Medicare Part B Premiums Going Up
The monthly premium for outpatient care will go up by $3.90 next year to $148.50. The increase will claim a significant slice of retirees' Social Security cost-of-living adjustment; it works out to nearly 20% of the average retired worker’s COLA of $20 a month next year, the AP reports.
Modern Healthcare:
Medicare Premiums To Rise Slightly In 2021
Seniors with traditional Medicare plans will see a slight increase in their 2021 monthly premiums, CMS said Friday. Monthly premiums for Medicare Part B will rise 2.7% to $148.50 in 2021 from $144.60 in 2020. Those fees cover doctors' appointments, and outpatient hospital care as well as other services. Deductibles will see a similar 2.5% rise, from $198 to $203. (11/6)
AP:
Medicare's 'Part B' Outpatient Premium To Rise By $3.90
Medicare’s ‘Part B’ monthly premium for outpatient care will go up by $3.90 next year to $148.50, officials announced late Friday afternoon. For most retirees, the health care cost increase will claim a significant slice of their Social Security cost-of-living adjustment, or COLA. It works out to nearly 20% of the average retired worker’s COLA of $20 a month next year. (11/7)
CNBC:
Medicare Part B Premiums Will Rise By 2.7% In 2021
The $3.90 increase is 2.7% more than the 2020 figure of $144.60, according to information released by the Centers for Medicare and Medicaid Services. The deductible for Part B, which covers outpatient care, durable equipment and some other services, will be $203 next year, up $5 from $198 in 2020. Meanwhile, the deductible for Medicare Part A (hospital coverage), which is per benefit period (which generally starts when you are admitted to the hospital) will be $1,484 in 2021, up $76 from this year’s $1,408. (O'Brien, 11/6)
In other Medicare news —
Palm Beach Post:
Residents Say They - And Medicare - Were Duped By COVID Testing
In early August, Kerr received an Explanation of Benefits (EOB) from Medicare. She was shocked to see that unauthorized blood work had been done that included testing for sex hormones and venereal disease. Medicare was charged $10,368; it paid $895. Both figures are about 10 times what a company would have billed and received from Medicare for COVID and antibody testing. (Diamond, 11/7)
MarketWatch:
How To Compare Medicare Advantage Plans
You may have heard of Medicare Advantage Plans, but do you know how to shop for one (or how they fit into the Medicare universe)? Medicare Advantage Plans are an “all-in-one” alternative to Original Medicare — meaning they replace Medicare Part A (hospital coverage), Medicare Part B (medical insurance) and often Medicare Part D (drug coverage). Also known as Medicare Part C or MA Plans, they’re offered by private insurers that have been approved by Medicare. Most plans offer additional benefits that aren’t covered under Original Medicare, which may include dental, hearing and vision coverage. You’ll probably be required to stick with doctors in the plan’s network, but out-of-pocket costs may be lower. (Ashford, 11/9)
