Medicare Part B premiums for 2022 jump by 14.5% from this year, far above the estimated rise in cost

Personal finance

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The standard premium for Medicare’s outpatient care coverage will jump by 14.5% for 2022, far outpacing an earlier estimate of 6.7%, according to the government.

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, said a senior official for the Centers for Medicare & Medicaid Services on Friday. The program’s trustees had estimated this summer that the premium would rise to $158.50.

The deductible for Part B will be $233, up $30 (14.8%) from this year.

The bigger-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.

Meanwhile, the deductible for Medicare Part A (hospital coverage) per benefit period (which generally starts when you are admitted to the hospital) will be $1,556 in 2022, up $72 from this year’s $1,484.

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