Medicare costs

Medicare Costs for 2022

On November 12th, the Centers for Medicare and Medicaid (CMS) released the Medicare parts A & B changes for 2022. These changes affect the monthly premium, Medicare part D income-related monthly adjustments, coinsurance amounts and deductibles.

The 2022 Part B premium increase is the largest dollar amount increase ever seen. This increase is due in part to the amount of money spent during the pandemic as well as a potentially new drug for Alzheimer’s.

For more information, please reach out to Guided Medicare. We will be happy to walk you through the changes and how they may affect you.

Medicare Part A Costs

Hospitalization: Semi-private room and board

First 60 days

$1,556 deductible

Days 61 – 90

$389 per day

Days 91-50 (60 lifetime reserve days)

$778 per day

Skilled Nursing Facility: After 3-day inpatient hospital stay

First 20 days

100% covered

Days 21 -100

$194.50 per day

Days 101+

Not covered

Hospice

End-of-life care

100% covered

Home Health Care

Medically necessary skilled care services

100% covered

Medicare Part B Premiums

The Medicare Part B premium for 2022 has increased from $148.50 to $170.10 and the deductible has increased from $203 to $233. In addition to the standard premium, beneficiaries may pay an additional amount based on their income tax returns. The chart below provides details on the additional premium based on how you file on your tax return.

*Based on 2020 year-end income

IndividuallyJointlyMarried & SeparateYou pay per
month (2022)
$91,000 or less$182,000 or less$91,000 or less$170.00
above $91,000 – $114,000above $182,000 – $228,000not applicable$238.10
above $114,000 up to $142,000above $228,000 – $284,000not applicable$340.20
above $142,000 – $170,000above $284,000 – $340,000not applicable$442.30
above $170,000 – $500,000above $340,000 – $750,000above $91,000 – $409,000$544.30
above $500,000above $750,000above $409,000$578.30

Medicare Supplement/ Medigap Coverage

In addition to Part A and Part B changes, the out of pocket limits for Medicare Supplement plans K and L have changed as shown in the chart below.

Part D Premiums

Like Part B, Medicare Part D also assesses an adjustment based on income. Please see below for the 2022 adjusted amounts.

IndividuallyJointlyMarried & SeparateYou pay per
month (2022)
$91,000 or less$182,000 or less$91,000 or lessyour plan premium
above $91,000 – $114,000above $182,000 – $228,000not applicable$12.40 + your plan premium
above $114,000 up to $142,000above $228,000 – $284,000not applicable$32.10 + your plan premium
above $142,000 – $170,000above $284,000 – $340,000not applicable$51.70 + your plan premium
above $170,000 – $500,000above $340,000 – $750,000above $91,000 – $409,000$71.30 + your plan premium
above $500,000above $750,000above $409,000$77.90 + your plan premium

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Understanding Medicare and yearly plan changes can be complicated. Our Team our experienced agents are here to help at no cost to you. Contact a representative today!

Guided Insurance Solutions, LLC, and its affiliates, do not provide tax, legal or accounting advice.  This material has been prepared for informational purposes only.  Please consult with your own tax, legal or accounting professionals before engaging in any transaction.

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