2022 Medicare Costs

 

Unlike low-income health insurance that has no out-of-pocket expenses like Medicaid, most types of Medicare come with associated costs like coinsurances, copays, and other expenses. Medicare Part B and other types of Medicare will also charge what is known as a Medicare premium that is based on your income.  

 

2022 Medicare Costs for Part B

Medicare Part B covers doctor visits, lab tests, medical products, and associated costs, and this carries a monthly premium. In 2022 for the state of New Jersey, the average monthly premium is $170.10. This amount fluctuates depending on your income, but they look back at your income from two years ago.  Below is a chart with a breakdown of the Medicare Part B premium tiers.

 

If you have a low income the state of New Jersey may be able to help pay your Medicare premium.

Medicare B premium 2022

Medicare Part B has an annual deductible of $233  After that is reached Medicare pays 80% and you are responsible for 20% coinsurance.

 

What Are Associated Costs for Medicare Part A?

There are 2022 Medicare costs for both Part A and B Medicare plans, even though Part A typically does not charge a monthly premium. Associated costs for Medicare Part A are as follows for 2022:

 

  • No monthly premium ($499 is the monthly premium if you or your spouse did not work for 10 years)
  • $1,556 deductible for a hospital stay
  • $0 for the first 60 days of a benefit period
  • $389 per day for days 61 through 90
  • $0 for the first 20 days of a skilled nursing facility (SNF) stay
  • $194.50 per day for days 21-100 for an SNF stay
  • All costs past day 100 of an SNF stay

 

2022 Medicare Costs for Part D

 

If you enroll in Medicare Part D for prescription drugs, the average monthly premium is $33. This varies based on the particular Part D plan you enroll in. If you have a high income (same income brackets as Part B high income surcharge) you will have to pay a higher monthly premium for the drug plan plan you choose.  This monthly fee is added onto your Part D premium but is billed by Medicare (CMS) directly. For more information on costs on Part D check out our Part D page.

 

 

Speak with New Jersey Medicare Brokers today to discuss your options.

FORM NAME: Contact us for help with your Medicare options Edit d8d8448de4acf39f0d205239932f69cebadc8ef71bc2b9c3ac1d78a0cb314053

Drag and drop the fields to create your own form

Tick

Edit d8d8448de4acf39f0d205239932f69cebadc8ef71bc2b9c3ac1d78a0cb314053 Trash 10a167593d2e212f9eb8c8e282a1d3358e9862b45a877aa24a52bcc27dd4c1d1 Drag a79a51ae7c41df2c005cf922050e5260f58d79815ecefda6cc6b9f766577ae29

Tick

Tick

Edit d8d8448de4acf39f0d205239932f69cebadc8ef71bc2b9c3ac1d78a0cb314053 Trash 10a167593d2e212f9eb8c8e282a1d3358e9862b45a877aa24a52bcc27dd4c1d1 Drag a79a51ae7c41df2c005cf922050e5260f58d79815ecefda6cc6b9f766577ae29
Tick

Edit d8d8448de4acf39f0d205239932f69cebadc8ef71bc2b9c3ac1d78a0cb314053 Trash 10a167593d2e212f9eb8c8e282a1d3358e9862b45a877aa24a52bcc27dd4c1d1 Drag a79a51ae7c41df2c005cf922050e5260f58d79815ecefda6cc6b9f766577ae29

By hitting submit, a licensed agent will contact you regarding Medicare plans and products. The agent will give unbiased advice to help you decide the Medicare policy for your needs. This is a solicitation of insurance. If you choose to provide us with your email address we will use it only to send you our monthly newsletter or respond to your query. If you choose to unsubscribe, you’ll stop receiving any newsletters.