare benefits.