2022 Medicare Changes
Medicare Changes in 2022
For the past several months we’ve known that the Medicare board of trustees has estimated that the 2022 Part B Premium (usually deducted directly from your Social Security check) will be about $158.50/month for next year. We’ve shared this estimate with our clients over the past few months and now we’d like to share the official, approved Part B premium for 2022 since it’s increase will be quite a bit more than originally estimated. Medicare beneficiaries can now expect to pay $170.10/month starting in January for their Part B coverage. This is a bit of a shocker, given their initial estimate. Please refer to this article direct from the Centers for Medicare & Medicaid Services which outlines the new costs for Medicare in 2022, including Parts A & B premiums, deductibles, and IRMAA premiums, as well as a list of their reasons that such a large increase was necessary.
There are also major changes happening within the Part D side of Medicare as well. There are huge plan changes (plans being cancelled, moved, and new ones created), formulary changes, and most premiums are changing as well. There are still 3 weeks left in the Annual Enrollment Period to get a Part D prescription plan (or Medicare Advantage plan) review if you haven’t already. To request a review, please just give us a call or email your current list of prescriptions and your preferred pharmacy and we will get back to you with options for the lowest cost plan for you for 2022.