WASHINGTON (AP) — Medicare’s “Part B” outpatient premium will jump by $21.60 a month in 2022, one of the largest increases ever.
Officials said Friday a new Alzheimer’s drug is responsible for about half of that. The increase guarantees that health care costs will gobble up a big chunk of the recently announced Social Security cost-of-living allowance, a boost that had worked out to $92 a month for the average retired worker.
The announcement on premiums comes as Congress is considering Democratic legislation that would curb what Medicare pays for medications.
The new Part B premium will be $170.10 a month.