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Alzheimer's drug cited as Medicare premium jumps by $21.60

Medicare Premiums
Posted at 6:49 AM, Nov 13, 2021
and last updated 2021-11-13 06:49:35-05

WASHINGTON — 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.