Medicare costs do tend to increase every year to accommodate for inflation and rising health care costs. 2022 has proven to be no exception. There have been slight changes in Medicare premiums, deductibles, and coinsurance for 2022.
Medicare Part A
Most people do not have to pay a monthly premium for Medicare Part A, but the deductible and coinsurance have gone up. The Medicare Part A Deductible in 2022 will be $1556. In 2021, it was $1484. For days 60-90 for Part A coinsurance for hospital stays in 2022, the new rate will be $389 (up from $371 in 2021). For days 91-150, it will be $778 as opposed to $742 in 2021. Additionally, coinsurance for skilled nursing facilities has gone up. In 2021 It was $185.50. In 2022, it will be $194.50. If you wish to avoid the Medicare Part A Deductible or coinsurances, make sure to enroll in a Medicare Supplement Plan which covers them (most do!).
Medicare Part B
For Medicare Part B, the monthly premium has gone up more than expected. In 2021, the base monthly premium for Medicare Part B was $148.50. In 2022, it will be $170.10! This is a larger change than anticipated. However, there is good news.
The Medicare Part B monthly premium is based on your income from two years ago. So make sure to file for, SSA-44 if your income has changed. The Medicare Part B Deductible has also gone up from $203 to $233. This is a once per year deductible though. Once you’ve met it, you’ll be responsible for 20% coinsurance.
If you want to learn more about Medicare costs for Medicare Part C (Medicare Advantage) & Medicare Part D (Prescription Drug Plans) click here.
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Jesse Smedley is the Principal Broker for iHealthBrokers and the founder, president, and CEO of Smedley Insurance Group, Inc. and iHealthBrokers.com. Since the inception of SIG in 2007, Jesse has been dedicated to helping people save money on their health insurance by providing them with resources to educate themselves on all their health insurance options, both under age 65 and Medicare beneficiaries. He is featured in many publications as well as writes regularly for expert columns regarding health insurance and Medicare.
