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Medicare Fees to Decrease in 2023
Published October 19, 2022
The Center for Medicare & Medicaid Services (CMS) recently announced that there will be a decrease in the cost of monthly premiums for Medicare Part B in 2023. Monthly premiums for Medicare Part B, which covers routine doctor visits and outpatient care, is scheduled to decrease by 3%.
Currently, the average Medicare Part B premium is $170.10 (in 2022). This amount is set to decrease to $164.90 in 2023, for a monthly savings of $5.20. Similarly, the Medicare Part B deductible will decrease by $7 from $233 in 2022 to $226 in 2023.
See the chart below detailing the Medicare Part B rates for 2023:
Medicare Part B (Physician Services)
2022 | 2023 | |
Deductible | $233/year | $226/year |
Co-Insurance | 20% of approved charge | 20% of approved charge |
Medicare Part B Premiums
Yearly Income | Yearly Income | 2023 Premium (Amount You Pay Per Month) |
Single | Married | |
< $97,000 | < $194,000 | $164.90 |
$97,000 – $123,000 | $194,001 – $246,000 | $230.80 |
$123,001 – $153,000 | $246,001 – $306,000 | $329.70 |
$153,001 – $183,000 | $306,001 – $366,000 | $428.60 |
$183,001 – $499,999 | $366,001 – $749,999 | $527.50 |
$500,000+ | $750,000+ | $560.50 |
If you have any questions about how the Medicare rate changes affect you, please contact Littman Krooks to schedule a no obligation consultation.
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