Medicare Premiums for 2022 and 2022
Updated: October 13, 2022
Written by Veteran.com
In 2023, part B Medicare premiums will decrease by $5.20 per month to $164.90. The decrease comes after last year’s $21.60 monthly increase to $170.10, according to the Centers for Medicare and Medicaid Services.
The annual deductible for all Medicare Part B beneficiaries is $233 in 2022, a $30 increase from 2021. In 2023, Medicare Part B will decrease by $7 to $226.
When Medicare increases, Social Security cost-of-living adjustments are supposed to cover the difference. When COLA is insufficient to cover Medicare, the hold harmless rule can protect most recipients, according to the Social Security Administration. This rule prevents benefits from decreasing from one year to the next.
What Is the Hold Harmless Provision?
The hold harmless provision prevents Social Security benefits from declining due to increases in Medicare Plan B.
The hold harmless rule protects most social security recipients. Their Part B premium costs will not increase more than their COLA increases as long as:
- They were entitled to Social Security benefits for November and December of the previous year
- Medicare Part B premiums were deducted from their Social Security benefits between November of the previous year and January of the current year
- They don’t pay higher Part B premiums because of Income-Related Monthly Adjustment Amount (IRMAA) eligibility
The hold-harmless provision does not protect those who:
- Are new to Medicare Plan B
- Are subject to IRMAA
- Are enrolled in a Medicare Savings Program (MSP)
- No longer qualify for MSP due to an increase in income or you didn’t renew
Will Social Security Cover Medicare in 2023?
For the first time in more than a decade, Medicare premiums will not increase in 2023. Instead, they will decrease, while the Social Security Administation’s cost-of-living adjustment (COLA) will increase by 8.7%.
“Medicare premiums are going down and Social Security benefits are going up in 2023, which will give seniors more peace of mind and breathing room,” said Social Security Administration Acting Commissioner Kilolo Kijakazi.
“This year’s substantial Social Security cost-of-living adjustment is the first time in over a decade that Medicare premiums are not rising and shows that we can provide more support to older Americans who count on the benefits they have earned.”
Medicare Update: Coverage of Immunosuppressive Drugs in 2023
Beginning in 2023, medicare enrollees who had a kidney transplant and lost full Medicare coverage can pay a monthly premium to continue Part B coverage for immunosuppressive drugs.
The immunosuppressive drug premium for 2023 is $97.10.
2022 Medicare Part B Premiums
Medicare Part B monthly premiums are based on the beneficiary’s income. Most people pay the standard amount. Those with higher incomes pay an income-related monthly adjustment amount (IRMAA).
Here are the total premiums for high-income beneficiaries:
2022 Medicare Part B Premiums
A beneficiary’s Part B monthly premium is based on his or her income. These income-related monthly adjustment amounts (IRMAA) affect roughly 5% of people with Medicare Part B. Here are the total premiums for high income beneficiaries:| Individual Income | Married Filing Jointly income | Income-related monthly adjustment amount: | Total monthly premium amount: |
|---|---|---|---|
| Less than or equal to $91,000 | Less than or equal to $182,000 | $0 | $170.10 |
| Greater than $91,000 and less than or equal to $114,000 | Greater than $182,000 and less than or equal to $228,000 | $68 | $238.10 |
| Greater than $114,000 and less than or equal to $142,000 | Greater than $228,000 and less than or equal to $284,000 | $170.10 | $340.20 |
| Greater than $142,000 and less than or equal to $170,000 | Greater than $284,000 and less than or equal to $340,000 | $272.20 | $442.30 |
| Greater than $170,000 and less than $500,000 | Greater than $340,000 and less than $750,000 | $374.20 | $544.30 |
| Greater than or equal to $500,000 | Greater than or equal to $750,000 | $408.20 | $578.30 |
| Married Filing Jointly Income | Monthly Adjustment Amount | Total Monthly Premium Amount |
|---|---|---|
| Less than or equal to $91,000 | $0 | $170.10 |
| Between $91,000 and $409,000 | $374.20 | $544.30 |
| Greater than or equal to $409,000 | $408.20 | $578.30 |
2023 Medicare Part B Premiums
Here are the 2023 Medicare premiums for Part B coverage.
