On November 12, 2021, the Centers for Medicare & Medicaid Services (CMS) released the 2022 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs, and the 2022 Medicare Part D income-related monthly adjustment amounts.
These Medicare plan changes are causing many seniors to be outraged as the cost for healthcare drives upward.
Each year the Medicare Part B premium, deductible, and coinsurance rates are determined according to the Social Security Act. The standard monthly premium for Medicare Part B enrollees will be $170.10 for 2022, an increase of $21.60 from $148.50 in 2021.
However, if you are a high-income earner–meaning you earn more than $181,000 taxable income as a married couple and more than $91,000 as a single-person– you can find out what your Part B will be since you pay Income Related Monthly Adjustment Amounts (IRMAA). IRMAA premiums can be found here.
The annual deductible for all Medicare Part B beneficiaries is $233 in 2022, an increase of $30 from the annual deductible of $203 in 2021.
* If you are enrolled into Medicare supplement Plan F–you still do not pay the Part B Deductible.
* If you are enrolled into Medicare supplement Plan G–this change does apply to you.
If these Medicare premiums are becoming too burdensome, please contact our offices to learn about methods to lower your medical and healthcare costs. You can also learn about how to apply for Medicare Extra Help, here.