I’m impressed! For the majority of Medicare beneficiaries, the government has kept increases to a minimum for 2019 that is, unless you make more money. If you’re in that ballgame, you’re going to get a hefty increase (see below). The STANDARD monthly premium for Medicare Part B enrollees will be $135.50 for 2019, only an increase of $1.50 from $134 in 2018. Medicare Part B covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and certain other medical and health services not covered by Medicare Part A. More Medicare announcements:
PART B ANNUAL DEDUCTIBLE INCREASE:
The annual deductible for Medicare Part B beneficiaries is $185 in 2019, an increase of $2 from the annual deductible $183 in 2018.
PART B ANNUAL INCOME RELATED MONTHLY ADJUSTMENT AMOUNTS (IRMAA) INCREASE:
No one wants to date IRMAA 🙂 Your Part B monthly premium is based on your income (MAGI). IRMAA affects roughly 5 percent of people with Medicare Part B.
| Beneficiaries who file individual tax returns with income: |
Beneficiaries who file joint tax returns with income: |
Income-related monthly adjustment amount | Total monthly premium amount |
| Less than or equal to $85,000 | Less than or equal to $170,000 | $0.00 | $135.50 |
| Greater than $85,000 and less than or equal to $107,000 | Greater than $170,000 and less than or equal to $214,000 | $54.10 | $189.60 |
| Greater than $107,000 and less than or equal to $133,500 | Greater than $214,000 and less than or equal to $267,000 | $135.40 | $270.90 |
| Greater than $133,500 and less than or equal to $160,000 | Greater than $267,000 and less than or equal to $320,000 | $216.70 | $352.20 |
| Greater than $160,000 and less than $500,000 | Greater than $320,000 and less than $750,000 | $297.90 | $433.40 |
| Greater than or equal to $500,000 | Greater than or equal to $750,000 | $325.00 | $460.50 |
Premiums for high-income beneficiaries who are married and lived with their spouse at any time during the taxable year, but file a separate return, are as follows:
| Beneficiaries who are married and lived with their spouses at any time during the year, but who file separate tax returns from their spouses: | Income-related monthly adjustment amount | Total monthly premium amount |
| Less than or equal to $85,000 | $0.00 | $135.50 |
| Greater than $85,000 and less than $415,000 | $297.90 | $433.40 |
| Greater than or equal to $415,000 | $325.00 | $460.50 |
PART A PREMIUM:
Most people that have 40 quarters of coverage with Social Security, will not pay a Part A premium. If you do not qualify (immigrant to the US, worked a job that does not pay into Social Security, did not report your income, etc.), you can buy Part A. If you are age 65 and over and have FEWER than 40 quarters of coverage and certain persons with disabilities can elect to pay a monthly premium for Medicare Part A of $437/mo in 2019.
Individuals who had at least 30 quarters of coverage or were married to someone with at least 30 quarters of coverage may buy into Part A at a reduced monthly premium rate, which will be $240 in 2019.
PART A DEDUCTIBLE:
The Medicare Part A inpatient hospital deductible will be $1,364 in 2019. Medicare Part A covers inpatient hospital, skilled nursing facility, and some home health care services. About 99 percent of Medicare beneficiaries do NOT pay a Part A premium since they have at least 40 quarters of Medicare-covered employment.
|
Part A Deductible and Coinsurance Amounts for Calendar Years 2018 and 2019 |
||
| 2018 | 2019 | |
| Inpatient hospital deductible | $1,340 | $1,364 |
| Daily coinsurance for 61st-90th Day | 335 | 341 |
| Daily coinsurance for lifetime reserve days | 670 | 682 |
| Skilled Nursing Facility coinsurance | 167.50 | 170.50 |
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