Skip to content

Medicare 2022: Part B premium will not be reduced

Medicare’s Part B premium will not be reduced this year.

Medicare

However, any savings will be passed onto the beneficiary in 2023.


Social Security: Here’s why most retirees fall short of the maximum benefit

How much is the premium?

Medicare’s Part B basic monthly premium is$170.10. This year, the premium will not be reduced. However, any savings from lower spending will be passed onto beneficiaries in 2023.

In 2022, there was a record-high increase for Part B. The hike was $21.6o on the basic premium, which is a record high. The Centers for Medicare and Medicaid Services (CMS) was asked to reassess their hike.

Part of CMS’s reasoning was that they needed to create a reserve in the event that they decide to cover Aduhelm. Aduhelm is a new Alzheimer’s drug that was approved by the FDA in June. The manufacturer, Biogen, estimated the cost of the drug to be $56,000 a year. After backlash, the estimated cost was reduced to $28,200 as of Jan. 1, 2022.

Since the premium increase, CMS announced the Medicare coverage of Aduhelm will be limited to beneficiaries enrolled in approved clinical trials.

AARP has urged CMS to lower their rates as many seniors are already struggling. In 2021, the Part B premium was $148.50.


Stimulus: Will Social Security recipients get a $1,400 stimulus check?

Top