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.
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
Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.
The information provided is not intended to be a substitute for specific individualized tax planning or legal advice. We suggest that you consult with a qualified tax or legal professional.
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This article was prepared by Broadridge.
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