The Center for Medicare & Medicaid Services (CMS) published Medicare's 2022 costs on November 12, 2021.
I was not surprised by the increase amounts since there will be a 5.9% increase in Social Security on January 1st.
Sharing highlights of Medicare's Part B, covers all outpatient treatment and services, increases:
+ The monthly cost each person who is on Medicare pays will jump up $21.60 on January 1st to $170.10. It is $148.50 this year.
Note: Over 776,000 people with higher incomes pay more each month. There are five income based levels above $170.10, which is the base. The first step up is for individuals whose AGI on their IRS 1040 from two years ago is $91,000 or higher.
+ The annual deductible, which a person who is just using Part B would pay, jumps up $30 to $233 from $203 this year.
Highlights of Medicare's Part A, which covers hospitalization services and treatments, coverage in 2022.
+ There is no monthly cost for 99% of people on Medicare had at least 40 quarters of Medicare covered employment.
+ There is a $1556 deductible each time a person is in the hospital if they are just using Part A.
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