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What Will You Pay for Medicare in 2022?

Medicare premiums, deductibles, and coinsurance amounts change annually. Here’s a look at some of the costs that will apply in 2022 if you’re enrolled in Original Medicare Part A and Part B.

Medicare Part B premiums
According to the Centers for Medicare & Medicaid Services (CMS), most people with Medicare who receive Social Security benefits will pay the standard monthly Part B premium of $170.10 in 2022.

People with higher incomes may pay more than the standard premium. If your modified adjusted gross income (MAGI) as reported on your federal income tax return from two years ago (2020) is above a certain amount, you’ll pay the standard premium amount and an Income-Related Monthly Adjustment Amount (IRMAA), which is an extra charge added to your premium, as shown in the following table.

You filed an individual income tax return with MAGI that   was: You filed a joint income tax return with   MAGI that was: You filed an income tax return as married   filing separately with MAGI that was: Monthly premium in 2022 including any IRMAA   is:
$91,000   or less $182,000 or less $91,000 or less $170.10
Above $91,000 up to $114,000 Above $182,000 up to $228,000 N/A $238.10
Above   $114,000 up to $142,000 Above $228,000 up to   $284,000 N/A $340.20
Above $142,000 up to $170,000 Above $284,000 up to $340,000 N/A $442.30
Above   $170,000 and less than $500,000 Above $340,000 and less   than $750,000 Above $91,000 and less   than $409,000 $544.30
$500,000 and above $750,000 and above $409,000 and above $578.30

Other Medicare costs
The following out-of-pocket costs for Original Medicare Part A and Part B apply in 2022:

  • Part A deductible for inpatient hospitalization: $1,556 per benefit period
  • Part A premium for those who need to buy coverage: up to $499 per month (most people don’t pay a premium for Medicare Part A)
  • Part A coinsurance: $389 per day for days 61 through 90, and $778 per “lifetime reserve day” after day 90 (up to a 60-day lifetime maximum)
  • Part A skilled nursing facility coinsurance: $194.50 for days 21 through 100 (for each benefit period)
  • Part B annual deductible: $233

Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, legal, or retirement advice or recommendations. The information presented here is not specific to any individual’s personal circumstances.

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable — we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

This communication is strictly intended for individuals residing in the state(s) of FL. No offers may be made or accepted from any resident outside the specific states referenced.

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