Will there be an increase in Medicare premiums for 2023?


Editorial team Published on

No, Medicare Part B premiums did not increase for 2023; instead, the standard monthly premium decreased.

šŸ“‰ 2023 Medicare Part B Changes

  • Standard Premium: Decreased by $5.20 to $164.90 per month (down from $170.10 in 2022).
  • Annual Deductible: Decreased by $7.00 to $226.00 (down from $233.00 in 2022).
  • Primary Reason: Lower-than-anticipated spending on a new Alzheimer's drug allowed CMS to pass excess trust fund reserves back to enrollees.

šŸ“ˆ Part A Premium Exceptions (If Applicable)

  • 30-39 Work Quarters: Increased to $278 per month (up from $274).
  • Fewer than 30 Quarters: Increased to $506 per month (up from $499).