Medicare Deductibles and Premiums Announced by CMS for 2021

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Medicare Deductibles and Premiums Announced by
CMS for 2021
The Centers for Medicare and Medicaid Services
(CMS) announced that it is increasing premium and
deductible costs in the Original Medicare
program. Healthcare costs rise more each year,
and to make up these costs, premiums, and
deductibles for Medicare increase. Medicare
deductibles, premiums, and coinsurance costs are
adjusted annually. Medicare Deductibles and
Premiums Changes Explained Medicare Deductibles
for Part A Medicare Part A is the part of
Medicare that pays for hospitalization, nursing
home, and some home healthcare costs. Medicare
Part A beneficiaries will pay an inpatient
hospital deductible of 1,484 when theyre
admitted to the hospital, up from 1,408 last
year. This amount covers the first 60 days of a
Medicare-covered inpatient hospital stay, after
which a patient will pay a daily coinsurance of
371 per day for days 61 to 90 and 742 per day
for lifetime reserve days. Beneficiaries in
skilled nursing facilities will pay 185.50 per
day in coinsurance for days 21 to 100.
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Medicare Deductibles and Premiums Announced by
CMS for 2021
Medicare Deductibles for Part B Medicare Part B
covers physician fees, outpatient services, some
home health services, medical equipment, and some
medications. This year, the annual Medicare Part
B medical insurance deductible increased from
198 in 2020 to 203 in 2021. After meeting your
deductible, youll pay 20 coinsurance for the
Medicare-approved cost of most doctor services,
outpatient therapy, and durable medical
equipment. Medicare Advantage The cost of
Medicare Advantage deductibles varies based on
the plan a beneficiary chooses and the zip code
in which they live. Medicare Deductibles for
Part D Medicare Part D is known as the
prescription drug plan for Medicare. Yearly
deductibles for Medicare Part D prescription drug
plan varies by provider, and some policies dont
charge a deductible at all. Still, no drug plan
can charge more than 445 in 2021, up from 435
last year.
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Medicare Deductibles and Premiums Announced by
CMS for 2021

• Medigap
• Most Medigap policies typically dont have their
  own deductible. However, Plan F, Plan G, and Plan
  J (all high-deductible options) will have a
  2,370 annual deductible.
• COVID-19 Vaccines
• CMS adjusted coverage to allow comprehensive,
  affordable coverage due to the coronavirus
  (COVID-19). Medicare would cover 100 of the cost
  of COVID-19 vaccines approved by the Food and
  Drug Administration. There is no need to pay a
  deductible or coinsurance for vaccine
  administration. Medicare Part B, Medicare Part D,
  and Medicare Advantage plans all cover vaccines
  at no additional cost. Currently, coverage
  includes
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• Testing for coronavirus with no out-of-pocket
  costs
• All medically necessary hospitalizations related
  to coronavirus
• A vaccine for coronavirus, should one become
  available (covered by all Medicare Part D plans)
• Medicare expansion of telehealth services and
  virtual visits to increase access and meet
  patient needs due to the Public Health Emergency
  created by COVID-19
• Waiver of the requirement that patients have a
  3-day hospital stay before entering a nursing
  home to clear hospital resources for more
  critically ill patients

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Medicare Deductibles and Premiums Announced by
CMS for 2021
Keeping a close eye on such policy changes is
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