Some seniors pay $ 578 a month for Medicare in 2022. Want to be one of them? | Smart Change: Personal Finance

Data source: Medicare.gov.

All in all, the Centers for Medicare & Medicaid Services estimates that about 7% of Medicare enrollees will be on the hook for IRMAAs by 2022. And it’s not just Part B that will cost higher employees more. Part D plans, which cover prescription medications, also come with supplements that follow the same income limits.

The only difference is that while there is a standard monthly Part B premium, there is no standard monthly premium for Part D. This is because premium costs vary from plan to plan.

Can you appeal your IRMAA?

If your situation has changed significantly since 2020, the year 2022’s IRMAAs are based on, then you may be eligible to have your supplement waived. This may apply if you have been divorced since 2020, or if your income has dropped significantly.

Otherwise, older people with higher salaries will have to prepare for more expensive Part B premiums. And to make matters worse, the annual Part B deduction also rises from $ 203 in 2021 to $ 233 in 2022. For those who earn enough money to be responsible for a monthly Part B premium of $ 578.30, it will not make the big difference. But for low- and moderate-wage earners and those who get most of their retirement income from social security, dealing with another stressful health expense.

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