Portfolio Solutions® has continued to expand the information we provide you as well as our services to offer even more value to our clients. Do you have questions regarding your Medicare insurance premiums, deductibles, or coinsurance? Here's a look at some of the costs that will apply in 2019 if you're enrolled in Original Medicare (Part A and Part B).
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Medicare Part B Premiums
According to the Centers for Medicare & Medicaid Services (CMS), most people with Medicare who receive Social Security benefits will pay the standard monthly Part B premium of $135.50 in 2019. However, if your premiums are deducted from your Social Security benefits, and the increase in your benefit payments for 2019 will not be enough to cover the Medicare Part B increase, then you may pay less than the standard Part B premium.
People with higher incomes may pay more than the standard premium. If your modified adjusted gross income as reported on your federal income tax return from two years ago is above a certain amount, you'll pay the standard premium amount and an Income Related Monthly Adjustment Amount (IRMAA), which is an extra charge added to your premium, as shown in the following table.
Other Medicare Costs
Other Medicare Part A and Part B costs in 2019 include the following:
- The annual Medicare Part B deductible for Original Medicare is $185.
- The monthly Medicare Part A premium for those who need to buy coverage will cost up to $437. However, most people don't pay a premium for Medicare Part A.
- The Medicare Part A deductible for inpatient hospitalization is $1,364 per benefit period. An additional daily coinsurance amount of $341 will apply for days 61 through 90, and $682 for stays beyond 90 days.
- Beneficiaries in skilled nursing facilities will pay a daily coinsurance amount of $170.50 for days 21 through 100 in a benefit period.
As always, we hope you find this information useful. If you have any questions or would like to learn more, contact Portfolio Solutions® at (800) 448-3550.
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