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On November 12, 2021, the Centers for Medicare & Medicaid Services released the 2022 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs, and the 2022 Medicare Part D income related monthly adjustment amounts. Below is a summary of those numbers:
| 2021 | 2022 | |
| Monthly Part B Premium | $148.50 | $170.10 |
Please note the Part B premiums increase for individuals with earnings of more than $91,000 or joint tax filers with earnings of more than $182,000. The monthly Part B premium can be as much as $578.30 for high income earning individuals and families.
| 2021 | 2022 | |
| Annual Part B Deductible | $203 | $233 |
This is the amount of the out-of-pocket expense that must be paid for outpatient services (e.g., office visits) before the 80% coinsurance benefit under Part B begins. The deductible and/or coinsurance percentage may not be applicable to certain Medicare beneficiaries who are enrolled in a Medicare Supplement or Medicare Advantage plan.
| 2021 | 2022 | |
| Part A Inpatient Hospital Deductible | $1,484 | $1,556 |
| Daily Coinsurance for 61st to 90th Day Hospitalized | $371 | $389 |
| Daily Coinsurance for 60 Lifetime Reserve Hospitals Days | $742 | $778 |
| Daily Coinsurance for Skilled Nursing Facility Days 21-100 | $185.50 | $194.50 |
Most individuals qualify for Part A without having to pay a monthly premium. Part A is premium free to individuals who paid Medicare taxes for 40 quarters (i.e., 10 years) or for individuals who were married to someone who paid Medicare taxes for 40 quarters.
| Income Amount | Income-Related Monthly Premium Adjustment |
| $91K or less ($182K or less for joint filers) | $0 |
| $91K – $114K ($182K – $228K for joint filers) | $12.40 |
| $114K – $142K ($228K – $284K for joint filers) | $32.10 |
| $142K – $170K ($284K – $340K for joint filers) | $51.70 |
| $170K – $500K ($340 – $750K for joint filers) | $71.30 |
| More than $500K (more than $750K for joint filers) | $77.90 |
Approximately 8% of Medicare beneficiaries pay a higher premium for Part D because of their income. These individuals will pay the base plan premium plus the additional amount in the table above. Part D covers prescription drugs.
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