Medicare Rate Increases for 2022
- Some Medicare rates are set to increase in 2022, including premiums, copays and Medicare deductibles. Learn more about what to expect for Medicare costs.
Medicare beneficiaries can usually expect their rates to increase every year. In this review, we highlight the expected 2022 Medicare rate increase for Medicare premiums, deductibles and more, according to the 2021 Medicare Trustees Report from the Centers for Medicare & Medicaid Services (CMS).
It’s important to note that the figures below are based on the cost estimates from the trustees report. This article will be updated when the official 2022 Medicare premiums are posted.
Medicare Part A and Part B Premiums Increase in 2022
Medicare Part A premiums will remain at $0 for most beneficiaries. That’s because most beneficiaries haver premium-free Part A because they paid Medicare taxes for at least 40 quarters (10 years of work), which is a benchmark that remains unchanged for 2022.
But for those who have not paid the required amount of Medicare taxes, Part A premiums will most likely increase. Those who have paid Medicare taxes for 30 to 39 quarters will likely see their Part A premium increase from $259 per month in 2021. And those with fewer than 30 quarters worth of Medicare taxes will likely see a jump from the current rate of $471 in 2021.
Medicare Part B premiums are also on the rise in 2022. The 2022 Medicare Part B premium is expected to be $158.50 per month, which is up from $148.50 in 2021.
What Is the 2022 Medicare Part B deductible?
The estimated rate for the 2022 Part B deductible is $217 per year (up from $203 in 2021). This is an increase of $14 per year from the 2021 Part B deductible
Premiums for Medicare Part C (Medicare Advantage) and Medicare Part D (Prescription Drug Plans) are on an opposite trajectory. While Medicare Part A and Part B premiums have historically gone up nearly every year, premiums for private Medicare plans have been dropping in recent years.
Medicare Advantage plans with prescription drug coverage featured an average monthly premium of $33.57 in 2021. Medicare Advantage plan premiums have trended downward in recent years, so we will soon know if 2022 Medicare Advantage premiums will be lower again next year.
Standalone Part D plans had an average monthly premium of $41.64 in 2021 and will likely be somewhere near that amount in 2022.
Questions About Medicare Rate Increases?
If you have any questions about Medicare premiums, deductibles or other costs, call 1-800-MEDICARE (1-800-633-4227) to speak with a representative.
For questions about Medicare Advantage or Medicare Part D rates, you can compare plans online or call a licensed insurance agent for assistance.