December 13, 2021 1:37 am

Medicare Premiums Increase for 2022

The CMS announced premiums and deductibles for Medicare in 2022 (, 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.

Tax Glossary

Investment in the contract

The total cost investment in an annuity. When annuity payments are made, the portion allocable to the cost investment is tax free.

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