What to Know About Medicare for 2022

KJ Martin
 | Published: 
March 21, 2022
 | Category: 
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What to Know About Medicare in 2022

Most of us need to understand Medicare sooner or later, whether we need to enroll ourselves or to help a loved one.

Today we answer a few frequently asked questions for those who are trying to learn more about the basics of Medicare this year.

Who is eligible and when?

You are eligible to enroll in Medicare three months before you turn 65 years old. Specifically, your initial enrollment period includes the 3 months before you turn 65, the month you turn 65, and 3 months after you turn 65 years old.

This is when most people choose to sign up for Part A (Hospital Insurance) and Part B (Medical Insurance) if they don't have employer health insurance coverage.

What does Medicare Part A cover?

Medicare Part A, which is free for most people, covers services such as hospital stays, skilled nursing facility stays, hospice care, nursing home care and home health care. In 2022, you’ll pay a deductible of $1,556 per benefit period.

Medicare then covers all your remaining costs for 60 days and portions of your costs after that.

What does Medicare Part B cover?

Part B covers services and supplies to prevent, diagnose and treat medical conditions. The base monthly premium for 2022 is $170.10, though you may pay more based on your income.

The annual deductible for Part B is $233 this year. After that, you usually pay 20% for services and supplies. Most preventive services are free through medical providers who accept Medicare.

Are there other coverages I need?

Most of us will also want prescription drug coverage. For that coverage, enroll in a Medicare drug plan, Medicare Advantage Plan or other Medicare health plan which includes drug coverage.

How do I enroll in Medicare?

If you’re already receiving Social Security benefits when you turn 65, the government will enroll you in Medicare Part A, as well as Part B if you selected it when you filed for benefits.

In other scenarios, you may need to apply proactively. Reach out to us today if you'd like some assistance.

Do you have questions about your current coverage or your future needs? Get in touch today.