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Medicare’s Premiums and Important Dates

The Centers for Medicare & Medicaid Services (CMS) have released the Medicare Part A and Part B premiums, deductibles, and coinsurance amounts.

Medicare Part A Premium and Deductible Changes

Medicare Part A covers inpatient hospital services, skilled nursing facility services, hospice services, inpatient rehabilitation services, and some home health care services.

The Medicare Part A inpatient hospital deductible that beneficiaries pay is $1,556, an increase of $72 from $1,484 in 2021. The Part A inpatient hospital deductible covers beneficiaries’ share of costs for the first 60 days of Medicare-covered inpatient hospital care in a benefit period.

In 2022, beneficiaries must pay a daily coinsurance amount of $389 for days 61–90 of a hospitalization (vs. $371 in 2021) in a benefit period and $778 per day for lifetime reserve days (vs. $742 in 2021). For beneficiaries in skilled nursing facilities, the daily coinsurance for days 21–100 of extended care services in a benefit period is $194.50 (vs. $185.50 in 2021).1

Medicare Part B Premium and Deductible Changes

Medicare Part B covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and other medical and health services not covered by Medicare Part A.

Medicare Part B premium, deductible, and coinsurance rates are determined annually. The standard monthly premium for Medicare Part B enrollees is $170.10, an increase of $21.60 from last year. The annual deductible for all Medicare Part B beneficiaries $233, an increase of $30 from $203 in 2021.1

Important Medicare Dates

  • January 1: Medicare general enrollment begins.
  • January 1: Medicare Advantage enrollment begins.
  • January 15: Medicare Advantage and Part D rate release.
  • March 31: Medicare general enrollment ends.
  • March 31: Medicare Advantage enrollment ends.
  • April: Flu season ends.
  • September: Private plans send notice of any changes in cost, coverage, or service area.
  • October 15: Medicare open enrollment begins.
  • November: Flu season begins.1
  • November 6 (estimated): Medicare Part A and Part B premiums and deductibles announced.
  • December 7: Medicare open enrollment ends.

To learn more about how these changes could affect you, read about Medicare Parts A and B at CMS.gov.

  1. https://www.cms.gov/newsroom/fact-sheets/2022-medicare-parts-b-premiums-and-deductibles2022-medicare-part-d-income-related-monthly-adjustment

Financial Synergies

Financial Synergies Wealth Advisors is a fee-only Financial Advisor and Wealth Management firm located in Houston, Texas. For more than thirty-five years we’ve been serving the financial needs of individuals, families, and businesses from around the world. Our primary goal is to Simplify Your Financial Life. Our Certified Financial Planner™ professionals and advisors combine holistic financial planning and investment management to deliver Total Wealth Management for our clients.

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