Medicare Advantage Premiums to Decrease in 2020

Monthly premiums for Medicare Advantage (MA) plans are expected to drop by an average of $3.87 to an estimated $23 in 2020 — a 14 percent decrease, the Centers for Medicare and Medicare Services (CMS) announced on Tuesday. About one-third of Medicare's 60 million beneficiaries belong to these private insurance plans.

Open enrollment for all Medicare enrollees begins Oct. 15 and ends Dec. 7.

Medicare Advantage, also known as Medicare Part C, is a private insurance alternative to original Medicare. These plans include Medicare Part A, which covers hospital care, hospice, and some nursing home and rehabilitative services, and Part B, which helps pay for doctor visits and other outpatient services, including lab tests, scans and other diagnostic services. Most MA plans also include prescription drug coverage.

The premiums announced Tuesday represent a nationwide average. Actual monthly charges for MA plans will vary depending on what the plan covers and where beneficiaries live. CMS announced this year that premiums for Part D prescription drug coverage were also trending down by about 13.5 percent to a projected $30 a month. CMS has not yet set the premiums for Part B or the deductibles for parts A and B.

https://www.aarp.org/health/medicare-insurance/info-2019/medicare-advantage-premiums-decline.html?