2020 Medicare changes: Key takeaways

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• The standard Part B premium is projected to increase to $144.30/month.

• The Part B deductible is projected to increase to $197 for 2020.

• Part A premiums, deductible, and coinsurance are projected to be higher in 2020.

• Medigap Plans C and F will no longer be available for purchase by newly-eligible Medicare beneficiaries.

• The Medicare Plan Finder tool has been upgraded for the first time in a decade.

• The income brackets are high-income premium adjustments for Medicare Part B and D will be inflation-adjusted for the first time in 2020; “high-income” will start at $87,000 for a single person, instead of $85,000.

• Medicare Advantage enrollment is expected to continue to increase.

• Part D donut hole will no longer exist after the end of 2019, but a standard plan’s maximum deductible will increase to $435, and the threshold for entering the catastrophic coverage phase (where out-of-pocket spending decreases significantly) will increase to $6,350.

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Source:  Louise Norris  - Medicare Resources