Learn why you may be able to retire earlier than you think.
This field is for validation purposes and should be left unchanged.

2022 Medicare Premium Adjustments

The new 2022 Medicare premium adjustments are in, and they are substantial.  Medicare Part B recipients will be seeing the most significant dollar increase in the program’s history next year due to increased service costs.  Monthly Part B premiums will increase by $21.60 in 2022, almost a 14% increase from $148.50 in 2021.  There are several reasons the Centers for Medicare & Medicaid Services (CMS) have sighted for the premium increase:

  • Rising healthcare costs and increased use of the Medicare system
  • The limited 2021 Medicare Part B monthly increase as part of the Continuing Appropriations Act
  • CMS is also setting funds aside in the event that Medicare will cover a new Alzheimer’s drug, Aduhelm, and similar drugs to treat Alzheimer’s.  Aduhelm has recently been approved by the Food & Drug Administration (FDA).

While the Part B premium increase is the largest we have seen, the Social Security Cost of Living Adjustment (COLA) is the largest in almost 30 years, with an estimated average increase of $71.40 per recipient.  Those Social Security recipients whose Part B premiums are deducted from their benefits will likely still see a net increase in their monthly check.

The Part B premium increase doesn’t include other increases to Medicare deductibles, co-insurance, and additional general health care costs.  Just a reminder that Medicare open enrollment started October 15, 2021, and ends on December 7, 2021. This open enrollment period is when you can pick a new plan and compare plan options.   Coverage costs vary among Medicare supplement and Part D plans, so it makes sense to review your coverage and make sure you are receiving the best benefits coverage for your needs.

Schedule A Financial Consultation

  • This field is for validation purposes and should be left unchanged.

Are We Right for You?

Schedule Your Complimentary Consultation Today!

About Us

Bernicke Wealth Management, Ltd. (Bernicke) is an independent, multi-disciplinary firm with 25 employees located outside Eau Claire, in Altoona, Wisconsin. Our financial advisers provide wealth management services for individual investors, businesses, foundations, and nonprofits, including investment planning, retirement planning, estate planning, and tax planning.

© 2022 Bernicke Wealth Management, Ltd.

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Great Valley Advisor Group, a registered investment advisor. Great Valley Advisor Group and Bernicke Wealth Management are separate entities from LPL Financial. The LPL Financial registered representatives associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.