Medicare beneficiaries are looking forward to the changes in Part A premiums for the 2022 benefit period. Though there are those who receive Medicare Part A benefits premium-free, the monthly premiums are likely to see an increase the same as any new benefit period.
There won’t be changes any changes to the premium-free Part A. If you paid Medicare taxes for more than 40 quarters through payroll or by paying it yourself, you are eligible for the premium-free Part A. You won’t pay a single dime in monthly premiums but will have a deductible you’ll need to meet.
Medicare Part A deductible 2022
Medicare Part A deductible is currently $1,484. This amount will see an increase in 2022. We speculate the Part A deductible for the 2022 benefit period to be somewhere around $1,500. Every year, there is a slight increase of between $20 and $40.
After the deductible is met, you won’t pay coinsurance for up to 60 days every benefit period. This will remain the same in 2022, but the likelihood of coinsurance paid beyond 60 days increasing isn’t far off. For the time being, coinsurance starts at $371 per day and can be as much as $742. When all lifetime reserve days are used up, the Medicare beneficiary bears the total in-hospital treatment costs.
Medicare Part A monthly premium amounts
As mentioned above, you can get Medicare Part A premium-free if you paid Medicare taxes for 40 or more quarters. If the Medicare taxes paid is less than 40 quarters, you’ll need to pay monthly premiums.
Expect to pay $259 if you paid Medicare taxes for 30 to 39 quarters.
Expect to pay $471 if you paid Medicare taxes for less than 30 quarters.
Medicare Part B deductible and monthly premiums
There isn’t a premium-free version of Part B, regardless of how long you’ve paid Medicare taxes, unlike the Part A coverage. However, the standard monthly premium is significantly less than Part A. You’ll currently pay $148.5 per month in premiums. But, this can be more if you’re a higher-income beneficiary.
The Part B deductible is $203. After you meet the deductible, you will pay about 1/5 or 1/4 of the Medicare-approved prices for the medical services you receive.
These amounts are going to change in 2022 as soon as the Centers for Medicare and Medicaid Services announce the new rates.