Melissa N. Osika, MBA
The Centers for Medicare & Medicaid Services (CMS) have released the 2022 Medicare Part A and Part B premiums, deductibles, and coinsurance amounts.
Medicare Part A Premium and Deductible Changes
Medicare Part A covers inpatient hospital services, skilled nursing facility services, hospice services, inpatient rehabilitation services, and some home health care services.
The Medicare Part A inpatient hospital deductible that beneficiaries pay is $1,556, an increase of $72 from $1,484 in 2021. The Part A inpatient hospital deductible covers beneficiaries’ share of costs for the first 60 days of Medicare-covered inpatient hospital care in a benefit period. In 2022, beneficiaries must pay a daily coinsurance amount of $389 for days 61–90 of a hospitalization (vs. $371 in 2021) in a benefit period and $778 per day for lifetime reserve days (vs. $742 in 2021). For beneficiaries in skilled nursing facilities, the daily coinsurance for days 21–100 of extended care services in a benefit period is $194.50 (vs. $185.50 in 2021).1
Medicare Part B Premium and Deductible Changes
Medicare Part B covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and other medical and health services not covered by Medicare Part A.
Medicare Part B premium, deductible, and coinsurance rates are determined annually. The standard monthly premium for Medicare Part B enrollees is $170.10, an increase of $21.60 from last year. The annual deductible for all Medicare Part B beneficiaries $233, an increase of $30 from $203 in 2021.1
Important Medicare Dates
- January 1: Medicare general enrollment begins.
- January 1: Medicare Advantage enrollment begins.
- January 15: Medicare Advantage and Part D rate release.
- March 31: Medicare general enrollment ends.
- March 31: Medicare Advantage enrollment ends.
- April: Flu season ends.
- September: Private plans send notice of any changes in cost, coverage, or service area.
- October 15: Medicare open enrollment begins.
- November: Flu season begins.1
- November 6 (estimated): Medicare Part A and Part B premiums and deductibles announced.
- December 7: Medicare open enrollment ends.
To learn more about how these changes could affect you, read about Medicare Parts A and B at CMS.gov.
This content is developed from sources believed to be providing accurate information, and provided by Twenty Over Ten. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.