Medicare costs set to rise for 2022 benefit period

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BECKLEY, WV (WVNS) — Prices for everything from food to gas are on the rise across the country due in part to inflation and supply chain issues. Adding to the list of rising prices is Medicare Part B beginning in 2022.

Medicare Part A for hospitalization deductibles will see an increase from $1,484 to $1,556. The rising costs will also hit the pockets of those with Medicare Part B. In 2021 the cost of Medicare Part B was $148.50 but for 2022, that will now rise to $170.10 to start.

Prices are contingent on income and eligibility of those that receive and/or opt in for Medicare and Medicare Part B. For those looking to reduce monthly spending, particularly those on fixed income, Mike Moore of Moore Insurance Services in Beckley said people should talk to someone about their concerns and the upcoming 2022 changes to their Medicare plans.

Mike Moore of Moore Insurance Services said, “People need to be alert because there is so much stuff flying around here. You know, radio, TV, newspapers, phone calls and you know the thing about it is people have to know, Medicare or Social Security is not going to call you on the phone. I’ve spent more time straightening out messes, or somebody talked to somebody from who knows where and got something and didn’t know what they got. Now they’re calling us back up saying please, can you get me out of it.”

For many people, their Medicare Part A is something they worked for all their lives to get and is worth protecting. Moore said aside from rising costs putting a hurt on fixed income families, making sure you have the right coverage for your needs is key to saving time, frustration, and money.

Moore continues by warning Medicare eligible people not to fall for scams as open enrollment comes to a close December 7th. Whether folks reach out to insurance agencies, senior citizen centers, or the Medicare help lines, making sure you have the correct information on plans from reliable sources will make the changes coming easier to navigate.

For more information on the new changes here’s a list of resources:
Medicare New Costs: Click Here
Medicare Approved Providers: Click Here
Medicare Contact Information: Click Here

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