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May Is Disability Insurance Awareness Month

 

2 min read

The Cost of Medicare Continues to Rise in 2022

By John Norce on 1/27/22 10:00 AM

Statistics show 96% of people over the age of 65, many of whom are your clients, are enrolled in Medicare Parts A and B. For decades, post-retirement medical expenses have been increasing faster than income growth. Therefore, when forecasting retirement expenses, it is important to keep up with the annual changes in Medicare costs and premiums.

Every November, the Centers for Medicare and Medicaid Services (CMS) release the medical costs for Medicare Parts A and B for the upcoming year. This includes the Income Related Monthly Adjustment Amounts (IRMAA) for Parts B and D, as well as premiums, copays, and coinsurance associated with the Medicare program.

Topics: Cost of Care Medicare

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