The Center for Medicare and Medicaid Services finally announce the Medicare Part B premium 2022. While we all loved our 5.9% cost-of-living adjustment (COLA) increase that was announced, no one appreciates it when the government take a chunk of our increase away to pay for our Medicare premiums.
In their announcement they have increase our monthly Part B premium for plan year 2022 from $148.50 per month to $170.10 per month. This equates to a $21.50 increase in our monthly cost for Part B coverage. For Medicare Beneficiaries this increase can be a real punch in the gut, as they are on a fixed income.
While our Medicare Part B premiums for 2021 were relatively flat so were our social security checks.
For those Medicare Beneficiaries that are enrolled under Original Medicare, you will also notice that your Part B deductible has increased.
The annual deductible for Medicare Part B beneficiaries is increasing from $203 in 2021 to $233 in 2022. This increase equals the largest overall cost increase at 12.88 percent. If CMS would had treated both items equally, the Medicare Part B deductible would have been \$214.98
According to CMS, the increases in the 2022 Medicare Part B premium and deductible are the direct result of the following:
Each year we evaluate the rising cost Medicare Beneficiaries face. As your Medicare Insurance Agent we are constantly reviewing Medicare plans from year to year.
For plan year 2022 several California Medicare Advantage Insurance Companies are offering Medicare Part B premium rebates. While they may not offer to cover 100% of the total cost, some companies are picking up the large majority of the cost.
We are here to help all Medicare Beneficiaries here in California, Arizona, and Nevada with your Medicare needs. Feel free to give us a call or submit a request online for one of our Licensed Medicare Insurance Agents to reach out to you directly.