The standard monthly premium for Medicare Part B will decrease in 2023 to$164.90, a savings of $5.20 from 2022’s premium of $170.10. The Part B deductible will also decrease to $226.00, a savings of $7 form the 2022 deductible of $233. The change was precipitated by a May 2022 report from the Centers for Medicare and Medicaid Services (CMS) that recommended excess reserves in the Supplementary Medical Insurance Trust Fund (SMI) be passed on to Part B beneficiaries.

This savings will be offset, however, by an increase in the Part A deductible and coinsurance amounts. The Part A deductible will be $1,600.00 in 2023, an increase of $44 from $1,556 in 2022. Daily copays for days 61-90 in the hospital will go from $389 to $400, and copays for days 91-150 will increase from $778 to $800. The skilled nursing facility copay will increase from $194.50 to $200.00

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