What are the Medicare changes? This is a common question we get here at Empower Brokerage.
We want to help you understand some of the key differences between Medicare in 2018 and 2019.
Before we show the Medicare changes, let’s recap the parts of Medicare:
Part A
Part A of Medicare is the area that covers Hospital Insurance.
It includes:
- Hospital Care
- Skilled Nursing Facilities
- Hospice
- Home health
- Inpatient care in a religious nonmedical health insurance institution
For a certain number of days, Medicare pays for 100% of the bill for Hospital Care and Skilled Nursing Facilities except for the Part A deductible. However, after that period you are required to pay a copayment for each extra day. For example, hospital visits days 1 through 60 are covered, but after the 60th you must pay Medicare a copayment per day each day that you are there.
Part A Medicare Changes
Listed below are the differences between 2018 & 2019 copayments.
2018 Healthcare Copayments Plans per day
- Part A Deductible: $ 1,340.00 (per benefit period)
- Days 61-90: $335.00
- Days 91-150: $370.00
- Day 151+: All Costs
- Skilled Nursing Facilities (Days 21-100): $167.50
2019 Healthcare Copayment Plans per day
- Part A Deductible: $ 1,364.00 (per benefit period)
- Days 61-90: $341.00
- Days 91-150: $682.00
- Day 151+: All Costs
- Skilled Nursing Facilities (Days 21-100): $170.50
Furthermore, if you have a Plan F, Plan G, or even a Plan N, your Medicare Supplement or Medicare will pay the Part A deductible. These supplements are here to help pay for the required Part A hospital deductibles and copayments. This helps especially since the copayments can increase every year. It should be noted that at the end of 2019, Plan F is going away. Click here for more information.
Before showing the Part B Medicare changes, let’s recap what Part B is:
Part B
This is the branch of Medicare that pays for physicians in or outside of the hospital.
Part B includes:
- Doctors’ Services
- Outpatient Care
- Home Health
- Medical Equipment
- Mental Health
Additionally, Medicare’s Part B deductible is different from Part A. Part B is an annual fee that you must pay before Medicare will pay anything.
Listed below are the Part B Medicare changes in deductibles and premiums from 2018 to 2019.
2018
- Deductible: $183.00
- Premium: 134.00
2019
- Deductible: $185.00
- Premium: $135.50
- Income-Related Monthly Adjustment (IRMAA): $134.00 (<85k) up to $428.00 (>160k)
Part D Medicare Changes
Part D of Medicare covers prescription drugs. The annual deductible for 2019 is $415, as compared to last years which was $405.
Remember to look for the Medicare 2020 changes in either October and November of this year.
Empower Brokerage is dedicated to helping you produce a fruitful 2019-2020 season. Whether it’s through webinar training, one on one calls seminars, or marketing plans we want you to be successful. Give us a call if you have any questions: 888-539-1633.
Another article you may like: https://www.empowerbrokerage.com/a-fresh-look-at-medicare/
