Medicare Part B premiums and deductibles are set to decrease in 2023, one year after seeing a historic hike.
Seven things to know:
1. The standard monthly premium for Medicare Part B enrollees is $164.90 for 2023, a decrease of $5.20 from 2022, according to a Sept. 27 CMS fact sheet.
2. The annual deductible for all Medicare Part B beneficiaries is $226 in 2023, a decrease of $7 from 2022.
3. The 2022 premium included a contingency margin to cover projected Part B spending increases for new Alzheimer's drug Aduhelm, according to the release. Spending was lower than projected on Aduhelm and other Part B items, which resulted in larger reserves in the Part B account of the Supplementary Medical Insurance Trust Fund.
4. HHS Secretary Xavier Becerra instructed CMS in January to reassess 2022 Part B premiums after a significant price drop for Aduhelm. After that review, HHS announced premiums would not be adjusted downward until 2023, citing legal and operational hurdles to adjusting premiums midstream.
5. Starting July 1, Medicare beneficiaries who take insulin through a pump will not have to pay a deductible, and cost sharing will be capped at $35 for a one-month supply of covered insulin. The benefit is available to individuals with pumps supplied through the durable medical equipment benefit under Part B.
6. Beginning in 2023, certain Medicare enrollees who are 36 months post-kidney transplant can continue Part B coverage of immunosuppressive drugs by paying a premium. The premium is $97.10 in 2023.
7. Medicare Part A, which covers inpatient hospital, skilled nursing facility and some home healthcare, is premium free for 99 percent of Medicare beneficiaries. Their Part A inpatient deductible is $1,600 in 2023, an increase of $44 from 2022.