Medicare Part B enrollees won't be expecting a lower monthly premium this 2022. The standard monthly premium of $170.10 is still enforced but will be lower by 2023.
Medicare Part B is available for seniors ages 65 years and above and must be permanent U.S residents or citizens living in the U.S for a minimum of five consecutive years. The coverage includes doctor's visits, outpatient services, and diagnostic tests. With the recent $21.60 premium increase, secretary Xavier Becerra of the U.S Health and Human Services prompted CMS (Centers for Medicare and Medicaid Services) to reassess this current change.
One of the reasons for the premium increase is the cost of Aduhelm, an Alzheimer's drug that was recently approved by the FDA and set to be priced at $56K per year which has been highly debated. After much discussion with Biogen, the original cost was reduced to half, estimated at $28,200 per annum as of January 1, 2022. However, the coverage for Aduhelm will be limited to enrollees whose clinical trials are approved.
While waiting for CMS to announce the 2023 Part B premium this October 2022, it is decided that it would reflect all of the savings onto those beneficiaries who are eligible for Aduhelm.
So, what does this mean for Medicare Part B enrollees? The Part B premium for next year may be lower, however, you can look forward to a potential premium cut in 2023, not 2022.
If you're looking for more comprehensive coverage than what Medicare Part B offers, you may consider replacing Original Medicare with a Medicare Advantage plan. Private insurance companies offer Medicare Advantage plans and typically include prescription drug coverage and other benefits like dental, vision, and hearing.
Opting for a Medicare Advantage plan to your existing Medicare Part B coverage can help you save money on your overall healthcare costs. And, if you enroll in a Medicare Advantage plan that includes prescription drug coverage, you'll be able to get your medications at a lower…
This is the "wpengine" admin user that our staff uses to gain access to your admin area to provide support and troubleshooting. It can only be accessed by a button in our secure log that auto generates a password and dumps that password after the staff member has logged in. We have taken extreme measures to ensure that our own user is not going to be misused to harm any of our clients sites.
We are an award-winning platform that caters to small businesses, content creators, and resellers, offering them the opportunity to enhance their content’s reach through its robust ecosystem. Businesses can submit press releases, share their personal or business brand’s narrative, announce new products, and leverage social media for broader distribution. We help expand your reach & assist you accurately gauge the effectiveness of your public relations efforts that fortifies your brand identity.