CMS has announced the 2023 Medicare Part A and B premium, deductible and coinsurance amounts. As in prior years, there are increases in the Part D amounts. However, the Part B premium and deductible will decrease. The 2023 Medicare Part D parameters were released earlier this year. (See our April 19, 2022 FYI.)
Download this FYI as a printable PDF.
Medicare Part A
On September 27, the Centers for Medicare & Medicaid Services (CMS) released the Medicare Part A premium and deductible and coinsurance amounts for 2023. It also provided a fact sheet with additional information.
Premiums
Almost all Medicare beneficiaries do not pay a Part A premium because they have at least 40 quarters of Medicare-covered employment. For those individuals who pay a premium, the Medicare Part A premiums for the 12-month period beginning on January 1, 2023 are as follows:
| Premium type |
2023 |
2022 |
Change |
| Premium to purchase coverage for individuals not otherwise eligible for Medicare Part A and certain disabled individuals |
$506 |
$499 |
1.4% |
| Premium for certain individuals entitled to a reduced monthly premium (who had at least 30 quarters or were married to someone with at least 30 quarters of Medicare-covered employment) |
$278 |
$274 |
1.5% |
Deductible and coinsurance amounts
The Medicare Part A deductible and coinsurance amounts for the 12-month period beginning on January 1, 2023 are as follows:
| Deductible and coinsurance type |
2023 |
2022 |
Change |
| Deductible for up to 60 days of Medicare-covered inpatient hospital care |
$1,600 |
$1,556 |
2.8% |
| Daily coinsurance for 61st through 90th day of hospitalization |
$400 |
$389 |
2.8% |
| Daily coinsurance for lifetime reserve days |
$800 |
$778 |
2.8% |
| Daily coinsurance for 21st through 100th day of extended care services in skilled nursing facility |
$200 |
$194.50 |
2.8% |
Medicare Part B
CMS also released a notice that sets out the Medicare Part B monthly premium rates and annual deductible amounts for 2023. Both the premium rates and deductible will decrease in 2023.
The standard monthly premiums for Medicare Part B for 2023 are as follows:
| Premium type |
2023 |
2022 |
Change |
| Standard monthly premium |
$164.90 |
$170.10 |
-3.1% |
Some Part B enrollees benefit from a “hold harmless” provision that protects them from any increase in Part B premiums (typically deducted from social security checks) that would effectively reduce their monthly social security payments.
The following individuals are not protected by the “hold harmless” provision:
- New Medicare enrollees in 2023
- Higher income Medicare beneficiaries
- Medicare beneficiaries dually eligible for Medicare and Medicaid
- Medicare Part B enrollees not receiving social security benefits
The 2023 Medicare Part B monthly premiums based on income tax filing status and income are as follows:
| Individual filing status* | Married filing jointly status | 2023 monthly premium | 2022 monthly premium | Change | |
| Income up to $97,000 | Income up to $194,000 | $164.90 | $170.10 | -3.1% | |
| $97,001 – $123,000 | $194,001 – $246,000 | $230.80 | $238.10 | -3.1% | |
| $123,001 – $153,000 | $246,001 – $306,000 | $329.70 | $340.20 | -3.1% | |
| $153,001 – $183,000 | $306,001 – $366,000 | $428.60 | $442.30 | -3.1% | |
| $183,001 – $499,999 | $366,001 – $749,999 | $527.50 | $544.30 | -3.1% | |
| $500,000 or more | $750,000 or more | $560.50 | $578.30 | -3.1% | |
*Income ranges for 2022 and 2023 differ. Range for 2023 is shown above.
| Married filing separately, lived with spouse during tax year* | 2023 monthly premium | 2022 monthly premium | Change |
| Income up to $97,000 | $164.90 | $170.10 | -3.1% |
| $97,001 – $402,999 | $527.50 | $544.30 | -3.1% |
| $403,000 or more | $560.50 | $578.30 | -3.1% |
*Income ranges for 2022 and 2023 differ. Range for 2023 is shown above.
Finally, the Medicare Part B annual deductible for the 12-month period beginning on January 1, 2023 is as follows:
| Deductible type | 2023 | 2022 | Change |
| Medicare Part B | $226 | $233 | -3.0% |
Volume 45 | Issue 28