Changes To Medicare Premiums In 2020

Medicare Premium Differences in 2020

Medicare premiums are on the rise. For seniors living on a retirement income, it’s important to know where the increase in cost is coming from. More importantly, it’s essential to learn how you can keep your monthly premiums as low as possible without sacrificing quality healthcare coverage. We will provide a cost breakdown for 2020 and will help you determine how you can save while still ensuring maximum coverage.

Medicare Deductibles 2020

Original Medicare comes in four parts – Part A, B, C, and D.

Part A: Covers hospital stays and expenses. Part A is automatically applied to anyone with Medicare.

Part B: Covers doctor expenses. Part B is optional but highly recommended.

Part C: Covers hospital, doctor, and often prescription drugs. Part C is optional, known as Medicare Advantage, and may help reduce overall healthcare costs.

Part D: Covers prescription drugs. Part D is optional but highly recommended.

Part B, C, and D all have deductibles.

Part A is usually free unless the person applying has worked less than 30 quarters and did not contribute to social security payments.

All premiums are adjusted based on income and change yearly. For 2020, all premiums will increase regardless of your income bracket.

Cost Adjustments

Here is a brief look at changes from 2019 to 2020 Medicare costs.

Part	2019 Cost	2020 Cost
Part A Premium	Usually free*	Usually free*
Part A Deductible	$1,364 deductible per benefit period	$1,408 deductible per benefit period
Part A Coinsurance per benefit period	Days 1-60: $0 per day	Days 1-60: $0 per day
	Days 61-90: $341 per day	Days 61-90: $352 per day
	Days 91+: $682 per “lifetime reserve” day up to 60 days	Days 91+: $704 per “lifetime reserve” day up to 60 days
	After lifetime reserve: All costs	After lifetime reserve: All costs
Part B Premium	$135.50+	$144.60+
Part B Deductible	$185	$198
Part B Coinsurance per benefit period	20% after deductible is met	20% after deductible is met
Part C Premium	Varies by plan	Varies by plan
Part D Premium	Varies by plan	Varies by plan

 *To qualify for free Part A Medicare coverage, an individual must have worked and contributed payment toward social security benefits for a minimum of 30 quarters or 7.5 years.

Medicare Part B Premiums 2020

Knowing how much you’ll be expected to pay for healthcare premiums is important when living on a fixed income. To determine the cost of your Part B premium you’ll need to check your 2018 tax information, as your income from two years prior determines 2020 premium costs.

If your yearly income for 2018 was:			Your 2020 premium will be:
Individual filing	Married filing jointly	Married filing separately
$87,000 or less	$174,000 or less	$87,000 or less	$144.60
$87,001 to $109,000	$174,001 to $218,000	N/A	$202.40
$109,001 to $136,000	$218,001 to $272,000	N/A	$289.20
$136,001 to $163,000	$272,001 to $326,000	N/A	$376.00
$163,001 to $499,999	$326,001 to $649,999	$87,001 to $412,999	$426.70
$500,000 +	$750,000 +	$413,000 +	$491.60

 

Part D Premium 2020

The same rules apply for your Part D coverage. Premium costs are associated with your 2018 tax return and vary by plan. The change for 2020 is that, depending on your income level, you will cover the cost of your Part D premium in addition to a surcharge. A higher income results in a greater surcharge. Here is a general estimate:

If your yearly income for 2018 was:			Your 2020 Premium will be:
Individual filing	Married filing jointly	Married filing separately
$87,000 or less	$174,000 or less	$87,000 or less	Plan premium only
$87,001 to $109,000	$174,001 to $218,000	N/A	Plan premium + $12.20
$109,001 to $136,000	$218,001 to $272,000	N/A	Plan premium + $31.50
$136,001 to $163,000	$272,001 to $326,000	N/A	Plan premium + $50.70
$163,001 to $499,999	$326,001 to $649,999	$87,001 to $412,999	Plan premium + $70.00
$500,000 +	$750,000 +	$413,000 +	Plan premium + $76.40

 

Income Changes

If changes in your income have occurred, call the Social Security office and submit proper documentation so you won’t have to pay more than necessary. Applicable changes include:

• Marriage, divorce, or widowhood.
• One or both parties stop working or reduce working hours.
• Loss of income-producing property due to natural disaster or another uncontrolled event.
• One or both parties experience ceasing, termination, or reorganization of an employer’s pension plan.
• One or both parties receive a settlement from an employer or former employer due to an employer’s business closing, bankruptcy, or reorganization.

