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Developed by the Medicare Rights Center, Medicare Watch is a weekly newsletter providing Medicare news and policy developments, as well as useful Medicare reminders.
November 18, 2021 | Volume 12, Issue 43

CMS Announces Part B Premium Increase

On Friday, the Centers for Medicare & Medicaid Services (CMS) announced the Medicare Part B standard monthly premium would be increasing by 15% ($21.60) in 2022, from $148.50 to $170.10. While this significant jump is the largest in 15 years, for most beneficiaries, the 5.9% cost-of-living adjustment (COLA) to Social Security benefits in 2022—the largest COLA in 30 years—will absorb the increase.

Among the key reasons CMS cites for the premium spike is the need for a contingency reserve to cover the potential costs of the expensive and controversial Alzheimer’s drug Aduhelm, for which a coverage decision is expected next year.
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Analysis Shows Benefits for People with Medicare in the Current “Build Back Better” Bill

As the “Build Back Better” (BBB) budget reconciliation bill begins its journey through Congress, the Kaiser Family Foundation (KFF) has updated a valuable resource explaining the budgetary effects and huge public good of many of the bill’s major health provisions. These provisions include several that have been long-standing goals of the Medicare Rights Center, including Medicare prescription drug negotiation to lower drug costs, especially insulin; limiting the amount Part D enrollees pay out-of-pocket each year; adding a hearing benefit to Medicare; expanding availability of Home- and Community-Based Services (HCBS) through Medicaid; and closing the Medicaid coverage gap.

One of the most promising aspects of the BBB would be the proposal to allow Medicare to negotiate prescription drug prices. Currently, the program is not permitted to negotiate, unlike other programs like the Veteran’s Administration that negotiate steep discounts on many drugs. While the BBB’s current negotiation provisions are not as robust as some previous bills, they would be a meaningful step toward reducing prices for people with Medicare. KFF notes that it is unclear currently how many people would be affected, but it would be likely to reduce Part D premiums for all enrollees and reduce costs for insulin-dependent diabetics.
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Spotlight

This #GivingTuesday, help the Medicare Rights Center assist more people like Jose who cannot afford their health care.

Next week, Medicare Rights is participating in #GivingTuesday, a global day dedicated to giving, and we would appreciate your support.
 
Last year alone, Medicare Rights assisted millions of older adults, people with disabilities, and their families through our counseling, education, and public policy efforts. Your tax-deductible gift this #GivingTuesday will directly support our work and help those who rely on Medicare today and for the future.
 
Any amount you can give makes a difference. Thank you for considering donating in support of Medicare Rights!

 

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Medicare Reminder

If you need to enroll in Medicare Part D for the first time, typically you will do so either during your Initial Enrollment Period (IEP), the Fall Open Enrollment Period, or if you qualify for a Special Enrollment Period (SEP). Additionally, you must:

  • Have Part A and/or Part B
  • And, live in the Part D plan’s service area

Your Part D IEP is usually the same as your Medicare IEP: the seven-month period that includes the three months before, the month of, and the three months following your 65th birthday. For example, let’s say you turn 65 in May. Your IEP runs from February 1 to August 31.

The date when your Part D coverage begins depends on when you sign up:

  • Enrolling during the first three months of the IEP means coverage begins the first day of the fourth month.
  • Enrolling during the fourth month of the IEP or any of the three months afterwards means coverage begins the month following the month of enrollment.

You should enroll in Part D as soon as you are eligible to avoid a potential late enrollment penalty (LEP) and gaps in coverage. If you do not enroll in Part D during your IEP, you can also enroll in or make changes to Part D coverage during the Fall Open Enrollment Period—but you may have a late enrollment penalty if you are using Fall Open Enrollment to enroll in Part D for the first time.

Under certain circumstances, you may have an SEP to enroll in a Part D plan, including if you:

Note: If you are enrolled in Medicare because of a disability and currently pay a premium penalty, once you turn 65 you will no longer have to pay the penalty. This is because you will qualify for a new Part D IEP when you turn 65.

Medicare Rights works to protect and strengthen Medicare to ensure access to affordable health care for older adults and people with disabilities. Our work is made possible by your donations. Please consider making a tax-deductible contribution today.
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