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November 08, 2019 at 09:08 PM
The Centers for Medicare and Medicaid Services (CMS) announced today that it will increase Medicare Part B premiums about 6.7% for most enrollees in 2020.
The Medicare Part B program is the part of “Original Medicare” that pays for physician services and hospital outpatient care.
The 2020 increase is up from an increase of just 1.1% in 2019, and up from no increase in 2018.
(Related: Medicare Posts 2019 Rates, Pinches High Earners)
The 2020 increase “is largely due to rising spending on physician-administered drugs,” officials said in the rate announcement. “These higher costs have a ripple effect and result in higher Part B premiums.”
Here’s a look at how the monthly Part B premiums will change, by annual income level:
| Individual Filers | Joint Filers | Total 2020 Monthly Premium Amount | Total 2019 Monthly Premium Amount |
| with income: | with income: | ||
| Less than or equal to $87,000 | Less than or equal to $174,000 | $144.60 | $135.50 |
| Greater than $87,000 and less than or equal to $109,000 | Greater than $174,000 and less than or equal to $218,000 | $202.40 | $189.60 |
| Greater than $109,000 and less than or equal to $136,000 | Greater than $218,000 and less than or equal to $272,000 | $289.20 | $270.90 |
| Greater than $136,000 and less than or equal to $163,000 | Greater than $272,000 and less than or equal to $326,000 | $376.00 | $352.20 |
| Greater than $163,000 and less than $500 000 | Greater than $326,000 and less than $750,000 | $462.70 | $433.40 |
| Greater than or equal to $500,000 | Greater than or equal to $750,000 | $491.60 | $460.50 |
The annual Medicare Part B deductible will increase 7%, to $198. In 2019, the Medicare Part B deductible increased by just 1.1%.
Most people pay for Medicare Part A coverage, or Medicare hospitalization coverage, by paying payroll taxes over the course of their lives.
