Medicare Costs for 2022
Medicare Costs for 2022 were announced on 11/12/2021 by the Centers for Medicare & Medicaid Services.
| 2022 MEDICARE COSTS |
2021 AMOUNT | 2022 AMOUNT |
|---|---|---|
| Medicare Part B Premiums | $148.50 | $170.10 |
| Part A Deductible (Inpatient Hospital) | $1,484 | $1,556 |
| Part B Deductible (Physician’s Services) | $203 | $233 |
| Hospital Coinsurance Days 61-90 | $371 | $389 |
| Hospital Coinsurance Days 91-150 | $742 | $778 |
| Skilled Nursing Facility Coinsurance | $185.50 | $194.50 |
| High Deductible Plan F | $2,370 | $2,490 |
| Plan K Out of Pocket Maximum | $6,220 | |
| Plan L Out of Pocket Maximum | $3,110 |
2022 Medicare Part B Costs
The base premium for 2022 Medicare Part B is $170.10. Part B pricing is based on your income from 2 years prior, therefore your 2022 Medicare Part B costs are based on your 2020 income tax filings. The increased premium over the based amount is called IRMAA and stands for Income-Related Monthly Adjustment Amount. IRMAA is an additional amount that some people might have to pay along with their Medicare premium if their modified adjusted gross income (MAGI) is higher than a certain threshold. To avoid confusion, our chart below shows the entire premium you owe for your 2022 Medicare Part B Costs for each income bracket.
| If your yearly income in 2018 was | In 2020
You Pay |
||
|---|---|---|---|
| File individual tax return | File joint tax return | File married & separate tax return | |
| $91,000 or less | $182,000 or less | $91,000 or less | $170.10 |
| above $91,000 up to $114,000 | above $182,000 up to $228,000 | Not applicable | $238.10 |
| above $114,000 up to $142,000 | above $228,000 up to $284,000 | Not applicable | $340.20 |
| above $142,000 up to $170,000 | above $284,000 up to $340,000 | Not applicable | $442.30 |
| above $170,000 up to $500,000 | above $340,000 up to $750,000 | above $91,000 up to $409,000 | $544.30 |
| above $500,000 | above $750,000 | above $409,000 | $578.30 |
Medicare Part D Costs
2022 Medicare Part D – Plan Costs
2022 AMOUNT
| PART D COSTS |
|
|---|---|
| Initial Deductible | $480 |
| Initial Coverage Limit (ICL) | $4,430 |
| Out-of-Pocket Threshold (TrOOP) | $7,050 |
| Coverage Gap (Donut Hole) | Between $4,430 and $7,050 |
2022 Medicare Part D – Premium Costs
Base Part D premiums are set by your Part D insurance company. The average premium for 2022 is $31.47.
The increased premium over the based amount is called IRMAA and stands for Income-Related Monthly Adjustment Amount. IRMAA is an additional amount that some people might have to pay along with their Medicare premium if their modified adjusted gross income (MAGI) is higher than a certain threshold.
The 2022 IRMAA premium below is what you will pay in addition to your Part D premium.
| If your yearly income in 2020 was | In 2022
Your IRMAA is |
||
|---|---|---|---|
| File individual tax return | File joint tax return | File married & separate tax return | |
| $91,000 or less | $182,000 or less | $91,000 or less | $0 |
| above $91,000 up to $114,000 | above $182,000 up to $228,000 | Not applicable | $12.40 |
| above $114,000 up to $142,000 | above $228,000 up to $284,000 | Not applicable | $32.10 |
| above $142,000 up to $170,000 | above $284,000 up to $340,000 | Not applicable | $51.70 |
| above $170,000 up to $500,000 | above $340,000 up to $750,000 | above $91,000 up to $409,000 | $71.30 |
| above $500,000 | above $750,000 | above $409,000 | $77.90 |
2022 Medicare Advantage & Medigap Pricing
Medicare Advantage Plans and Medigap plan pricing are dictated by the insurance companies. We go into this a little more in our Medicare Advantage vs Medigap article.
2022 Medicare & You Handbook
