The Year of Soaring Prices:
Shocking Medicare Updates 2022
Along with everything else going up this year, these Medicare updates 2022, are right there to add to the cherry on top.
The video to the right will explain these Medicare updates 2022 in a short and easy to understand presentation.
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What are the Medicare updates 2022?
As the first quarter of the year wrapped up, millions of individuals on Medicare are starting to feel these Medicare Updates 2022.
These updates for Original Medicare are the most impacting changes affecting Medicare beneficiaries this year.
There are Medicare changes for 2022 in Part A, Part B, Part D, and a new item covered.
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What are the changes for Medicare Part A?
Medicare Part A, which helps cover hospital, skilled nursing, hospice, lab tests, surgery, and home healthcare has a deductible. For 2022, the deductible is $1,556.
There was a $72 increase from 2021 to 2022.
What will be Medicare premiums for 2022?
Medicare Part B Changes
Medicare Part B also had an increase in premium for 2022.
The standard Part B premiums is $170.10, which had an increase of $21.60 more from last year. If you noticed less money on your social security check, this is one of the reasons.
Not only did Medicare Part B premium go up, but also the Part B deductible. For 2022 the Part B deductible is $233, an increase of $30.
Part B covers doctor visits, lab tests, preventive services and some medication administered at a healthcare facility.
Are there Prescription Drug changes for Medicare 2022?
Prescription drug plans is what makes up Medicare Part D. For 2022, Prescription Drug Plans cannot have a deductible exceed $480.
Medicare beneficiaries that use insulin will also notice that there were more options when comparing drug plans because 2,159 Medicare approved drug plans are participating in the $35 insulin program.
AARP stated that beneficiaries who are enrolled in original Medicare or a Medicare Advantage plan can sign up for this program.
When do Medicare deductibles reset?
All Medicare deductibles reset at the beginning of each year on January 1st.
TIP: If you have met your deductible and you have pending procedures, lab work, or tests, you should consider scheduling the services before the end of the year. Depending on your plan, for example a Medicare Supplement Plan G would not have co pays for Part B or Part A services, as long as they were deemed medically necessary and approved by Medicare.
What additional items is Medicare covering for 2022?
New Medicare Approved Item
CMS has just announced that Medicare will be providing COVID-19 free over the counter tests for Medicare individuals.
Centers for Medicare and Medicaid Services officials said more than 59 million Medicare Part B beneficiaries will get access to the Food and Drug Administration authorized or approved home tests at no cost during the COVID-19 public health emergency–according to Ken Alltucker from USA Today.
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Are you eligible for Medicare savings?
Did you know that there are multiple programs that offer assistance to help with Medicare costs. Find out if you qualify for any of the Medicare Help Programs available for 2022.
Disclaimer: We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1–800– MEDICARE to get information on all of your options.
Medicare Uncensored & Partner Brokers websites are owned and operated by Medlock and Associates. Medicare.medlockandassociates.com contains links to marketing content that may constitute a solicitation of insurance. Medicare Uncensored consists of licensed insurance brokers that may receive compensation if you make a purchase for insurance from any of the companies they are contracted with.
Medicare Uncensored & Partner Brokers are not sponsored or affiliated by the U.S. government or the federal Medicare program.
*By clicking and submitting consent on any of the ads, you are agreeing that Medicare Uncensored & any of its licensed Partner Brokers can contact you by your preferred method of contact with zero obligation to purchase insurance.
Year of Inflation
The Medicare updates 2022 are one of the highest increases ever.
To conclude, the COLA increase didn’t really help Medicare beneficiaries much.
With prices sky rocketing in groceries, gas, insurance, and Medicare, individuals on Medicare are finding it extremely hard to get by on a fixed income.
The rest of the year and next year will be extremely critical for Medicare beneficiaries trying to take it one day at a time to get by.
We are hopeful next year will bring in better news for Medicare beneficiaries, where they spend less money instead of more.
References:
Medicare Costs at a Glance [Internet], Medicare
[cited 1 April 2022]. Available here.
Part B Costs, [Internet], Medicare
[cited 1 April 2022]. Available here.
What Medicare Covers, [Internet], Medicare
[cited 1 April 2022]. Available here.
Biden-Harris Administration Announces a New Way
for Medicare Beneficiaries to Get Free Over-the-
Counter COVID-19 Tests, [Internet], CMS
[cited 1 April 2022]. Available here.
Ken Alltucker, Medicare enrollees can get free
COVID-19 home tests at more than a dozen
retail pharmacies [Internet], USA Today
[cited 1 April 2022]. Available here.
Dena Bunis, Biggest Medicare Changes for 2022
[Internet], AARP [cited 1 April 2022]. Available here.
