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There is much to be said for all of the 2022 Medicare cost and changes. How much does Original Medicare Part A and Medicare Part B cost?  Are there penalties?

It is important to understand the basics of Medicare costs.  Most people pay no premium for Original Medicare Part A.  The costs are dependent on how many quarters you have worked. 

The premium for Original Medicare Part B depends on your income.  For both Part A and Part B, there are also deductibles and coinsurance. You may also qualify for help paying for Medicare costs.

The cost for Part A premium is dependent on how many quarters you have worked.  If you did not work over 40 quarters, you might be eligible under your spouse. 

2022 Medicare Part A Premium Costs:

Medicare Part A costs in 2022
Premium if you have worked over 40 quarters$0
Premium if you have between 30 and 39 working quarters$274/month
Premium if you have fewer than 30 working quarters$499/month
Deductible$1,556/benefit period
Inpatient hospital daily coinsurance for days 61 to 90$389/day
Inpatient hospital daily coinsurance for 60 lifetime reserve days$778/day
Skilled nursing facility (SNF) daily coinsurance for days 21 to 100$185.50/day

How much is Medicare Part B premium?

The cost for Part B depends on your income.  Most people will pay the standard premium.  If your modified adjusted gross income is above a certain amount, you may pay an Income Related Monthly Adjustment – IRMAA. 

2022 Medicare Part B Premium Costs:

Medicare Part B costs in 2022
Premium$170.10 in 2022
Annual Deductible$233 in 2022

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