2023 Medicare Premiums, Deductibles and Coinsurance Rates For Part B and Part A

Medicare, the federal health-insurance program for seniors 65 and older and their caregivers, is going to see some changes in the coming year thanks to mandated annual adjustments via the Centers for Medicare & Medicaid Services (CMS) based on the record 2023 Cost of Living Adjustment (COLA).

The following is a listing of the Medicare premium, deductible, and coinsurance rates that will be in effect in 2023

Part A: (Hospital Insurance) Motel Premium

The monthly premium for Part A is usually waived for individuals who have paid Medicare taxes through employment or they have a spouse with 40 or more quarters of Medicare-covered employment (they paid taxes!)

If this is not the case, a monthly fee of $506 may be charged which is prorated for those with 30 to 39 quarters of eligible employment.

Further, failure to enroll in Part A during initial Medicare eligibility (usually at age 65) may result in a penalty.

Other updates for 2023 Part A include:

Hospital stay

In 2023, you pay:
■ $1,600 deductible per benefit period
■ $0 for the first 60 days of each benefit period
■ $400 per day for days 61–90 of each benefit period
■ $800 per “lifetime reserve day” after day 90 of each benefit period (up to a maximum of 60 days over your lifetime)

Skilled Nursing Facility stay

In 2023, you pay:
■ $0 for the first 20 days of each benefit period
■ $200 per day for days 21–100 of each benefit period
■ All costs for each day after day 100 of the benefit period

Part B: (Medical Insurance) Monthly Premium

Medicare Part B covers outpatient hospital services, physician services, home health services, durable medical equipment, and certain other services not covered by Medicare Part A. 

Most people pay the standard monthly premium amount ($164.90 in 2023). This is a a decrease of $5.20 from $170.10 in 2022. The SSA will tell you the exact amount you’ll pay for Part B in 2023.

The annual deductible for all Medicare Part B beneficiaries is $226 in 2023, a decrease of $7 from the annual deductible of $233 in 2022.

You pay the standard premium amount if you:

■ Enroll in Part B for the first time in 2023.
■ Don’t get Social Security benefits.
■ Are directly billed for your Part B premiums.
■ Have Medicare and Medicaid, and Medicaid pays your premiums.

Medicare Part B Income-Related Monthly Adjustment Amounts

A beneficiary’s Part B monthly premium is based on his or her income. These income-related monthly adjustment amounts affect roughly 7% of people with Medicare Part B. The 2023 Part B total premiums for high-income beneficiaries with full Part B coverage are shown in the following table:

Medicare Part B 2023 Income-Related Monthly Adjustment Amounts
Medicare Part B 2023 Income-Related Monthly Adjustment Amounts

Medicare Deductible and Coinsurance Amounts

Part A: (pays for inpatient hospital, skilled nursing facility, and some home health care). For each benefit period Medicare pays all covered costs except the Medicare Part A deductible during the first 60 days and coinsurance amounts for hospital stays that last beyond 60 days and no more than 150 days.

The Medicare Part A inpatient hospital deductible that beneficiaries pay if admitted to the hospital will be $1,600 in 2023, an increase of $44 from $1,556 in 2022. 

Part A Deductible and Coinsurance Amounts for Calendar Years 2022 and 2023
by Type of Cost Sharing

Medicare Advantage Plan (Part D)


Medicare advantage is a type of Medicare-approved health plan from a private company that you can choose to cover most of your Part A and Part B benefits instead of Original Medicare. It usually also includes drug coverage

Higher income beneficiaries’ Part D monthly premiums are based on income. These income-related monthly adjustment amounts affect roughly 8% of people with Medicare Part D. The Part D income-related monthly adjustment amounts are deducted from Social Security benefit checks or paid directly to Medicar

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2 thoughts on “2023 Medicare Premiums, Deductibles and Coinsurance Rates For Part B and Part A”

  1. I am a vice president of an aarp group on S.I. NY Question, are there any increase expected for future Medicare deductible yearly payments. And what are they for the next few years.
    thank you.

    Reply

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