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Savings for Seniors: Lower Medicare Part B Premiums in 2023

Posted by Laura E. Stubberud | Sep 29, 2022 | 0 Comments

Medicare handbook with pill case.

For the first time in more than 10 years, Medicare Part B enrollees will see some of their costs decline. In an announcement issued by the Centers for Medicare and Medicaid Services (CMS), the agency outlined changes to the premium, deductible, and co-payment amounts for numerous Medicare costs taking effect in 2023.

  • Medicare Part B basic monthly premium = $164.90 = Savings of about $62 for the year
  • Medicare Part B annual deductible = $226 = Savings of $84 for the year
  • Other amounts, meanwhile, will rise slightly in 2023:
    • Medicare Part A deductible = $1,600 (up from $1,556)
    • Co-payment for hospital stay, days 61 to 90 = $400 per day (up from $389)  
    • Co-payment for hospital stay, days 91 and beyond = $800 per day (up from $778)
    • Co-payment for skilled nursing facility, days 21 to 100 = $200 per day (up from $194.50)

Note that beneficiaries with higher incomes pay higher monthly premiums. For further details, read the news release from CMS.

If you wish to make changes your coverage, Medicare's Open Enrollment Period will take place October 15 through December 7. Learn more about Medicare.

About the Author

Laura E. Stubberud

Laura Stubberud has over two decades of experience in the practice of estate and family law in Nevada. After graduation from UCLA, she studied law at Southwestern University School of Law , graduating in 1992. With over 30 years of practice in Clark County, Nevada, Ms. Stubberud has substantial e...


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