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.