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The Medicare premiums, deductibles and co-payment amounts have been officially updated for 2020. Social security saw a rather small increase of only 1.6%, which will be eaten up by Medicare\\u2019s Part B premium increase.

2020 Medicare Part A Deductible and Coinsurance

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• Inpatient hospital deductible: $1,408.00
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• Daily Coinsurance Days 61-90: $352.00
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• Daily Coinsurance-Lifetime Reserve: $704.00
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• Skilled Nursing Facility Days 21-100: $176.00
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2020 Medicare Part B Premium and Annual Deductible

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• Standard Monthly Premium: $144.60
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• Annual Deductible: $198.00
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How will the Medicare Part B annual deductible increasing impact you if you have a Medicare Supplement? If you have a Medicare Supplement Plan F, the deductible is paid for you so you would not have to worry about that increase as far as what your out-of-pocket costs are going to be. If you have the Medicare Supplement Plan G, then the only out-of-pocket cost that\\u2019s going to increase for you is the Part B deductible going up $13.00 from $185 to $198. If you have the Medicare Supplement Plan N, the only out-of-pocket increase will be the Part B deductible as well. The co-pays will stay the same as well as the Part B excess charges.

Many people are asking if the Plan F will be a better option than the Plan G because the Part B deductible increased. Look at it from the carrier\\u2019s perspective: Imagine that Plan F and Plan G both have one million people in each plan and the Part B deductible increased by $13.00. The Plan F is now going to have to pay an additional $13 million out of their budget to cover the deductible increase for their clients. However, the one million people in the Plan G all pay their own deductible so the insurance company is not going to have to pay any more money for their clients in the Plan G to cover that deductible increase because all of those clients already pay their own deductible. In this situation, it\\u2019s much more likely that the Plan F is going to see the more significant premium increase to make up for the $13 million increase.

There have been some changes with Medicare Part D plans as well. CVS purchased Aetna but in order for them to do so, Aetna had to sell all of its Part D plans. WellCare, another Medicare Part D company, purchased all of Aetna\\u2019s Part D plans. Those clients that were on an Aetna Part D plan are now going to rollover into a WellCare Plan.

Humana made another huge change to their Part D plan, Humana Walmart. If you have the Humana Walmart plan, you should have received a letter from the carrier in September or October explaining that you\\u2019re being rolled over into what\\u2019s called Humana Premier plan and the premiums are going to be around $56 to $60 per month depending on where you live. This is a very high increase specifically because most clients on the Humana Walmart plan are taking only a few generic medications. If you have that plan, you do not have to take that roll over. There are other options out there. You have until December 7th to shop your options which we can help you do at this link: https://www.seniorhealthcaredirect.com/2020-medicare-part-d-finder-form-lead-form/