CMS releases Medicare premiums, deductibles
By HME News Staff
Updated 11:19 AM CDT, Wed September 28, 2022
WASHINGTON – The standard monthly premium for Medicare Part B beneficiaries will be $164.90 for 2023, a decrease of $5.20 compared to 2022.
The annual deductible for all Medicare Part B beneficiaries will be $226 in 2023, a decrease of $7 compared to 2022, according to information released Sept. 27 by CMS.
The 2022 premium included a contingency margin to cover projected Part B spending for a new drug, Aduhelm. Lower-than-projected spending on both Aduhelm and other Part B items and services resulted in much larger reserves in the Part B account of the Supplementary Medical Insurance (SMI) Trust Fund, which can be used to limit future Part B premium increases.
Medicare Open Enrollment for 2023 begins Oct. 15, 2022, and ends Dec. 7, 2022. During this time, people eligible for Medicare can compare 2023 coverage options between Original Medicare, and Medicare Advantage, and Part D prescription drug plans.
Medicare health and drug plan costs and covered benefits can change from year to year, so people with Medicare should look at their coverage choices annually and decide on the options that best meet their health needs, CMS says.
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