I wrote a post earlier this year about the estimates for Medicare costs in 2022. About a month ago, Medicare announced the 2022 cost and it was a shock how much the part B fee will increase. It will be $170.10 (an increase of $21.60). They provided some rational about why it was a huge jump. It wasn't a particularly satisfying list of reasons and focused on the cost of the new Alzheimer's drug that was just approved even though there have been reports that doctors are unimpressed and not prescribing it.
However, maybe there is another reason. There is also a substantial cola increase for your SSA benefit in 2022 as compared with prior years and it is 5.9%. The SSA cola increase in the past 5 years has been very small by comparison. It's just a guess, but the coincidence of a hefty part B fee increase coinciding with a hefty SSA cola increase is ironic, don't you think?
There are other Medicare cost increases that are worth noting. Reminder, as these costs go up, so will the cost of your Medicare supplement premium increase. If you use Medicare Advantage, your perceived cost might not "go up" but your access to networks, part B drugs, prosthetics and other benefits might "go down". The MOOP for Medicare Advantage plans did not change and remains at $7,550 for in-network and $11,300 for combined in-network and out-of-network.
- Part B fee - $170.10 (up $21.60)
- Part B deductible - $233 (up $30)
- Part A deductible - $1,556 (up $72)
- Part A hospital day copay after 60 days - $389 (up $16)
