Fedweek

The 2022 Medicare Part B (physicians and related services) premium will be $171.10 a month for most enrollees, an increase of $21.60 from 2021. Those with annual taxable incomes above a threshold ($91,000 for single filers and $182,000 for joint filers in 2021) also pay surcharges.

The Part B annual deductible will rise by $30 to $233.

ADVERTISEMENT

In Part A, which covers hospitalization and related costs, the deductible will rise to $1,556, an increase of $72, and proportionate boosts also will apply to coinsurance for periods longer than 60 days per benefit period, to $389 for days 6-90 and $778 for days 91 and beyond.

The average monthly premium for Part D prescription drug coverage (which few federal retirees choose because it largely duplicates what is covered under FEHB plans) is remaining about the same, around $33 a month. Most Part D plans have a deductible, whose maximum is rising from $445 to $480.

Meanwhile, the IRS has announced that the maximum that federal employees (but not retirees) can put in health care flexible spending accounts will rise for 2022 from $2,750 to $2,850. FSA elections (a dependent care account also is available, with the maximum remaining $5,000) must be made during the federal benefits open season that continues through December 13; those elections do not automatically carry over from one year to the next.

The IRS also has raised the maximum tax-free amount allowable under the public transit subsidy program from $270 to $280 a month. Policies vary among agencies and among locations within agencies, in some cases as set in labor-management contracts. Some pay a subsidy in the form of passes or vouchers purchased by the agency and others allow employees to reduce their pre-tax income by an amount equal to their transit or van pool expenses up to the maximum. The much-less-used tax-free benefit for parking at a transit subsidy is rising in the same way.

Open Season Choices: FEHB, FEDVIP, FSAs

Attention Returning to Stalled ‘Reentry’ Plans

Agencies Encouraged to Use Telework, Remote Work Routinely

Telework, Remote Work Not Mentioned as Accommodations for the Unvaccinated

Turnover – Voluntary or Not – Expected Due to Vaccine Mandate

TSP Investors Handbook, New 7th Edition