Important Medicare changes in 2020

1. Important Medicare Changes In 2020 If you are enrolling in Medicare this year, you must understand some significant changes that are happening to Medicare in 2020.There are four big changes happening in 2020: 1: As you all know, most of you will pay nothing for Medicare Part A premiums, because you qualify through working at least 40-quarters. You have been “pre-paying” Part A premiums through payroll taxes. However, Medicare Part B is a different story. 2: Additionally, the deductible for Medicare Part B is increasing. In 2019, the Part B deductible was $185, and now in 2020, it increased to $198. With all of this said, these increases will depend on which plan you have, whether it’s Original Medicare or Medicare Advantage, it may or may not impact you. 3: With all the changes to Part B, there is also a change to people who have higher incomes. The rule for 2020 states if your modified adjusted gross income is more than $87,011 filing as an individual, or $174,001 filing taxes as a couple, you will pay more for Medicare. This is slightly higher than the 2019 threshold. 4: Plan F is no longer available for people to join as of January 1, 2020. I talk about how this works in detail on my workshop and why this isn’t necessarily a bad thing, but if you were set on Plan F, you will need to find a different option. Source:themedicarecoach.com www.capitalbluemedicare.com