As we await official announcements from CMS on Medicare costs in 2022, we have a good picture of the overall changes coming. Keep an eye out here as we will update all of the confirmed Medicare 2022 copays, deductibles and premiums when they are announced. You can also sign up for our newsletter in the sidebar to stay informed.
Medicare Part B Premium for 2022
The Part B premium for people who do not qualify for extra help and do not fall in the Income Related Monthly Adjustment Amount (scaled pricing for higher income individuals) is currently $148.50 per month. It is estimated to have its highest single year increase since 2016. This estimated amount for the standard premium is $158.50 per month. If someone is getting extra help, that subsidy would likely increase to offset the additional costs for 2022.
Part B Deductible
The Part B deductible in 2021 is $203 (up $5 from $198 in 2020). The estimate is for a fairly steep increase of $14 per year to $217.
Part D (Prescription Drug Coverage): Changes in 2022
According to CMS, the average basic monthly premium for standard Medicare Part D coverage is projected to be approximately $33 in 2022 (an increase of 4.9%). Because Medicare prescription drug coverage is provided by numerous private insurers, the actual costs and coverage for beneficiaries can vary widely. It is important for each Medicare recipient to review their plan options during the annual open enrollment period (October 15th-December 7th).