Officials Point To Drug Spending For Jump In Medicare’s Part B Premiums
"For people who live with little to no savings, any increase in Medicare premiums or drug costs is going to be a struggle," said Fred Riccardi, president of the Medicare Rights Center.
The Associated Press:
Medicare's Outpatient 'Part B' Premium Going Up To $144.60
Medicare's "Part B" premium for outpatient care will rise by nearly 7% to $144.60 a month next year, officials said Friday. They blamed rising spending on medications. The $9.10 monthly increase follows a smaller $1.50 rise this year. It comes after Social Security announced a modest cost-of-living raise for 2020 that works out to about $24 a month for the average retired worker. (11/8)
Modern Healthcare:
Medicare Premiums And Deductibles To Increase In 2020
Meanwhile, the average deductible for Medicare Part A, which covers inpatient hospital care and services at skilled-nursing facilities, is slated to rise 3.2%, or $44, to $1,408 in 2020. The deductible covers beneficiaries' share of costs for the first 60 days they are in the hospital. After that, beneficiaries must pay coinsurance of $352 per day through the 90th day. About 99% of Medicare beneficiaries don't pay premiums for Part A coverage because they have at least 40 quarters of Medicare-covered employment, the CMS said. (Livingston, 11/8)
In other Medicare news —
Modern Healthcare:
Deadline Looms For Providers To Join Medicare Bundled-Pay Program
The CMS’ late delivery of performance results and the Thanksgiving calendar could reduce provider participation in Medicare’s largest bundled-payment demonstration program. Hospitals and physician groups already participating in the Bundled Payment for Care Improvement Advanced program have until Dec. 1 to decide whether to shrink or expand the number of conditions for which they’ll receive fixed payments covering the entire episode of care. Providers wanting to join the program face the same deadline for selecting from 33 inpatient and four outpatient conditions. (Meyer, 11/9)
