Medicare Update for 2022 from Your Neighbors at Insurance Shops
The Annual Report of the Federal Supplementary Insurance Trust Funds predicts premiums and cost sharing variables like deductibles, copays, and maximum out of pockets, was published August 31st, 2021.They predict 2022 Part B premium and deductibles as well as the Part D deductible numbers. Here they are:
Part B of Medicare is the 80% medical coverage offered by Medicare. It does not cover hospitalization. Its purpose is things like doctors and specialist visits, outpatient treatment like chemotherapy and radiation, surgeries, anesthesia, and so on. The Part B premium for people who do not qualify for extra help and do not fall in the Income Related Monthly Adjustment Amount or IRMAA category is currently $148.50 per month and is predicted to rise to $158.50 per month. The Part B deductible in 2021 is $203 is predicted to go to $217.
Part D is the Federal Prescription Drug Program. They offer catastrophic limits to prescriptions that is a safety net for seniors. The Part D Deductible threshold can increase annually. Currently at $445 is estimated to increase to $485. This is probably the increase that will produce the most backlash for us Medicare educators. The Part D Catastrophic Threshold, now $6,550, is estimated to be $7,050.
Medicare premiums costs must go up along with the taxes that pay for Medicare. As Medicare-aged population increases, it will strain a system already strained. Highly trained licensed brokers, like us, help beneficiaries navigate an already confusing system at no extra cost. We correct costly mistakes for seniors, every day, who enrolled themselves over the phone. Open Enrollment begins Oct 15. We make sure you are in the best plan for you, and you know all your options.
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