As the Covid-19 pandemic has led to rising drug prices and costs, Medicare will increase Part B premiums next year. The minimum premium will increase by 14.5% to $170.10, much higher than $158.50 Estimated by the Medical Insurance Council this summer.
Medicare Part B covers a number of key services, including doctor services, outpatient hospital services, and durable medical equipment. It is a supplement to Part A of Medicare, which covers inpatient care in a hospital as well as care received in a nursing home, hospice or home.
According to the law, for insured persons aged 65 and above, the premium must cover 25% of the estimated cost of Part B. last year, The premium has not risen much Because as part of the “Continuing Appropriations Act”, Congress limited the increase in 2021, but now the Medicare and Medicaid Services Center must make up for those reduced premiums.
CMS also cited rising drug costs as a factor.The agency Currently under review Aduheim– Controversial Alzheimer’s disease drug The estimated price is $56,000-to determine whether to develop a national medical insurance coverage policy for the drug. Although the agency said there is “significant uncertainty” about Aduhelm’s future coverage, it still needs to set aside emergency reserves to cover unexpected increases in expenditures, including drug costs.
Deductible Will increase next year. The Part A deductible for up to two months of hospitalization will increase by US$72 to US$1,556. For Part B plans, the average deductible will increase by $30 to $233.
CMS Administrator Chiquita Brooks-LaSure said in a press release: “CMS is committed to ensuring that people who rely on Medicare today are provided with high-quality care and affordable insurance, while protecting the sustainability of Medicare for future generations.” “In 2022. The increase in Part B premiums continues to prove that rising drug costs threaten the affordability and sustainability of medical insurance plans.”
A provision of the “Rebuild Better Act” Will let medical insurance negotiate the price For some medicines, the drug company will be punished for higher prices than inflation. After failing to get the required votes earlier this month, The House of Representatives is reconsidering the bill.
At the same time, CMS stated that the increase in medical insurance premiums for most people should be offset by a 6% increase in the cost of living adjustment in social security benefits. People who receive $1,565 per month from the Social Security Administration will receive an additional $70.40 per month.
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