Update: Medicare “Part B” Premium On The Rise In 2022
At this point, what isn’t going up in price? It seems every day we learn of something new that has increased in price dramatically or will do so in the coming year. It appears Medicare will be no different.
Medicare's "Part B" outpatient premium will jump by $21.60 a month in 2022 ($259 for the year), which will be one of the largest increases ever. What kind of affect might that have on retired couples? Quite a big one.
We have described how inflation is causing headaches for seniors—as gas, food, and energy prices continue to rise, it creates concerns for those who have already retired and had planned out their retirement accordingly. Sure, everyone prepares for inflation. It’s inevitable. However, to see 6% inflation on a year-to-year basis as well as increases in energy prices by near 50%, it’s hard not to be blindsided by all these rising costs.
As we have said time and time again, 2021 has been a year of surprises, and some of these surprises have hit the wallets pretty hard. Make sure to continue to adjust your financial plans accordingly to any increase in expenses, whether it be through food prices or increased Medicare premiums.
