Medicare premiums are set to rise modestly in 2021. On November 6th, 2020 The Centers for Medicare and Medicaid Services (CMS) announced the premium and other Medicare cost increase. Despite COVID-19 and the financial impact it had on 2020, costs are only set to increase by a small amount of $3.90.
Here are all the new Medicare payment figures:
• Part B premium: $148.50 (was $144.60)
• Part B deductible: $203 (was $198)
• Part A deductible: $1,484 (was $1,408)
• Co-payment for hospital stay days 61-90: $371/day (was $352)
• Co-payment for hospital stay days 91 and beyond: $742/day (was $704)
• Skilled nursing facility co-payment, days 21-100: $185.50/day (was $176)
ElderLawAnswer released an article on this increased pricing.