The Medicare Part B deductible and premium will be lower in 2023.
In 2022, the standard monthly premium for Medicare Part B was $170.10. In 2023, the premium will be $164.90. That is a $5.20 decrease.
This very unusual decrease was due to savings on one Alzheimer's drug. In 2022, Medicare Part B had one of the largest year-over-year percentage increases in history (14.5 percent), a figure that ate into the Social Security cost of living increase.
Medicare Part B covers physician services, outpatient hospital, and some home and health services. It may also cover medical equipment and some health services not covered under Medicare Part A.
Allyson Good curates senior living, health, and family content. She is formerly the Managing Editor of Active Life, a print newspaper published in 2016-2017 for seniors, choosing practical articles on health, money, safety, and everyday living for older readers. She is also an avid gardener and offers up Garden Hints and Tips on a regular basis.