Each year Medicare deductibles, coinsurance, and monthly premiums are adjusted for Original Medicare (Medicare Parts A & B).
Original Medicare consists of Medicare Part A and Part B.
Medicare Part A – Hospitalization
Medicare Part B – Doctor’s services
On September 27, 2022, the Centers for Medicare & Medicaid Services (CMS) released its annual deductible, premium, and coinsurance amounts.
The annual Medicare Part B deductible for 2023 is $226.
The Cost of the Part B Deductible for 2023
In 2022 the Medicare Part B deductible was $233, and the average Medicare Part B monthly premium was $170.10.
The Medicare Part B deductible for 2023 is $226. A decrease of $7.
The deductible changes in price every year and usually it increases.
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Medicare Part B Premiums for 2023
Medicare premiums increased by quite a bit in 2021 due to the introduction of a new Alzheimer’s drug called Aduhelm. This drug came with a massive cost of $56,000 and the Centers for Medicare and Medicaid Services (CMS) claimed the premium increase was to help cover the projected cost of this one drug.
This also resulted in a higher Medicare Part B deductible in 2022.
Due to protests from the public as well as some hospitals and doctors who declined to prescribe the drug due to its high cost, the manufacturer announced that the price was going to be lower to approximately $28,200 as demand was lower than anticipated.
Due to the lower cost of this drug, the Medicare Part B premium and deductible amounts are have lowered.
The Medicare Part B premium for 2023 is $164.90 per month.