The Medicare Part A and Part B programs will have new premiums and deductibles in 2019. Changes were made in October 2018 by the Centers for Medicare & Medicaid Services (CMS). We’ve included the major changes below.
Medicare Part A Costs
For Medicare Part A recipients, your inpatient deductible gets a $24 increase to $1,364. This deductible will cover your share of costs for inpatient hospital services during the first sixty (60) days of your stay.
There will also be a $6 increase in daily coinsurance for days 61 – 90 of your hospitalization during your benefit period. Skilled nursing coinsurance covering days 21 – 100 of extended care increases to $170.50, up $3 from 2018.
Medicare Part B Costs
Your Part B costs will be $135.50 per month, which jumped $1.50 from 2018. Thanks to the statutory hold harmless provision (a part of the law preventing certain beneficiary increases), 3.5% of enrollees will pay less than the regular amount.
The annual deductible also increased $2 to $185; deductibles and premiums Medicare Prescription Drug and Medicare Advantage (Part C) are unaffected by these changes.
Medicare Part D Costs
All Part D plans will require an annual deductible of $415; once that deductible is paid, you’ll cover 25% of the following $3,405 of prescription drug costs ($851.25) while Medicare will foot the remaining 75%.
With an increase in costs, it’s always good to know what you’ll be paying for in advance so you can properly prepare your budget in 2019. You can learn more about Medicare by grabbing a copy of “The Medicare Playbook.”
Wiley Long is founder and president of Medigap Advisors, and is passionate about helping people navigate the confusing waters of Medicare. He is the author of The Medicare Playbook: Designing Your Successful Health Coverage Strategy, a clear and simple explanation so you can make the most of your Medicare coverage. For more information visit www.MediGapAdvisors.com.