Call (805) 338-7727 to speak with a licensed insurance agent.

Call (805) 338-7727 to speak with a licensed insurance agent.

Medicare Costs for 2022 Have Been Announced

Posted by Elana Foxx, December 8, 2021

As you might already know, Medicare updates its plan premiums each year. Since out-of-pocket costs affect your overall budget, here’s what you need to know about Medicare premiums and other costs in 2022.

Part A (Hospital)

For Inpatient Hospital Stays, you pay…

(Benefit period ends 60 days after release from care)

  • Deductible: $1,556 per benefit period
  • Coinsurance (days 1-60): $0 per day of each benefit period
  • Coinsurance (days 61-90): $389 per day of each benefit period
  • Coinsurance (60 lifetime reserve days): $778 per day after day 90 of each benefit period

For Skilled Nursing Facility Stays, you pay…

(3-day inpatient hospital stay required first)

  • Coinsurance (days 1-20): $0 per day of each benefit period
  • Coinsurance (days 21-100): $194.50 per day of each benefit period

Part B (Medical)

  • Part B Deductible, you pay… $233 per calendar year
  • Part B Coverage, you pay… Generally, 20%, after $233 deductible is met

Part B Premium (Including high income Part B and Part D)

[Paid to Medicare]

Those enrolled in Part B will pay at least the standard $170.10/mo premium (based on income). Higher income earners will pay a Part B IRMAA (Income Related Monthly Adjustment Amount) in addition to the $170.10/mo standard premium.

Those with higher income who are enrolled in Part D Prescription Drug coverage also pay a Part D IRMAA in addition to the monthly insurance premium for a Part D prescription drug plan or Medicare Advantage plan that includes Part D coverage.

Contact your healthcare plan agent for more information on how your income affects Part B and Part D premiums. We can help you learn about your out-of-pocket costs, review plans, and identify one that suits your needs.

Need more information on your insurance options?

Contact us online to learn more

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