The Medicare Part B premium for out-patient care will rise by about 7% to $144.60 for 2020. This is in addition to the $1.50 increase that was implemented earlier in 2019. This new increase adds $9.30 a month to the Medicare Part B premium. Social Security announced a cost of living raise for 2020 that amounts to approximately $24.00 a month. However, this raise is decreased by the increase in the Medicare Part B premium.
The increase in the premium is blamed on the increasing cost of drugs administered in doctors’ offices. These drugs are paid for under the out-patient services category and do not count under Part D.
The Medicare Part B deductible will also increase in 2020 by $13.00 to $198.00.
The Medicare Part A in-patient deductible will increase by $44.00 to $1408.00 in 2020.
Excerpted from the Cleveland Plain Dealer November 10, 2019 Section A.