Deductibles will be higher as well.
The Centers for Medicare & Medicaid Services announced the standard premium for Medicare’s outpatient care coverage will jump by 14.5% for 2022. The number far outpaces an earlier estimate of a 6.7% increase.
The standard premium for Part B, which covers outpatient care and durable equipment, will be $170.10 next year, up $21.60 from $148.50 this year. The program’s trustees had earlier estimated the premium would rise to $158.50.
The deductible for Part B will be $233, up $30, or 14.8%, from this year.
Officials say the larger-than-anticipated increase is partly attributed to rising prices and utilization across the health care system and congressional action that limited the increase in the 2021 Part B premium. Additionally, contingency reserves have been increased to account for potential new treatment costs incurred by the program.
The deductible for hospital coverage—Part A—per benefit period will be $1,556 in 2022, up $72 from this year.
As the Lord Leads, Pray with Us…
- For seniors who, although receiving a cost-of-living increase in Social Security payments, will have the greater Medicare premiums to pay in 2022.
- For federal officials determining the budgetary needs as the cost of medical care rises, with or without insurance.
Sources: CNBC, CNS, The Hill
