The Centers for Medicare & Medicaid Services (“CMS”) has announced the deductibles, premiums and coinsurance amounts for Medicare Part A and Part B for 2021. Medicare Part A covers inpatient hospital and hospice care, while Part B covers outpatient services such as doctors’ visits.
The Part A deductible for inpatient hospital expenses will be $1,484 in 2021 (an increase of $76 from $1,408 in 2020). In 2021, beneficiaries must pay a coinsurance amount of $371 per day ($352 in 2020) for the 61st through 90th day of hospitalization, while hospital stays over 90 days will cost $742 per day ($704 per day in 2020). The daily coinsurance for the 21st to 100th day of extended care services in a skilled nursing facility will cost $185.50 in 2021 ($176 in 2020).
The annual deductible for all Medicare Part B beneficiaries is $203 in 2021 (an increase of $5 from the annual deductible of $198 in 2020). The standard Medicare Part B monthly premium for 2021 will, for most individuals, be $148.50 (an increase of $3.90 from $144.60 in 2020). As required by the Medicare Modernization Act, single beneficiaries with incomes over $88,000 and married couples with incomes over $176,000 will pay higher Medicare Part B premiums, based on a sliding scale.
