Medicare finally announced the 2022 Part B costs late Friday afternoon.  The key numbers are the monthly Premium and the annual Deductible.  The Part B premium that most people pay will go up 14.5% from $148.50 to $170.10.  (Higher income people must pay an income surcharge called, Irmaa.  These amounts as well as the thresholds increased also.)  The Part B deductible increased a similar percentage from $203 to $233. 

These increases were more than projected just a couple of months ago.  The primary drivers for these increases were medical inflation and potential coverage of a new, hi-cost Alzheimer drug.  While these increases seem large, people on Social Security will still see a net increase due to the Hold Harmless provision that insures people’s Cola increase will cover the Medicare Part B premium increase.

As usual, I will post all of the key Medicare cost share amounts next month.  If any questions about how these apply to you, contact me.

Feel free to contact me if you have any questions or need assistance with selecting a Medicare Plan.  I don’t charge any fees nor increase your cost.

Based in the Richmond, Va area, David Higgs of Choices In Medicare specializes in helping seniors transition to Medicare.  He can be reached at email:  David@ChoicesInMedicare.com or go to website:  www.ChoicesInMedicare.com