Social Security recipients recently got the good news that come January, their cost of living adjustment (COLA) will rise more than it has in decades. Now more good news as, according to the Centers for Medicare & Medicaid Services (CMS), the average monthly premium for a Medicare Advantage (MA) plan is projected to drop 11% in 2022 to just $21.22. The CMS also projected that Medicare enrollees who buy Part D drug coverage will see their premium rise from $31.47 this year to $33 next year (Source AARP Bulletin, November 2021 Issue, page 4).
