The Medicare Part B premium for outpatient 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 outpatient 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.
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Excerpted from the Cleveland Plain Dealer November 10, 2019 Section A.