In this article, we discuss the 2022 Medicare cost and changes you need to be aware of. If you’re newly eligible for Medicare, or you’ve been on Medicare, this article is for you. Every year, there are changes in Medicare that you need to be aware. We do our best to keep you up to speed and in this article, we discuss the specifics of 2022 Medicare cost.
How much will Medicare cost in 2022?
Like everything, the cost of Medicare in 2022 has increased from 2021. What you pay for Medicare Part A, Medicare Part B and Medicare Part D can also vary from beneficiary to beneficiary depending on your income level (IRMMA). Let’s dig deeper into the 2022 Medicare changes below. Medicare still pays 80% and you pay 20% for Part B services (after your Part B deductible has been satisfied).
What is the Medicare Premium for 2022?
There are two Medicare Premiums for 2022, your Medicare Part A Premium and Medicare Part B premium.
Medicare Part A Premium 2022
Most Medicare beneficiaries are not aware there is a 2022 Medicare Part A Premium, simply because they get Part A for free (due to working 40 quarters and paying into Medicare).
For those that don’t qualify for free Medicare Part A premium, and worked between 30-39 quarters, you can expect to pay $274/month (up from $259 in 2021). If you worked less than 30 quarters, your Medicare Part A Premium in 2022 will be $499/month (up from $471 in 2021)
Medicare Part B Premium 2022
Regardless of how long you’ve worked, all Medicare beneficiaries will pay a premium for Medicare Part B in 2022 (the only exception are beneficiaries also eligible for Medicaid).
The standard Medicare Part B Premium in 2022 is $170.10/month (that’s $21.60 more than what you paid in 2021).
Your cost for Medicare Part B could be more, based on your income (IRMMA).
What are the 2022 Medicare Deductibles?
Just as there are two different 2022 Medicare Premiums, there are also two different 2022 Medicare deductibles. And, if you guessed Medicare Part A Deductible and Part B Deductible, then you would be correct. More Medicare changes 2022 below.
Medicare Part A Deductible 2022
The 2022 Medicare Part A deductible is $1,556 (up $72 from 2021) and is applicable per benefit period (a benefit period is 60 days). In short, you could pay the deductible more than once per year, if you have more than one hospital visit 60 days apart from one another.
Medicare Part B Deductible 2022
Your 2022 Medicare Part B deductible is $233 (up $30 from 2021) and is a one-time annual deductible. Your Part B benefits include coverage for your physicians, outpatient procedures, durable medical equipment and more.
2022 Medicare Costs at a glance (Medicare Changes 2022 )
2022 Medicare Premiums
- Medicare Part A Premium: Free for most, or up to $499/month
- Medicare Part B Premium: $170.10/month
2022 Medicare Deductibles
- Medicare Part A Deductible: $1,556
- Medicare Part B Deductible: $233
Now that we’ve reviewed some of the 2022 Medicare costs, lets review the Medicare benefits for 2022.
Medicare Benefits 2022
Have there been changes to 2022 Medicare Supplement Plans?
There have been subtle changes to out of pocket limits on plans K and L. And the deductibles with the HD-G and HD-F plans have slightly increased.
- Medicare Supplement Plan K out of pocket for 2022 is $6,620
- Medicare Supplement Plan L out of pocket for 2022 is $3,310
- Medigap Plan HD-F deductible for 2022 is $2,490
- Medigap Plan HD-G deductible for 2022 is $2,490
2022 Medicare Advantage Plan Ratings
Medicare Advantage (Medicare Part C) plans, which usually combine A, B and D, are offered by private insurers meeting Medicare standards. Some also offer dental and vision care, among other benefits.
CMS assigns star ratings to each Medicare Advantage (MA) plan. Five is the highest ranking, and 1 is the lowest. CMS rates the plans based on care quality and the level of customer satisfaction. The ratings are subject to change annually.
2022 Medicare Advantage Premiums Reduced
Medicare Advantage (MA or MAPD) plan premiums decreased slightly in 2022. You can expect plans will cost, on average $19 per month, compared to $21.22 a month in 2021. Not only are more people expected to sign up for MA plans in 2022 than 2021, but more MA plans will also be available in the marketplace.
How to avoid or reduce the cost of Medicare in 2022
You can easily reduce or in some cases avoid these costs if you are enrolled in a Medicare Plan for 2022. All Medicare Supplement Plans (Expect plan A) cover the Part A deductible 100%. When you have a Medicare Advantage plan, cost can be significantly reduced, depending on the Medicare Advantage plan you have.
Getting Help Choosing a 2022 Medicare Plan
Whether you are new to Medicare or already have a plan, our friendly, licensed agents are here to help. We are a family owned and operated business and have been helping Medicare beneficiaries since 2014.
All day, every day, we help Medicare beneficiaries with anything Medicare…and most importantly, we make it easy. To get help, you can call, email or complete a form. Our phone number is 866-MEDIGAP (633-4427). Our email is info@SeniorHealthCareSolutions.com and the form is at the top of this page “Request a Quote”
Learn More: Most Common Medicare Mistakes
Frequently Asked: Who Qualifies for Medicare? What are the different Medigap Plans?
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Why am I seeing this post? Medicare changes 2022, 2022 Medicare Cost at a glance, Medicare benefits 2022, New Medicare benefits for 2022