Updated Premiums and Deductibles for Medicare


Updated Premiums and Deductibles for Medicare


by Brandon Miller on Feb 9, 2022

Health Care, Personal Finance, Financial Planning, Medicare

Medicare’s premiums and deductibles have seen a larger-than-expected rise this year. For example, Medicare Part B monthly premiums have risen to $170.10, a 14.5% increase. The deductible for Part B rose to $233. The Part A deductible increased to $1,556.1,2

If you didn’t take advantage of the recent open enrollment period, you aren’t alone. According to a recent survey from MedicareGuide.com, 67% of beneficiaries hadn’t looked at their choices by mid-November, while the Kaiser Family Foundation discovered that 71% don’t review their options at all during the open enrollment period.1

For many Americans, Medicare remains a vital program, keeping healthcare affordable. Open enrollment comes again from October 15 to December 7 of 2022, it is definitely worth your time to familiarize yourself with the changes and the options you might select for your coverage.
  
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Citations:
1. CNBC.com, November 29, 2021
2. CNBC.com, November 12, 2021