December 13, 2021 1:37 am

Medicare Premiums Increase for 2022

The CMS announced premiums and deductibles for Medicare in 2022 (CMS.gov, 11/15/21). The basic Part B monthly premium for 2022 is $170.10, or $21.60 more than in 2021. For those with modified adjusted gross income (MAGI) in 2020 over a threshold amount, there is an additional Part B and Part D premium in 2022. The threshold amounts have been adjusted for inflation. For example, a married person filing jointly paid additional premiums in 2021 if 2019 MAGI exceeded $176,000. The threshold for 2020 MAGI used to determine the additional premiums in 2022 is $182,000. As MAGI increases, so do the additional premiums for 2022. Find a complete breakdown of the premiums and deductibles for 2022 from the CMS.

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Tax Glossary

Section 1231 property

Depreciable property used in a trade or business and held for more than a year. All Section 1231 gains and losses are netted; a net gain is treated as capital gain, a net loss as an ordinary loss.

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