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Medicare - Looking ahead in 2020

If you are eligible for Medicare in 2020 or have had a Medicare health care plan for many years, the changes established within Medicare for 2020 may affect you. Here are some changes that took effect starting January 1, 2020.

Approximately 1% of Medicare Part A enrollees pay premiums; most do not pay a premium for Part A because they (or their spouse) have at least a 10-year work history and have paid payroll taxes to qualify for it premium-free.   If you do not get Part A premium-free, you pay $458 each month.

Anyone who turns 65 on or after January 1, 2020, will not be able to purchase Medicare Supplement Plan F or Plan C.  Anyone enrolled in a Medigap Plan C or Medigap Plan F as of December 31, 2019, is considered to be “grandfathered” and able to continue with their plan.

The gap in Medicare Part D drug plans is often referred to as the “Donut Hole.”  This means there's a temporary limit on what the drug plan will cover for drugs. This year the limit is $4,020. Not everyone will enter the coverage gap but if you do, the gap will begin after you or your drug plan have spent a certain amount for covered drugs.  Part D plan beneficiaries pay 25% of their brand name and generic drug costs while they're in the coverage gap.  The Medicare Part D donut hole has been closing in recent years due to provisions in the Affordable Care Act (ACA), also known as Obamacare.

In Summary:

Part A premium will be $458 - Free if you've worked 10+ years - $252 if you've worked 7.5-10 year.

Part A Hospital deductible - $1,408 each benefit period

Part B premium will increase to $144.60

Part B deductible will rise to $198

Part D maximum deductible is $435 per year

Supplement Plan F and Plan C will no longer be available to those who became eligible on or after January 1, 2020

Medicare will begin closing the Medicare Part D Donut Hole in 2020

If you have questions regarding your Medicare Plan or any of the changes to Medicare in 2020, please call our office at 866-MEDIGAP or email info@seniorhealthcaresolutions.com.  We are here for you!