What Will You Pay for Medicare in 2022?

What Will You Pay for Medicare in 2022?

December 22, 2021
by Team SESLOC

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Medicare premiums, deductibles, and coinsurance amounts change annually. Here’s a look at some of the costs that will apply in 2022 if you’re enrolled in Original Medicare Part A and Part B.

Medicare Part B Premiums

According to the Centers for Medicare & Medicaid Services (CMS), most people with Medicare who receive Social Security benefits will pay the standard monthly Part B premium of $170.10 in 2022.

People with higher incomes may pay more than the standard premium. If your modified adjusted gross income (MAGI) as reported on your federal income tax return from two years ago (2020) is above a certain amount, you’ll pay the standard premium amount and an Income-Related Monthly Adjustment Amount (IRMAA), which is an extra charge added to your premium, as shown in the following table.

2022 Medicare B premiums based on income

Other Medicare Costs

The following out-of-pocket costs for Original Medicare Part A and Part B apply in 2022:

  • Part A deductible for inpatient hospitalization: $1,556 per benefit period
  • Part A premium for those who need to buy coverage: up to $499 per month (most people don’t pay a premium for Medicare Part A)
  • Part A coinsurance: $389 per day for days 61 through 90, and $778 per “lifetime reserve day” after day 90 (up to a 60-day lifetime maximum)
  • Part A skilled nursing facility coinsurance: $194.50 for days 21 through 100 (for each benefit period)
  • Part B annual deductible: $233

 


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Prepared by Broadridge Investor Communication Solutions, Copyright 2021.

SESLOC Wealth Management is provided through our relationship with CUSO Financial Services, L.P. (CFS)* an Independent Broker-Dealer and SEC Registered Advisor formed for the express purpose of serving Credit Union member’ investment and financial planning needs.
*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including potential loss of principal. Investment Representatives are registered through CFS. SESLOC has contracted with CFS to make non-deposit investment products and services available to credit union members. CFS and its representatives do not provide tax advice. For specific tax advice, please consult a qualified tax professional.

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