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Home » Medicare Part B Premium and Deductibles for 2020

Medicare Part B Premium and Deductibles for 2020

by Mike Gamble ★ 2min read ★

Just like a puzzle with pieces missing, Medicare does not pay all of your medical expenses.

Just like a puzzle with pieces missing, Medicare does not pay all of your medical expenses.


Every year on January 1st, Medicare’s premiums, deductibles, copayments, and coinsurance costs are adjusted. Here are the amounts for 2020.


— 2020 Medicare Deductibles / Co-Pays —

Part A: Hospital Deductible (per Benefit Period*)$1,408
Part A: Hospital Coinsurance, per day (days 61-90)$352
Part A: Hospital Coinsurance, per lifetime reserve day after day 90 of each benefit period (maximum of 60 lifetime reserve days for ALL benefit periods combined during your lifetime)$704
Part A: Skilled Nursing Facility Coinsurance, per day (days 21-100)$176
Part B: Monthly Premium (**See Notes below)$144.60**
Part B: Annual Deductible$198

*Benefit Period. The way Original Medicare measures your use of hospital and skilled nursing facility (SNF) services. A benefit period begins the day you’re admitted as an inpatient in a hospital or SNF. The benefit period ends when you haven’t received any inpatient hospital care (or skilled care in a SNF) for 60 days in a row. If you go into a hospital or a SNF after one benefit period has ended, a new benefit period begins. You must pay the inpatient hospital deductible for each benefit period. There’s no limit to the number of benefit periods each year.

Note #1: Your Part B premium will be based on your modified adjusted gross income. Most people will pay the amount shown in the chart above. But, if you filed an individual tax return for 2018 and your modified adjusted gross income was more than $87,000, your Part B premium for 2020 is shown in the table below. If you filed a joint tax return for 2018 and your modified adjusted gross income was more than $174,000, your Part B premium for 2020 is also shown in the table below. The Social Security Administration will compute your premium for you. However, we suggest that you double-check their computation against your 2018 tax return.

Note #2: “Why does Social Security use my modified adjusted gross income from 2018 to determine my Part B premium for 2020?” Part B premiums for 2020 were announced in mid-November 2019. Instead of guessing what your earnings would be for the full year in 2019, Social Security used the adjusted gross income from your 2018 tax return.

— 2020 Part B Monthly Premium —

If your 2018 income was …  
File Individual
Tax Return
File Joint
Tax Return
File Married &
Separate Return
You Pay
in 2020
$87,000
or less
$174,000
or less
$87,000
or less
$144.60*
$87,001
to $109,000
$174,001
to $218,000
Not applicable$202.40*
$109,001
to $136,000
$218,001
to $272,000
Not applicable$289.20*
$136,001
to $163,000
$272,001
to $326,000
Not applicable$376.00*
$163,001
to $499,999
$326,001
to $749,999
$87,001
to $412,999
$462.70*
$500,000 and above$750,000 and above$413,000 and above$491.60*

*If you don’t have to pay a late-enrollment penalty.

— 2020 Part D Monthly Premium Surcharge —

Note: Just like your Part B premium, your Part D premium surcharge will be based on your modified adjusted gross income. Most people will pay the amount billed by their insurance company. But, if you filed an individual tax return for 2018 and your modified adjusted gross income was more than $87,000, your Part D premium surcharge for 2020 is shown in the table below. If you filed a joint tax return for 2018 and your modified adjusted gross income was more than $174,000, your Part D premium surcharge for 2020 is also shown in the table below. The Social Security Administration will compute your premium for you. However, we recommend that you double-check their computation against your 2018 tax return.

If your 2018 income was …  
File Individual
Tax Return
File Joint
Tax Return
File Married &
Separate Return
Your 2020 Monthly
Surcharge
$87,000
or less
$174,000
or less
$87,000
or less
$0*
$87,001
to $109,000
$174,001
to $218,000
Not applicable$12.20*
$109,001
to $136,000
$218,001
to $272,000
Not applicable$31.50*
$136,001
to $163,000
$272,001
to $326,000
Not applicable$50.70*
$163,001
to $499,999
$326,001
to $749,999
$87,001
to $412,999
$70.00*
$500,000 and above$750,000 and above$413,000 and above$76.40*

*If you don’t have to pay a late-enrollment penalty.

Source:

Medicare Costs at a Glance [medicare.gov]


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Article Summary
Medicare Part B Premium and Deductibles for 2020
Article Name
Medicare Part B Premium and Deductibles for 2020
Description
Medicare's deductibles, coinsurance amounts, Part B premiums, and Part D premium surcharges change – usually increasing – every January 1st. Here are the amounts for 2020.
Author
Mike Gamble
Publisher
Our Aging Parents

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About Mike Gamble

Mike is a former family caregiver with a passion for improving the Quality of Life for Older Adults and Family Caregivers.

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Mike Gamble

Mike is a former family caregiver with a passion for improving the Quality of Life for Older Adults and Family Caregivers. Read More…

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