Medicare undergoes changes each year. Premiums, deductibles, coinsurance, and copayments are all subject to change from year to year. If you’re enrolled in Original Medicare (Part A and B) or will become eligible in 2022, it’s important for you to know what costs to expect in 2022.
What Are The Premiums?
Premiums for Part A are now $274 if you have worked between 30 and 39 tax quarters, and $499 if you have worked fewer than 30 tax quarters. However, if you have Part A premium-free, this will have no impact on you, as your Part A premiums will remain at $0.
The standard Part B premium is $170.10 in 2022. If you earned above a certain income level in 2020, you will pay more in Part B premiums relative to other groups. This also takes tax filing status into account.
What Are The Deductible Costs?
Part A’s deductible is now $1,556 per benefit period. A benefit period begins the day you’re admitted into an inpatient facility and ends 60 days after you have gone without inpatient treatment.
Part B’s deductible is $233, which is a one-time expense in 2022.
What Are The Coinsurance Costs?
Coinsurance costs have changed for Part A, but not for Part B (as it covers a percentage of treatment costs).
You only pay Part A coinsurance after having been in an inpatient facility for an extended number of days.
For example, these are the hospital coinsurance costs when you stay in a hospital in 2022:
- $0 for days 1-60
- $389 daily for days 61-90
- $778 daily for days 91-150
Like in the case of previous years, your Medicare Part B policy will still cover 80% of your outpatient medical costs after you’ve paid the $233 deductible.
What Are Original Medicare’s Copayments?
Copayments are decided upon by your insurer, so cost changes may vary.
We Will Help You Prepare For 2022 Costs
At KBI Solutions, we are always ahead of the curve in the world of Medicare. Our trained experts will help you with any questions you may have regarding Medicare’s changes in 2022. We may also help you find an alternative Medicare plan in the future if you would like to change coverage during the Medicare Advantage Open Enrollment Period (January 1 – March 31) or Annual Enrollment Period (October 15 – December 7). Call us today at (254) 918-5444 to learn more!