Ways To Save On Medicare Costs

If you’re one of the 7.5 million seniors struggling to afford healthcare necessities like prescription drug coverage, there are savvy ways to save.

Medicare Advantage or Part C

Original Medicare Parts A and B only cover hospital and doctor fees, as seen in the first chart in this article. Unfortunately, this means necessities such as vision, dental, and hearing coverage are not included. If you want a prescription drug plan, you’ll need to purchase a separate plan, either Part D or a Medicare Advantage plan.

With a Medicare Advantage plan, you apply for Part A and B coverage, pay for it together and often receive extras such as vision, dental, and drug coverage. Here’s a snapshot of plan differences between Original Medicare and Medicare Advantage in 2020.

	ORIGINAL MEDICARE	MEDICARE ADVANTAGE
Coverage	Part A and B	Part A, B, D + vision, dental, and hearing*
Maximum Out-of-Pocket Costs	No Maximum on OOP costs	Yearly limit on OOP costs. After OOP limit, members pay nothing.
Doctors and Hospitals	Any doctor or hospital that accepts Medicare	Doctors and hospitals in your plan’s network. Out-of-network doctors and hospitals may incur higher costs.
Premiums	Part A – No premium Part B – Around $144.60+/mo.	Part B – Around $144.60+/mo. + plans start as low as $0/mo.
Deductibles	Part A – Around $1,408 Part B – Around $198	Deductibles and copays vary
Prescription Drug Coverage	Must purchase Part D or standalone drug coverage	Varies by plan

*Not all Medicare Advantage plans cover vision, dental, and hearing.

The biggest savings when choosing a Medicare Advantage plan is the included extras such as vision, dental, hearing, and drug coverage. Often, your Medicare Advantage premium will cost less than if you purchased Part A, B, D, and a hearing or vision plan individually.

Choose Medicare Plans 2020

Choosing the right Medicare plan for your health care is an important step to ensure a healthy and fulfilling future. Making a choice doesn’t have to be overwhelming or complicated. Talk with a Medicare advisor to determine which plan and cost are right for you.

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George Mason University Appoints Its First African American President

This week, George Mason University made history in selecting its new president. Gregory Washington will serve as the university’s first African American president in the school’s history. He replaces interim president Anne Holton, who took office last year after former president Angel Cabrera left.

Washington is currently the dean of the Henry Samueli School of Engineering at the University of California, Irvine. During his time there, Washington hired one of the most diverse engineering faculty cohorts in the country–more than 40% of his hires consisted of women or underrepresented minority groups. He also established one of the nation’s first STEM ecosystems, OC STEM. He earned his bachelor’s, master’s, and doctoral degrees from North Carolina State University.

“What attracted me to Mason was its reputation for having real impact, providing access, and for its commitment to inclusive excellence, ” Washington said in a statement. He will join the university on July 1.

The university is excited about the move and looking to bring more diversity to the overall faculty.

“George Mason University is not this sleepy institution in Northern Virginia,” Professor Dr. Wendi Manuel-Scott told Diverse: Issues in Higher Education. “We are a premier research institution that doesn’t just talk about diversity, that doesn’t just talk about inclusion, but rather it really is who we are, from the way in which we think about space—creating a memorial to the enslaved people George Mason held—to the types of programs, majors, and departments we have to support our students in their research and professional goals, to naming the first African American president.”

Julian Williams, George Mason University’s vice president of inclusion and diversity, heard his phone “blow up” with messages from faculty, staff, and students after the announcement. “This is just an awesome day for the institution,” he told Diverse: Issues in Higher Education. “Folks are excited.”

“He showed tremendous vision for the future of our region and how we fit in and displayed the ability to motivate and inspire our community,” GMU Rector Tom Davis of the board of visitors said in a press release. “I look forward to working with him and seeing him position Mason as a leader in higher education.”

George Mason University is one of the most diverse universities in the state of Virginia with a student body of over 39% first-generation students with 33% Pell-eligible.

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R. Kelly receives default judment in latest sexual abuse civil lawsuit

R. Kelly has defaulted on a civil lawsuit filed by a woman who claims to have had a sexual relationship with the singer that started when she was 16.

Chicago Judge Moira S. Johnson on Tuesday ruled that Kelly’s failure to appear in court to answer to the claims constituted a default. The plaintiff, Heather Williams, alleges in the suit that she met Kelly on a Chicago street and that he took her to a music studio and told her he would put her in one of his videos. Instead, Williams claims the R&B singer lured her into having sex with him in 1998 when she was just 16, according to Rolling Out.

