Part B Insider (Multispecialty) Coding Alert

With Medicare policy changes coming out weekly, you’re probably used to fielding daily questions from beneficiaries. However, you may want to prepare for consternation from patients now that Medicare announced it was significantly increasing its 2022 Part B premiums.

Details: The Centers for Medicare & Medicaid Services (CMS) announced that it was increasing the Part B standard monthly premium from $148.50 in 2021 to $170.10 in 2022.

Why? Rising Part B drug prices coupled with COVID-19 legislation and spending resulted in the need to make the 2022 increase, according to a CMS release. Plus, CMS is still determining whether it will cover the cost of the Alzheimer’s drug, Aduhelm, which was recently approved by the U.S. Food and Drug Administration (FDA) — and that also factors into bolstering “additional contingency reserves,” the agency says.

There is some good news to pass on to your beneficiaries: “Most people with Medicare will see a 5.9 percent cost-of-living adjustment (COLA) in their 2022 Social Security benefits — the largest COLA in 30 years. This significant COLA increase will more than cover the increase in the Medicare Part B monthly premium,” CMS maintains.

See the Part B premium update at www.cms.gov/newsroom/press-releases/cms-announces-2022-medicare-part-b-premiums.

---