Updated Premiums and Deductibles for Medicare | 70 + Older

June 10th, 2022 | | By the Ages

Higher than normal.

Medicare’s premiums and deductibles have seen a larger-than-expected rise this year. For example, Medicare Part B monthly premiums have risen to $170.10, a 14.5% increase. The deductible for Part B rose to $233. The Part A deductible increased to $1,556.1,2

If you didn’t take advantage of the recent open enrollment period, you aren’t alone. According to a recent survey from MedicareGuide.com, 67% of beneficiaries hadn’t looked at their choices by mid-November, while the Kaiser Family Foundation discovered that 71% don’t review their options at all during the open enrollment period.1

For many Americans, Medicare remains a vital program, keeping healthcare affordable. Open enrollment comes again from October 15 to December 7 of 2022, it is definitely worth your time to familiarize yourself with the changes and the options you might select for your coverage.

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.

Citations
1. CNBC.com, November 29, 2021
2. CNBC.com, November 12, 2021


Translating Stock Market Jargon | Under 30

Have you ever been confused by the jargon used on Wall Street? Allow me to translate some esoteric stock market terms into plain English. Blue […]

Why Does Family Wealth Fade Away? | Under 40

A lack of vision is often the answer to that question. Many are the stories of family wealth lost. In the late 19th century, industrial […]

5 Retirement Concerns Too Often Overlooked | Under 50

Baby boomers entering their “second acts” should think about these matters. Retirement is undeniably a major life and financial transition. Even so, baby boomers can […]

Top