Medicare Part B Premium Levels
For most Medicare Beneficiaries, the premium due for Medicare Part B in 2020 will be $144.60 per month. This amount is up $9.10 per month from 2019's $135.50 standard amount.
Beneficiaries with higher than standard annual income have to pay more for their monthly Part B premiums. The table below illustrates how some Beneficiaries will owe as much as $491.60 in monthly premiums in 2020, based on income as reported on their federal tax return for 2018:
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For individuals with this income:
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Or joint filers with this income:
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Monthly premium:
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$87,000 to $109,000
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$174,000 to $218,000
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$202.40
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$109,000 to $136,000
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$218,000 to $272,000
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$289.20
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$136,000 to $163,000
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$272,000 to $326,000
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$376.00
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$163,000 to $500,000
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$326,000 to $750,000
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$462.70
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Over $500,000
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Over $750,000
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$491.60
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Medicare Part B Deductible
The Medicare Part B deductible is subject to change each year, and reflects the up-front amount that must be paid in a calendar year under the Original Medicare program before 80/20 co-insurance applies. In 2020, the Medicare Part B deductible will be $198, an increase of $13 from this year's $185 Part B deductible. Medicare Beneficiaries enrolled in Medicare Advantage HMOs and PPOs (Part C of Medicare) typically do not pay the Medicare Part B deductible directly; rather Part C plan members pay co-pays and other out-of-pocket costs according to the specific terms of the plan.
Until next time,
Andrew Herman
President, AH Insurance Services Inc.
