A 14.5 percent increase in Part B premiums means monthly payments for people in the lowest income group will jump from $148.50 a month this year to $170.10 a month in 2022. Part B covers Medicare medical services, outpatient hospital services, certain home health services, medical devices. , and certain other medical and health services not covered by Medicare Part A, including drugs given in medical offices.
“Most people will see a significant increase in Social Security benefits with Medicare. For example, a retired worker who currently receives $1,565 a month from Social Security can expect a net increase of $70.40 more per month. But After the Medicare Part B premium is deducted.”
CMS said part of the increase was due to uncertainty about how much the agency would pay to treat beneficiaries treated with the Food and Drug Administration-approved Alzheimer’s drug Adolhem. will be done by The US over the objections of its advisers in June. Some experts estimate that it will cost $56,000 a year. Medicare is deciding whether you pay for it now on a case-by-case basis.
Because Aduhelm is administered in doctor’s offices, it must be covered by Medicare Part B plans, not Part D plans, which pay for drugs purchased at pharmacies. Enrollees in traditional Medicare are charged 20% of the cost of most Part B drugs, which translates to about $11,500 in out-of-pocket costs for those prescribed Aduhelm.
“The Part B premium increase for 2022 is continued evidence that rising drug costs threaten the affordability and sustainability of the Medicare program,” CMS Administrator Chiquita Brooks-LaSure said in a statement. “The Biden-Harris administration is working to make drug prices more affordable and equitable for all Americans, and advancing drug pricing reform through competition, innovation and transparency.”
Medicare is a federal health insurance plan that covers more than 62 million people, most of whom are 65 or older.