The 2022 costs for Medicare have been released by the Centers for Medicare and Medicaid Services. This includes the premiums, deductibles, and coinsurance amounts for Part A and Part B in 2022, as well as updated costs for Part C and Part D.
Medicare Part A Costs in 2022
Medicare Part A provides coverage for inpatient services such as skilled nursing facility care, hospice care, inpatient rehabilitation, and certain home health services. Most Medicare beneficiaries do not pay premiums for Part A since they have paid up to 40 quarters of Medicare taxes while employed. Part A enrollees who do not qualify for free premiums will have to pay premiums to stay enrolled in the plan. The full premium for Part A in 2022 will be $499 a month. Enrollees who have worked and paid taxes for at least 30 quarters will pay $274 per month in 2022.
The deductible is a required payment for all Medicare Part A enrollees. The deductible for Part A in 2022 will be $1,556 per benefit period. This covers the first 60 days of approved inpatient hospital stays in a benefit period. The coinsurance amount for Part A in 2022 is $389 per day from the 61st to the 90th day of hospitalization in a benefit period. This amount increases to $778 per day for lifetime reserve days. The coinsurance for skilled nursing facility stays in 2022 from days 21 through 100 is $194.50 for extended care services.
Medicare Part B Costs in 2022
Medicare Part B covers outpatient services such as durable medical equipment, preventive screenings, ambulance rides, and other services not covered under Medicare Part A. Unlike Part A, Part B premiums are required for every enrollee. The standard premium for Medicare Part B in 2022 is $170.10.
The annual deductible will be $233 for all beneficiaries. The premiums and deductibles have increased for 2022 due to rising prices across the healthcare industry, higher expenditures in the Medicare program, and other factors.
Part C and Part D
Medicare Advantage (Part C) plans are sold by various insurance providers and thus have varying costs. Some Part C plans have $0 premiums, while you may need to pay premiums for other plans. The cost of your Part C plan depends on factors such as your insurance provider, location, type of plan, and whether you receive in-network or out-of-network care.
Part D plans also have varying costs, which may be affected by your income. While premiums will vary by plan, so will deductibles. While some Part D plans may have a $0 deductible, others may have a maximum deductible of up to $480 in 2022.
Want to Learn More? Give Us a Call
At Midwest Medigap, we are equipped with the right tools to help you find the right Medicare solution. Contact us today for help and more information about the new and updated costs for 2022.
