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Ashford Insurance

2022 Medicare Costs

Medicare Made Easy

Medicare is the federal health insurance program for:

  • People who are 65 or older
  • Certain younger people with disabilities
  • People with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD)
Original Medicare is a fee-for-service health plan that has two parts: Part A (Hospital Insurance) and Part B (Medical Insurance). After you pay a deductible, Medicare pays its share of the Medicare-approved amount, and you pay your share (coinsurance and deductibles).
 

How Much Will Medicare Cost?

Medicare Part A covers inpatient hospital, skilled nursing facility, hospice, inpatient rehabilitation, and some home health care services. Most Medicare beneficiaries do not have a Part A premium since they have at least 40 quarters of Medicare-covered employment.

The Medicare Part A inpatient hospital deductible that beneficiaries pay if admitted to the hospital will be $1,556 in 2022. The Part A inpatient hospital deductible covers beneficiaries’ share of costs for the first 60 days of Medicare-covered inpatient hospital care in a benefit period. In 2022, beneficiaries must pay a coinsurance amount of $389 per day for the 61st through 90th day of a hospitalization in a benefit period and $778 per day for lifetime reserve days. For beneficiaries in skilled nursing facilities, the daily coinsurance for days 21 through 100 of extended care services in a benefit period will be $194.50 in 2022.

Part A Deductible and Coinsurance Amounts for Calendar Years 2021 and 2022
by Type of Cost Sharing

 

2021

2022

Inpatient hospital deductible

$1,484

$1,556

Daily coinsurance for 61st-90th Day

$371

$389

Daily coinsurance for lifetime reserve days

$742

$778

Skilled Nursing Facility coinsurance

$185.50

$194.50

Enrollees age 65 and over who have fewer than 40 quarters of coverage and certain persons with disabilities pay a monthly premium in order to voluntarily enroll in Medicare Part A. Individuals who had at least 30 quarters of coverage or were married to someone with at least 30 quarters of coverage may buy into Part A at a reduced monthly premium rate, which will be $274 in 2022. Certain uninsured aged individuals who have less than 30 quarters of coverage and certain individuals with disabilities who have exhausted other entitlement will pay the full premium, which will be $499 a month in 2022.

For more information on the 2022 Medicare Parts A and B premiums and deductibles (CMS-8077-N, CMS-8078-N, CMS-8079-N), please visit https://www.federalregister.gov/public-inspection.

Medicare Part B Premium and Deductible

Medicare Part B covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and certain other medical and health services not covered by Medicare Part A. 

The standard monthly premium for Medicare Part B enrollees will be $170.10 for 2022. The annual deductible for all Medicare Part B beneficiaries is $233 in 2022.

Medicare Part B Income-Related Monthly Adjustment Amounts

The 2022 Part B total premiums for high-income beneficiaries are shown in the following table:

Beneficiaries who file individual tax returns with modified adjusted gross income:

Beneficiaries who file joint tax returns with modified adjusted gross income:

Income-related monthly adjustment amount

Total monthly premium amount

Less than or equal to $91,000

Less than or equal to $182,000

$0.00

$170.10

Greater than $91,000 and less than or equal to $114,000

Greater than $182,000 and less than or equal to $228,000

68.00

238.10

Greater than $114,000 and less than or equal to $142,000

Greater than $228,000 and less than or equal to $284,000

170.10

340.20

Greater than $142,000 and less than or equal to $170,000

Greater than $284,000 and less than or equal to $340,000

272.20

442.30

Greater than $170,000 and less than $500,000

Greater than $340,000 and less than $750,000

374.20

544.30

Greater than or equal to $500,000

Greater than or equal to $750,000

408.20

578.30

Premiums for high-income beneficiaries who are married and lived with their spouse at any time during the taxable year, but file a separate return, are as follows:

Beneficiaries who are married and lived with their spouses at any time during the year, but who file separate tax returns from their spouses, with modified adjusted gross income:

Income-related monthly adjustment amount

Total monthly premium amount

Less than or equal to $91,000

$0.00

$170.10

Greater than $91,000 and less than $409,000

374.20

544.30

Greater than or equal to $409,000

408.20

578.30

Medicare Part D Income-Related Monthly Adjustment Amounts

The Medicare Part D monthly premium is based on income. These income-related monthly adjustment amounts affect a small percentage of people with Medicare Part D. These individuals will pay the income-related monthly adjustment amount in addition to their Part D premium. Part D premiums vary from plan to plan and roughly two-thirds are paid directly to the plan, with the remaining deducted from Social Security benefit checks. The Part D income-related monthly adjustment amounts are all deducted from Social Security benefit checks. The 2022 Part D income-related monthly adjustment amounts for high-income beneficiaries are shown in the following table:

Beneficiaries who file individual tax returns with modified adjusted gross income:

Beneficiaries who file joint tax returns with modified adjusted gross income:

Income-related monthly adjustment amount

Less than or equal to $91,000

Less than or equal to $182,000

$0.00

Greater than $91,000 and less than or equal to $114,000

Greater than $182,000 and less than or equal to $228,000

12.40

Greater than $114,000 and less than or equal to $142,000

Greater than $228,000 and less than or equal to $284,000

32.10

Greater than $142,000 and less than or equal to $170,000

Greater than $284,000 and less than or equal to $340,000

51.70

Greater than $170,000 and less than $500,000

Greater than $340,000 and less than $750,000

71.30

Greater than or equal to $500,000

Greater than or equal to $750,000

77.90

Premiums for high-income beneficiaries who are married and lived with their spouse at any time during the taxable year, but file a separate return, are as follows:

Beneficiaries who are married and lived with their spouses at any time during the year, but file separate tax returns from their spouses, with modified adjusted gross income:

Income-related monthly adjustment amount

Less than or equal to $91,000

$0.00

Greater than $91,000 and less than $409,000

71.30

Greater than or equal to $409,000

77.90

 

Need help? Call us for an appointment at (817) 952-3153

Ashford Insurance Agents

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(817) 952-3153

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Weekends & Evenings by Appointment

Address 1245 Southridge Court Suite 101, Hurst, TX, 76053

* A licensed sales agent may call or e-mail as a result of completing the information to discuss Medicare Advantage, Prescription Drug Plans or Medicare Supplement Insurance.

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