“Medicare premiums, deductibles will Increase slightly in 2021” – AARP

medicare-premiums.imgcache.rev.web.900.518Getty Images

by Dena Bunis

“Medicare premiums and deductibles for Part A and Part B will increase modestly in 2021, the Centers for Medicare and Medicaid Services (CMS) announced Friday. Standard monthly premiums for Part B will cost $3.90 more, rising to $148.50 in 2021, up from $144.60 in 2020.

“Part B deductibles will rise $5 next year to $203, up from this year’s $198.

“Medicare Part B covers doctor visits and other outpatient services, such as lab tests and diagnostic screenings. Premiums for some Medicare enrollees will be higher than the standard because these monthly payments are based on income. Part B beneficiaries with annual incomes greater than $88,000 will pay more ($207.90 for individuals with incomes between $88,000 and $111,000, for example).

“The $3.90 monthly Part B premium increase is less than had been expected earlier this year, when analyses by CMS actuaries indicated that the 2021 Part B premium could increase by as much as $50 a month for some beneficiaries.”

Read this article in its entirety at AARP; click here.

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