Late last week, CMS released the figures for what Medicare Parts A & B will cost in the coming year. We have updated our cost-sharing chart, which is attached here and included in the updated Medicare
Open Enrollment Toolkit at:
https://www.ncoa.org/article/medicare-open-enrollment-toolkit.
Of particular note is that the standard Part B premium will rise to a whopping $170.10/month. This year, roughly 2% of beneficiaries paid less than the standard Part B premium as a result of the hold
harmless provision (which means someone’s increased Medicare premium cannot reduce their Social Security benefit from one year to the next). In 2022, despite Social Security beneficiaries getting a 5.9% cost of living adjustment (COLA), it is expected that
with these higher premiums, even more people will be subject to the hold harmless rule. (Learn more here:
https://sgp.fas.org/crs/misc/R40082.pdf)
Thus, the value of the Medicare Savings Programs to your clients will be over $2,000 a year in 2022.
Brandy Bauer
(she, her, hers)
Director, MIPPA Resource Center
571-527-3911
ncoa.org | @NCOAging
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