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Updated Premiums and Deductibles for Medicare

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Updated Premiums and Deductibles for Medicare

Higher than normal

Provided by AAA Retire, LLC

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.

AAA Retire may be reached at 1-800-978-7953 or AAARetire.com

Citations

1. CNBC.com, November 29, 2021

2. CNBC.com, November 12, 2021