Medicare Part A and B premiums were recently announced for 2022, so how much will it cost?
The new premium prices were announced by the Center for Medicare and Medicaid on Nov. 12.
Medicare Part B, the one most members have to pay for, will go from $148.50 to $171.00.
This part of Medicare is normally taken directly out of a person’s social security check. Part B is actually based on a person’s total income though.
2021 data showed recipients paid almost 10% of their checks every month for Medicare Part B.
The deductible for Medicare Part B was also raised. It will go from $203 to $230 for 2022.
Every year the price goes up due to the costs rising with providing medical care.
Between 2020 and 2021 the increase was only 2%. For 2021 to 2022 it’s over 15%.
Many recipients do not pay for Medicare Part A, but the 1% that do will be paying $499 in 2022.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected]