When Medicare became the primary health insurance, everyone needed to know if they would have to make financial adjustments to cater for these costs. One of the questions that eligible members commonly ask is how much will it cost them to take up the cover? The discussion about Medicare cost becomes paramount because health always comes first.
Like private health insurance, Medicare comes with premiums, co-pays, and deductible costs. This means that the total amount you will pay per year can, and often does, change. Sometimes it will be higher, and other times it is relatively lower. Of course, this varies depending on your history, your income and the current rate of inflation.
The topic is an expansive one, and a lot could be said about whether or not it is the best form of healthcare everyone needs. However, we will have a closer look at the Medicare cost in 2019 for Part A, B, C, and D and talk a little about covering the gaps between the plans.
The Medicare Cost for 2019 will be:
Finally released on October 12th of 2018, the standard monthly premium for people enrolling in Medicare Part B will be $135.50 for 2019. According to CMS.gov:
“The standard monthly premium for Medicare Part B enrollees will be $135.50 for 2019, an increase of $1.50 from $134 in 2018. An estimated 2 million Medicare beneficiaries (about 3.5%) will pay less than the full Part B standard monthly premium amount in 2019 due to the statutory hold harmless provision, which limits certain beneficiaries’ increase in their Part B premium to be no greater than the increase in their Social Security benefits. The annual deductible for all Medicare Part B beneficiaries is $185 in 2019, an increase of $2 from the annual deductible $183 in 2018. Premiums and deductibles for Medicare Advantage and Medicare Prescription Drug plans are already finalized and are unaffected by this announcement.”
Medicare 2019 Deductibles
Medicare Advantage Plan Cost in 2019
Medicare Advantage Plans and their cost will vary widely around the country for 2019. As we always recommend, it’s wise to shop your coverage every year as it appears no one is safe keeping their doctor with an Advantage plan. This was just realized with a case in Austin, TX where United Healthcare and Austin Regional clinic (ARC) decided to end their agreement for members effective October 1st 2019. Members received a letter stating they would no longer be able to use their doctor at ARC after this date. In the past any major changes such as this would not go into effect until January 1st of the following year, however this is not the case.
Due to the wide array of options and premium differences in Medicare advantage plans around the country, it’s best to get help from those well experienced in those plans. Simply call the number below to get help choosing a Medicare Advantage Plan for 2019.