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Medicare
Costs for 2022

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 AMOUNT2022 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 AmountIRMAA 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 2020 was

In 2022

You Pay

File individual tax returnFile joint tax returnFile married & separate tax return
$91,000 or less$182,000 or less$91,000 or less$170.10
above $91,000 up to $114,000above $182,000 up to $228,000Not applicable$238.10
above $114,000 up to $142,000above $228,000 up to $284,000Not applicable$340.20
above $142,000 up to $170,000above $284,000 up to $340,000Not applicable$442.30
above $170,000 up to $500,000above $340,000 up to $750,000above $91,000 up to $409,000$544.30
above $500,000above $750,000above $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

Your Part D insurance company sets base Part D premiums. 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 AmountIRMAA 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 returnFile joint tax returnFile married & separate tax return
$91,000 or less$182,000 or less$91,000 or less$0
above $91,000 up to $114,000above $182,000 up to $228,000Not applicable$12.40
above $114,000 up to $142,000above $228,000 up to $284,000Not applicable$32.10
above $142,000 up to $170,000above $284,000 up to $340,000Not applicable$51.70
above $170,000 up to $500,000above $340,000 up to $750,000above $91,000 up to $409,000$71.30
above $500,000above $750,000above $409,000$77.90

2022 Medicare Advantage & Medigap Pricing

The insurance companies dictate medicare Advantage Plans and Medigap plan pricing. We go into this more in our Medicare Advantage vs. Medigap article.

 

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