Are you happily living a tension free life being covered by Medicare? Well, here’s a note for you. Just be ready to pay a bit more premium from the next year.
The standard rate of $134 in 2018 will go upto $135.50 in 2019. The new rates were unveiled on Friday by The Centers for Medicare and Medicaid Services. This announcement was a result of the setting up of a 2.8% cost-of-living adjustment by the Social Security Administration.
Source- AARP
Another thing to be noted that around 3.5 percent of the total Medicare beneficiaries will pay slightly less than $135.50. This is because of the “hold harmless” provisions which protect certain beneficiaries from paying more for their Part B premiums. The deductible rate for the Part B beneficiaries will be $185 per year.
Part B beneficiaries get the additional benefits of service related to physicians, medical equipment, home health and outpatient hospitals. The hospital admittance also will be going upto $1,364 in 2019 compared to the previous $1,340 in 2018.
Source- CNBC.com