READ MORE: R. Kelly faces new sexual abuse charges ahead of April trial

Johnson set a final hearing date for March 10, 2020.

Initially, a default judgment was granted months ago after Kelly failed to respond to the complaint. However, his former attorneys successfully argued for that order to be vacated, alleging that although the singer was served with papers in jail, he couldn’t read them.

Kelly, whose birth name is Robert Sylvester Kelly, is currently in jail awaiting trial on multiple child sexual abuse charges. He has never shown up in court to answer to Williams’ allegations.

The default ruling is the latest blow to hit the “Ignition” singer.

Last week, Kelly’s former Chicago landlord filed a lawsuit against the singer, saying Kelly owes $3.4 million in back rent for his studio space, according to Page Six.

And on Feb. 14, Kelly was hit with new federal charges that he raped another minor, starting when she was 14 or 15 years old, Page Six wrote. Kelly is expected to be arraigned on the new charges on March 5, 2020.

READ MORE: R. Kelly’s ex-girlfriend Azriel Clary reportedly working with Federal authorities

Kelly’s Chicago trial is slated to start in April on charges of creating and possessing child pornography and sexual exploitation of minors.

Kelly is also expected to appear in a Brooklyn, New York court in July to face racketeering, sex-trafficking and bribery charges, according to Rolling Out.

The post R. Kelly receives default judment in latest sexual abuse civil lawsuit appeared first on TheGrio.

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Finding Friendship With My Boyfriend's Ex Freed Me From His Abuse

I gaze upon myself in the mirror and I am both enamored and inspired by what I see: The woman staring back in my reflection looks strong, confident and empowered. She has been through hell and back, but you can barely even tell because she looks so at peace and empowered. The gems on her Yuma Carnival costume glitter…

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Catherine Pugh, former Baltimore mayor, receives three-year federal sentence

Catherine Pugh, the former mayor of Baltimore, was sentenced to three years in prison on federal conspiracy and tax evasion charges centered on her self-published children’s book series.

Before her sentence was handed down, Pugh, 69, tearfully apologized “to anyone I have offended or hurt through my actions” and asked Judge Deborah K. Chasanow to show mercy. Pugh said although she had “turned a blind eye” and “sanctioned things I should not have,” she never intended to harm anyone, according to The Baltimore Sun.

READ MORE: Former Baltimore mayor, Catherine Pugh, enters guilty pleas

Chasanow called Pugh’s crimes “astounding” and said she took advantage of her office to mislead organizations into buying her “Healthy Holly” books.

“I have yet frankly to hear any explanation that makes sense,” Chasanow said, according to The Baltimore Sun. “This was not a tiny mistake, lapse of judgment. This became a very large fraud. The nature and circumstances of this offense clearly, I think, are extremely, extremely serious.”

Pugh, who had previously served elected positions in Baltimore for more than 20 years, sold her children’s books to non-profits and foundations, in part to help fund her political career.

The most egregious was a no-bid deal with the University of Maryland Medical System, where Pugh sold 100,000 copies of her books for $500,000, reported The Sun. At the time, Pugh also sat on the board of directors for the medical system. Prosecutors said she sold more than $850,000 in books in total.

In addition to the three-year prison sentence, Chasanow sentenced Pugh to three years of probation. The judge also ordered Pugh to pay $400,000 in restitution to the medical system and nearly $12,000 to the Maryland Auto Insurance Fund, which also bought some of Pugh’s books. The court will also seize nearly $670,000 from Pugh, which includes her Ashburton home and $17,800 from her campaign account, and the remaining of her “Healthy Holly” books were ordered destroyed.

Pugh’s attorney, Steve Silverman, said the sentence was fair and thinks Pugh will be out of prison in about 18 months, under the new First Step Act, which strives to reduce the federal prison population.

READ MORE: Despite calls for her resignation, Baltimore Mayor Catherine Pugh says she plans to return

Pugh seemed stunned by the verdict, according to The Baltimore Sun. More than 70 people had written letters to Chasanow on her behalf, including former Democratic Mayor Kurt Schmoke, former Democratic U.S. Rep. Kweisi Mfume, and Morgan State University President David Wilson.

Pugh wasn’t imprisoned right away. She has until mid-April to report.

The post Catherine Pugh, former Baltimore mayor, receives three-year federal sentence appeared first on TheGrio.

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