Every year, changes come to Medicare. In 2022, Medicare has several new benefits and adjustments to speak of. As a beneficiary, it’s important to keep up with these developments. Below, we’ll provide the information you need to know about how Medicare is different this year including how much Medicare costs in 2022.
What is the Medicare Deductible for 2022?
The annual Part B deductible has increased to $233 which is $30 more than last year. The standard Part B premium is increasing to $170.10 monthly, which is $21.60 more per month than before.
Part A is free for most people. The Part A deductible increases annually. In 2022, the deductible will be $1,556 for each benefit period. That makes the increase $72 more than last year. But, those who buy into Medicare could pay a full Part A premium of $499 each month. And, those who paid 30-39 quarters could pay $274 per month.
The inpatient hospital benefit period costs are rising slightly for 2022. For days 1-60 beneficiaries will continue to pay $0 each day. Days 61-90 now cost $389 per day. Finally, for days 91 and beyond, you’ll pay $778 coinsurance for each day. Now, skilled nursing facility copayments also saw an increase; days 21-100 cost $194.50 per day.
New Medicare Benefits for 2022
The number of Medicare Advantage plans available to the average beneficiary has increased for 2022. Also, telemedicine is growing in availability. Before we go over all the specifics on new Medicare benefits, let’s take a look at the cost of Medicare in 2022.
What Does Medicare Advantage Look Like for 2022?
Medicare Advantage plan premium costs decreased to an estimated $19 on average across the United States. Beneficiaries can also expect to see more plan options, even for those in rural areas. More options and lower costs are good news to beneficiaries opting for Part C insurance.
What is the Cost of Part D in 2022?
Premiums for Part D in 2022 average about $33 a month, up $2 from the previous year. The initial deductible in 2022 is $480 for the year. The initial coverage limit increased to $4,430. Also, the Out of Pocket threshold increased to $7,050.
What is the 2022 High Deductible for Medigap?
High Deductible Plan G and High Deductible Plan F have an annual deductible of $2,490 for 2022. Now, while newly-eligible beneficiaries can no longer purchase any version of Plan F, the people currently enrolled in High Deductible Plan F will be responsible for the deductible.
What is the 2022 Maximum Out of Pocket?
For Medicare Advantage, maximum out-of-pocket limits can reach up to $7,550 for in-network services. Now, out of network, you could have a MOOP of $11,300.
Those with Medicare Supplement Plan L have a $3,310 out-of-pocket maximum. Those with Medigap Plan K have a $6,620 Maximum Out of Pocket for the year.