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Medicare: Part B premium increase explained

2022 is bringing an increased cost for Medicare Part B premiums.

stethoscope with hundred dollar bills representing medical costs associated with Medicare

The increases for both the standard premium for Medicare Part B, as well as the Part B deductible have been announced.

The U.S. Centers for Medicare & Medicaid Services made the announcement.

Why are the increases happening?

There are various reasons outlined for why the cost of Medicare has risen dramatically in 2022.

One factor is the rising costs associated with the use of the healthcare system.

Congress also decided that the increase for 2021 Part B premium was actually lower than what it should have been originally.

Finally, there is uncertainty surrounding a new drug called Aduhelm that helps Alzheimer’s and its use with recipients.

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Part B premium

The premium for Part B is going up by $22 per month.

For 2022 the cost will now be $170.10 per month.

Medicare increase eats away at COLA increase

The U.S. Secretary of Health and Human Services has asked for a reassessment.

The biggest reason for reassessment is that the cost of Aduhelm has dropped 50% since Jan. 1.

That was one major reason for such a large increase.

Medicare increases will impact low earners

Part B deductible

The deductible for Part B has risen by $30.

Seniors on this health plan will now have a $233 deductible.

In 2021 the deductible was $203.

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