Medicare Announces Costs, Part B Premium for 2021
The Centers for Medicare and Medicaid announced the Medicare costs for 2021.
The standard monthly premium for Part B, medical insurance, will be $148.50, an increase of $3.90. Higher-income beneficiaries pay an additional adjustment, based on income. (Learn more in the 65 Incorporated Library at www.65incorporated.com/topics/paying-more-medicare.)
For those on Original Medicare, here are some costs for 2021:
- Inpatient hospital stay, days 1-60—a deductible of $1,484 per benefit period, an increase of $76. The coinsurance for days 61-90 is $371 per benefit period, up from $352 in 2020.
- Skilled nursing facility stay, days 21-100—a copayment of $185.50 per day, a $8.90 increase. There is no copayment for the first 20 days.
- The Part B deductible will increase to $203 from $198.
Medicare Advantage plans establish the copayments and coinsurance for hospitalization and skilled nursing facility stays. Those with Advantage plans must pay the standard Part B premium.
Source: Medicare.govLast updated: 12-01-2020