2020 Medicare Costs

2020 Medicare costs have been announced by CMS (Centers for Medicare and Medicaid Services).

The premium for Medicare Part B will go up from $135.50 this year to $144.60 in 2020.

For most people, this premium is taken out of their Social Security check. But some people on Medicare are not yet collecting Social Security and they pay this premium by check or auto-pay through their bank. These folks will need to change their auto-pay in December for the January payment.

The Part B deductible is $185 this year. It will be $198 in 2020.

For people enrolled in Medicare supplements, Plan G and Plan N do not fill this Part B deductible gap. So early in 2020, they will be paying $13 more out of their pocket until their plan G essentially becomes a Plan F (F as in full coverage).

NO MORE PLAN F IN 2020.

And of course, the big news for 2020 is that people who are new to Medicare will not be able to buy a Plan F Medicare supplement. Plan G will be the closest they can get to “full coverage”.

People who already have a Plan F Medicare supplement can keep it. But…. as time goes on, the group covered by Plan F will get older, sicker, smaller and….. more expensive. And their premiums will go through the roof.

Our brilliant politicians in Washington, DC have set up older and sicker seniors for sticker shock in the future. That’s because older, sicker seniors cannot change to another Medicare supplement plan in most states.

In most states, people who want to change their Medicare supplement must put in an application and answer medical questions. Anyone with heart conditions, blocked arteries, rheumatoid arthritis, serious diabetes, or any type of dementia will be stuck in their Plan F as the premium goes up and up.

2020 Medicare Costs and Medicare Advantage

While Medicare supplement premiums go up each year, Medicare Advantage plan co-pays are going down. Also headed downward are the MOOPs (maximum out-of-pocket) for most plans. In Tucson, AZ we have plans with MOOPs of $2,600 and $2,800.

The MOOP is a person’s maximum out-of-pocket cost per year – or the maximum financial risk a person has for their medical bills each year.

2020 Medicare Costs and Medicare supplements

People who have a Plan F Medicare supplement – and medical conditions that will prevent them from getting a new supplement – will have only one option as time goes on. Move to Medicare Advantage.

Who came up with the plan to discontinue the sale of Plan F?

Were they lobbyists for Medicare Advantage? Which senators and congressmen supported the legislation? Do they have any clue what they have done to millions of seniors who are stuck in their Plan F Medicare supplement? I doubt it.

What Next?

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2 Responses to "2020 Medicare Costs"

  1. Deb K says:

    Is Arizona one of these states? “In most states, people who want to change their Medicare supplement must put in an application and answer medical questions. Anyone with heart conditions, blocked arteries, rheumatoid arthritis, serious diabetes, or any type of dementia will be stuck in their Plan F as the premium goes up and up.”

    I have a plan F and so does my mother. Thank you

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