By Brian L. Miller, Esq.

The Center for Medicare & Medicaid Services (CMS) recently announced that there will be a decrease in the cost of monthly premiums for Medicare Part B in 2023. Monthly premiums for Medicare Part B, which covers routine doctor visits and outpatient care, is scheduled to decrease by 3%.

Currently, the average Medicare Part B premium is $170.10 (in 2022). This amount is set to decrease to $164.90 in 2023, for a monthly savings of $5.20. Similarly, the Medicare Part B deductible will decrease by $7 from $233 in 2022 to $226 in 2023.

See the chart below detailing the Medicare Part B rates for 2023:

Medicare Part B (Physician Services)

	2022	2023
Deductible	$233/year	$226/year
Co-Insurance	20% of approved charge	20% of approved charge

Medicare Part B Premiums

Yearly Income	Yearly Income	2023 Premium (Amount You Pay Per Month)
Single	Married
< $97,000	< $194,000	$164.90
$97,000 – $123,000	$194,001 – $246,000	$230.80
$123,001 – $153,000	$246,001 – $306,000	$329.70
$153,001 – $183,000	$306,001 – $366,000	$428.60
$183,001 – $499,999	$366,001 – $749,999	$527.50
$500,000+	$750,000+	$560.50

If you have any questions about how the Medicare rate changes affect you, please contact Littman Krooks to schedule a no obligation consultation.