On November 12, 2021, the Centers for Medicare and Medicaid Services (CMS) announced that premiums for Medicare Part B would increase by 5.6%, the largest increase in thirty-years. Medicare Part B covers both preventative and medically necessary services for individuals over the age of 65, people with disabilities, or those with End-Stage-Renal-Disease. Preventative and medically necessary services include physician services, outpatient hospital services, certain home health services, durable medical equipment, and certain other medical and health services not covered by Medicare Part A. In 2021, the monthly premium for Medicare Part B beneficiaries was $148.50; in 2022 this will be increased to $170.10 per month. CMS explained that this increase was necessary due to the cost of a new Alzheimer’s drug which could increase Medicare spending. The full announcement can be read here.
Last Updated on November 24, 2021 by Aimed Alliance
