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CMS announces slight increase for Medicare Part B premiums

CMS announces slight increase for Medicare Part B premiums

WASHINGTON - The standard monthly premium for Medicare Part B enrollees will be $148.50 in 2021, an increase of $3.90 from 2020, CMS has announced.

The annual deductible for Medicare Part B beneficiaries will be $203 in 2021, an increase of $5 from 2020.

Previously, in September, CMS announced that the average monthly premium for Medicare Advantage is expected to decrease 11% to $21 in 2021.

“With the 2021 Medicare Part B premium information now available, I encourage everyone with Medicare to take time over the next four weeks to review their options during Medicare Open Enrollment,” said CMS Administrator Seema Verma. “Thanks to President Trump's leadership, Medicare Part B premiums remain steady and seniors have more plans than ever to choose from, many new benefits and historically low Medicare Advantage and Part D premiums.”

Medicare Open Enrollment started on Oct. 15 and runs through Dec. 7.

CMS says Medicare spending is estimated to grow in 2021 due to people seeking care they have delayed during the COVID-19 public health emergency, availability of more COVID-19 treatments and availability of COVID-19 vaccines.

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