Currently, right now, floating around in Congress is a bill that would actually cap the increase on Medicare Part B premiums in 2021. The bill has made its way through the house and it’s now in the Senate, and it would put a 25% cap on the Medicare Part B premium increase.
As many of you are aware, oftentimes each year that Medicare Part B premium goes up, and in April the Medicare Trustees released a statement that estimated the Medicare Part B premium for 2021 would increase from 144.60 this year, in 2020, to 153.30 in 2021. Now again, this is not confirmed yet. It’s just an estimate.
However, with COVID-19 and everything that’s occurred, there’s a lot of questions about that. Just recently the other day, I did a video talking about the cost of living increase. It’s pretty minimal for 2021. And so it’s going to be interesting to see how this all unfolds. But we should know more and have a definitive answer here pretty soon.
Generally around November is when the Medicare Trustees release the Part B premium rates, as well as the Part B deductible and other important information pertaining to your costs.