Biden admin hikes Medicare premiums, blames drug costs and pandemic | Eastern North Carolina Now

The Medicare Part B standard monthly premium will rise by nearly $22 to $170.10 next year, the Centers for Medicare & Medicaid Services said.

In addition to the monthly premium, the annual deductible will rise from $203 to $233. Also, Medicare Part A inpatient deductibles will jump $72 to $1,556 next year, and Medicare part A daily coinsurance and skilled nursing facility coinsurance will both increase at least $9.

Officials pointed out that many Americans covered by Medicare will see a net increase in Social Security benefits. The Social Security Administration announced last month that recipients will get a 5.9 percent increase in benefits.

However, the 14.5 percent jump in Medicare premiums—the highest since 2016—will eat up the entire adjustment for Social Security recipients with the lowest benefits, according to Senior Citizens League, a nonpartisan seniors group.