| Income for Beneficiaries Filing Individual Tax Returns | Income for Beneficiaries Filing Joint Tax Returns | Income for Married Beneficiaries Filing Separate Tax Returns | Income Related Monthly Adjustment | Total Monthly Premium |
|---|---|---|---|---|
| Less than or equal to $97,000 | Less than or equal to $194,000 | Less than or equal to $97,000 | $0 | $164.90 |
| Greater than $97,000 and less than or equal to $123,000 | Greater than $194,000 and less than or equal to $246,000 | $65.90 | $230.80 | |
| Greater than $123,000 and less than or equal to $153,000 | Greater than $246,000 and less than or equal to $306,000 | $164.80 | $329.70 | |
| Greater than $153,000 and less than or equal to $183,000 | Greater than $306,000 and less than or equal to $366,000 | $263.70 | $428.60 | |
| Greater than $183,000 and less than $500,000 | Greater than $366,000 and less than $750,000 | Greater than $97,000 and less than $403,000 | $362.60 | $527.50 |
| Greater than or equal to $500,000 | Greater than or equal to $750,000 | Greater than or equal to $403,000 | $395.60 | $560.50 |
Here are the 2023 Medicare Part B premiums for immunosuppressive drug coverage only.
| Beneficiaries Filing Individual Tax Returns | Beneficiaries Filing Joint Tax Returns | Married Beneficiaries Filing Separate Tax Returns | Income Related Monthly Adjustment | Total Monthly Premium |
|---|---|---|---|---|
| Less than or equal to $97,000 | Less than or equal to $194,000 | Less than or equal to $97,000 | $0 | $97.10 |
| Greater than $97,000 and less than or equal to $123,000 | Greater than $194,000 and less than or equal to $246,000 | $64.70 | $161.80 | |
| Greater than $123,000 and less than or equal to $153,000 | Greater than $246,000 and less than or equal to $306,000 | $161.80 | $258.90 | |
| Greater than $153,000 and less than or equal to $183,000 | Greater than $306,000 and less than or equal to $366,000 | $258.90 | $356.00 | |
| Greater than $183,000 and less than $500,000 | Greater than $366,000 and less than $750,000 | Greater than $97,000 and less than $403,000 | $356.00 | $453.10 |
| Greater than or equal to $500,000 | Greater than or equal to $750,000 | Greater than or equal to $403,000 | $388.40 | $485.50 |
Medicare Part A Premiums
Most Medicare beneficiaries do not pay Part A premiums for hospital coverage because they or their spouses have at least 40 quarters (10 years) of Medicare-covered employment.
2022 Medicare Part A Costs
- $1,556 for hospital inpatient deductible
- $389 for daily coinsurance for the 61st to st to 90thth days
- $778 for daily coinsurance for up to 60 lifetime reserve days
- $194.50 for skilled nursing facility coinsurance for the 21st to 100th days
2023 Medicare Part A Costs
- $1,600 for hospital inpatient deductible
- $400 for daily coinsurance for the 61st to st to 90thth days
- $800 for daily coinsurance for up to 60 lifetime reserve days
- $200 for skilled nursing facility coinsurance for the 21st to 100th days
Medicare Advantage (Medicare Part C)
For 2022 and 2023 Medicare Advantage, also known as Medicare Part C, the amount you pay for premiums, deductibles, copayments and/or coinsurance varies by plan.
Medicare Part D Prescription Drug Plan Premium
The monthly premium for the 2022 and 2023 Medicare Part D Prescription Drug Plan also varies by plan. Higher-income consumers may pay more.
Medicare Definitions
- Medicare Part A covers inpatient hospital and skilled nursing facility care, hospice and some home health care services.
- Medicare Part B covers preventive care, physician services, outpatient hospital services, certain home health services, durable medical equipment, mental health care and other services.
- Medicare Part B (Medicare Advantage) plans are are Medicare-approved private health insurance plans for individuals that include Parts A and B plans. They may also include vision care and prescription glasses, dental care, hearing aids and other services.
- Medicare Part D is the Medicare prescription drug benefit, an optional program to help Medicare beneficiaries pay for outpatient prescription drugs through prescription drug insurance premiums. The costs of many professionally administered drug prescriptions are covered under Medicare Part B.
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