The standard monthly Medicare Part B premium in 2023 will drop to $164.90, saving $5.20 from the 2022 premium of $170.10. The deductible portion will also drop to $226.00, which is a $7 savings from the 2022 $233 deductible. The change was expedited by a May 2022 report from the Centers for Medicare and Medicaid Services (CMS) that recommended transferring excess reserves in the Supplemental Medical Insurance (SMI) Trust Fund to Part B beneficiaries.
However, these savings will be offset by the increased deductible and coinsurance amounts in Part A. Part A deductible will be $1,600.00 in 2023, an increase of $44 from $1,556 in 2022. Daily deductibles for days 61-90 in hospital will go from $389 to $400, and joint contributions for 91-days 150 will increase from $778 to $800. Skilled nursing facility participation will increase from $194.50 to $200.00