Home USA news Medicare Part B premium 2020: Rates and deductibles rising 7% for outpatient...

Medicare Part B premium 2020: Rates and deductibles rising 7% for outpatient care


Medicare Part B premiums and deductibles for outpatient care will increase in 2020.

The Centers for Medicare and Medicaid Services announced the new 2020 rates Friday. For about 70% of Medicare beneficiaries, the premiums will rise nearly 7% to $144.60 a month, up from $135.50 in 2019.

The $9.10 monthly increase follows a smaller $1.50 rise this year. Upper-income retirees pay higher premiums and those rates also are going up.

The annual deductible for Part B coverage, which covers doctor visits and outpatient care, also will go up by 7% to $198 in 2020, an increase of $13 from the annual deductible of $185 in 2019.

Medicare Part B premium

The announcement comes nearly a month after the Social Security Administration set a modest 1.6% cost-of-living adjustment to benefits in 2020, which works out to approximately $24 a month for the average retired worker.

Veterans Day free food: These restaurants have deals for vets, active military Monday.

Veterans Day store discounts: Get free haircuts, store discounts, car washes and $40 off Amazon Prime.

“People who are really counting on that Social Security (raise) will lose some of that to this Medicare increase,” said Fred Riccardi, president of the Medicare Rights Center, a group that advocates on health care issues.

“For people who live with little to no savings, any increase in Medicare premiums or drug costs is going to be a struggle.”

For 2019, Social Security recipients – which include retirees, the disabled and young survivors of deceased retirees – received a 2.8% cost-of-living adjustment, or an average $40.90 extra each month, the most since 2012.

The government typically deducts Medicare Part B premiums from a beneficiary’s Social Security check.

Read or Share this story: https://www.usatoday.com/story/money/2019/11/09/medicare-part-b-2020-deductibles-premiums-increasing/2541901001/