2021 Medicare Premiums & Deductibles

by David Mordo
2021 Medicare Premiums & Deductibles

On November 6, 2020, the Centers for Medicare & Medicaid Services (CMS) released the 2021 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs.

Medicare Part B covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and certain other medical and health services not covered by Medicare Part A. The Medicare Part B monthly premiums and the annual deductible will be higher than the 2020 amounts. The standard monthly premium for Medicare Part B enrollees will be $148.50 for 2021, an increase of $3.90 from $144.60 in 2020.

The annual deductible for all Medicare Part B beneficiaries will be $203 in 2021, an increase of $5 from the annual deductible of $198 in 2020. Part B monthly premiums are based on a person’s income. The income-related monthly adjustment amounts affect roughly 7% of people with Medicare Part B. The 2021 Part B total premiums for high-income beneficiaries are shown below:
 

Beneficiaries who file indv. tax returns with income Beneficiaries who file joint tax returns with income Income-related monthly adjustment amount

Total monthly premium amount

Less than or equal to $88,000 Less than or equal to $176,000 $0.00 $148.50
Greater than $88,000 and less than or equal to $111,000 Greater than $176,000 and less than or equal to $222,000 $59.40 $207.90
Greater than $111,000 and less than or equal to $138,000 Greater than $222,000 and less than or equal to $276,000 $148.50 $297.00
Greater than $138,000 and less than or equal to $165,000 Greater than $276,000 and less than or equal to $330,000 $237.60 $386.10
Greater than $165,000 and less than $500,000 Greater than $330,000 and less than $750,000 $326.70 $475.20
Greater than or equal to $500,000 Greater than or equal to $750,000 $356.40 $504.90


The Medicare Part A inpatient hospital deductible that beneficiaries will pay when admitted to the hospital will be $1,484 in 2021, which is an increase of $76 from $1,408 in 2020. In 2021, beneficiaries must pay a coinsurance amount of $371 per day for the 61 st through 90 th day of a hospitalization ($352 in 2020) in a benefit period and $742 per day for lifetime reserve days ($704 in 2020).
 

Part A Deductible & Coinsurance Amounts
Type of Cost Sharing 2020 2021
Inpatient Hospital Deductible $1,408.00 $1,484.00
Daily Coinsurance for 61st - 90th Day $352.00 $371.00
Daily Coinsurance for Lifetime Reserve Days $704.00 $742.00
Skilled Nursing Facility Coinsurance $176.00 $185.50
 
 

Get More from Healthcare Exchange

Subscribe today to stay up-to-date on the latest healthcare reform news, tools and resources.



© 2020 BenefitMall. All rights reserved. BenefitMall, the BenefitMall Logos, and NEXT GENERATION BROKER SERVICES are trademarks or registered trademarks of Centerstone Insurance and Financial Services, Inc. d/b/a BenefitMall or its affiliates in the U.S. California License #0639679. *All other trademarks are the property of their respective owners.