In September and October, the Centers for Medicare and Medicaid Services (CMS) announced the 2019 Medicare premiums and deductibles for Original Medicare and Medicare Advantage plans. Understanding the 2019 Medicare changes is important to provide your beneficiaries with the best coverage for their needs and budget.
CMS announced the 2019 Medicare deductibles and premiums increase on October 12, 2018. This announcement only impacts Part B premiums and Part A and B deductibles.
The Part A inpatient hospital deductible will increase from $1,340 to $1,364. The Part B deductible will increase $2, from $183 to $185.
Part B premiums are expected to increase by $1.50 in 2019, from $134 to $135.50. However, this increase will not affect every beneficiary. Roughly 3.5% of beneficiaries will have premiums less than $135.50 due to the Social Security “hold harmless provision.” This prevents the increased premiums to exceed the increase in Social Security benefits. Plus, if a beneficiary makes more than $85,000 a year, they may pay more than $135.50, and their premium will be adjusted by their income. The income-based 2019 premiums for Part B are as follows:
In September, CMS announced that on average, Medicare Advantage premiums will decrease 6%, from $29.81 to $28. This is great news for agents like you selling Medicare Advantage plans. Enrollment in MA plans has continued to grow, and enrollment will hit an all-time high in 2019 with an estimated 22.6 million beneficiaries. As enrollment continues to increase, plan selection and variety increase too, with approximately 600 new plans offered in 2019!
At Senior Market Advisors, we make sure our agents are prepared and confident to sell regardless of new policies or costs. We offer a lead management system, online sales training, an experienced in-house marketing team, top-tier commission, and so much more! Ready to contract? Visit agentcontract.com to start digitally contracting, or click here to get in touch with one of our agent advisors.