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Comments on: How Much are Medicare Part B Premiums in 2020? https://www.maxoutofpocket.com/how-much-are-medicare-part-b-premiums-in-2020/?utm_source=rss&utm_medium=rss&utm_campaign=how-much-are-medicare-part-b-premiums-in-2020 Where personal finance meets healthcare. Wed, 19 Feb 2020 23:55:22 +0000 hourly 1 https://wordpress.org/?v=5.7.11 By: Max OOP https://www.maxoutofpocket.com/how-much-are-medicare-part-b-premiums-in-2020/#comment-856 Wed, 19 Feb 2020 23:55:22 +0000 https://www.maxoutofpocket.com/?p=4922#comment-856 In reply to Dragon Guy.

Thank you, Sir. Yeah, you can likely reduce the yearly estimate a bit (at least for premiums) and then make some reasonable assumptions on out-of-pocket costs for Medicare. I will be talking more about that piece in a coming post. Laws do change and the rate changes are ‘generally’ tied to inflation, but it is great to know them now and flag any changes that come up.

Max

]]> By: Dragon Guy https://www.maxoutofpocket.com/how-much-are-medicare-part-b-premiums-in-2020/#comment-850 Mon, 17 Feb 2020 02:44:00 +0000 https://www.maxoutofpocket.com/?p=4922#comment-850 Hey Max, I am really enjoying your Medicare posts. I made a financial protection for both of us until we are age 95. For healthcare costs, I just took each yearly estimate and grew it by a certain percentage. I didn’t put much thought into what the numbers would be when we get to 65 and Medicare kicked in. These posts are making me thinking differently about that model and will be looking to build out my own projections specific to Medicare. Knowing of course the rates and laws will probably be different 20 plus years from now. Looking forward to your future posts on the subject!

]]> By: Max OOP https://www.maxoutofpocket.com/how-much-are-medicare-part-b-premiums-in-2020/#comment-847 Sun, 16 Feb 2020 19:37:55 +0000 https://www.maxoutofpocket.com/?p=4922#comment-847 In reply to Kim @ The Frugal Engineers.

Hi Kim!

No problem. Technically, Medicare never kicks in for nursing home care (unless it is a short skilled nursing stay). Medicare leaves that to the state Medicaid programs, and you are absolutely right they make you spend down assets before Medicaid will start paying. A lot of states make you go all the way down to $2,500 before Medicaid kicks in. One of the nursing homes I work with runs about $350 per day, so that spend down cand happen pretty quickly when you are blowing through $10,000 per month.

Take care,

Max

]]> By: Kim @ The Frugal Engineers https://www.maxoutofpocket.com/how-much-are-medicare-part-b-premiums-in-2020/#comment-846 Sun, 16 Feb 2020 16:34:01 +0000 https://www.maxoutofpocket.com/?p=4922#comment-846 Thank you for putting this together! It’s surprising how many young folks believe Medicare is free (and therefore we should make it available for every American!). I’d love to hear more on the topic of unlimited coverage and maximum out of pocket rules. I’ve heard a few tales of Medicare not kicking in for certain things (like nursing homes) until you’ve spent down all your personal assets, which is scary for folks putting all their eggs in the Medicare basket.

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