Medicare 2020 Figures

Medicare 2020 Figures

Russo Law Group

MEDICARE 2020 FIGURES
MEDICARE PART A: HOSPITAL SERVICES
Inpatient hospital deductible $1,408/illness
Daily co-insurance $0/day 1-60 $352/day 61-90 $704/day 91-150
Skilled Nursing Facility (SNF) Daily co-insurance amount $0/day 1 – 20 $176/day 21 – 100
Part A Premiums For those not otherwise entitled to Part A Benefits who purchase Medicare coverage Medicare Covered Employment – – Less than 30 quarters: $458/month – 30 to 39 quarters: $252/month (if you pay a late enrollment fee – the premium could be higher)
MEDICARE PART B: PHYSICIAN SERVICES
Deductible $198 per year
Co-Insurance 20% of approved charge
Balance Billing 15% of approved charge
MEDICARE PART B PREMIUMS: YOU PAY IF YOUR YEARLY INCOME IS
SINGLE MARRIED COUPLE
$144.60 $87,000 OR LESS $174,000 OR LESS
$202.40 $87,001-109,000 $174,001-218,000
$289.20 $109,001-136,000 $218,001-272,000
$376.00 $136,001-163,000 $272,001-326,000
$462.70 $163,001-500,000 $326,001-750,000
$491.60 $500,000 OR ABOVE $750,000 OR ABOVE

For more information on Medicare you can visit us at www.vjrussolaw.com. Additionally, we also have information and resources on Medicaid, Social Security, Veterans Benefits, Elder Law, Special Needs Planning and Estate Planning. Please do not hesitate to contact us with any questions or comments.

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This Post Has 2 Comments

  1. Does the pmt amount for Medicare refer to gross income or adjusted gross income? What tax year are they looking at to come up with what I’ll be paying in 2020?

    Reply

    1. Thank you for your question. Please note that Medicare uses the modified adjusted gross income reported on your IRS tax return from 2 years ago. For example, for 2020, Medicare will use your 2018 figures.

      Thank you and have a great day.

      Sincerely yours,
      Kim N. Christian, Esq. | Partner

      Reply

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