The Centers for Medicare & Medicaid Services (CMS) released the 2022 premiums, deductibles, and coinsurance amounts for Original Medicare. To learn how much Part A and Part B will cost you in 2022, continue reading.
Medicare Part B
Medicare Part B covers outpatient hospital services, physician services, home health services, durable medical equipment, and some other health services that aren’t covered by Part A. Each year, the premium, deductible, and coinsurance rates are decided according to the Social Security Act. This is how much each will cost:
Premiums
In order to maintain Part B coverage, you must pay monthly premiums. The standard monthly premium for Medicare Part B members will be $170.12 for 2022. This is an increase of $21.60 compared to 2021.
Deductible
The annual deductible is charged before Medicare Part B benefits can be used. The standard annual deductible for all Medicare Part B beneficiaries is $233 for 2022. This is an increase of $30 compared to 2021.
(In 2022, increases to the Part B premiums and deductibles are attributed to rising prices and utilization across the health care system.)
Medicare Part A
Medicare Part A covers inpatient hospitals, skilled nursing facilities, hospices, inpatient rehabilitation, and some home health care services. A vast majority of Medicare beneficiaries do not have to pay any Part A premiums, although they are required to pay deductibles. This is what Part A premiums and deductibles cost in 2022.
Premiums
Medicare Part A premiums are determined based on the number of quarters you’ve paid into Medicare taxes. If you have less than 40 quarters of coverage, you must pay a premium. Those who have paid more than 40 quarters can acquire Medicare premium-free. Individuals who have had at least 30 quarters of work can buy into the program at a reduced cost. Their premium will be $274 in 2022. People who are uninsured and have less than 30 quarters of coverage will be required to pay $499 a month for coverage in 2022.
Deductibles
The Part A inpatient hospital deductible that must be paid if admitted to the hospital is $1,556 in 2022. That’s an increase of $72 from 2021. The inpatient hospital deductible covers your share of costs for the first 60 days of Medicare-approved inpatient hospital care in a benefit period.
In 2022, beneficiaries must pay a coinsurance amount of $389 per day for the 61st through 9th day of any hospitalization. Any lifetime reserve days they use will cost $778 per day. If you instead stay in a skilled nursing facility, the daily coinsurance for days 21 to 100 in a benefit period will be $194.50.
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