Good news? Not really

Each year the Medicare Part B premium, deductible, and coinsurance rates are determined according to the Social Security Act. The standard monthly premium for Medicare Part B enrollees will be $164.90 for 2023, a decrease of $5.20 from $170.10 in 2022. The annual deductible for all Medicare Part B beneficiaries is $226 in 2023, a decrease of $7 from the annual deductible of $233 in 2022.

I see this more as a political move than a practical, justified decision. If no increase was warranted, premium and deductible should remain the same. In this case the premium was lowered by taking from the Part B contingency fund.

It will have negligible benefit for individuals, but will reduce the Part B fund by about $3.5 billion in 2023. If 2024, 2025 total costs are higher than expected, premiums will have to catch-up not from the current premium, but from the lower 2023 premium.


  1. Biden announced yesterday that the Medicare part b premium was going down for the first time in more than a decade. It was considered good news for the older folks. So yes, it is a political stunt


  2. In 2024 and beyond when the Medicare premium increase will take most if not all of your COLA, there will be plenty of calls for increased COLAs to cover healthcare costs. A much smarter thing would of been to keep the Medicare premium at $170.10 so, increases in future years would be less not more. CRAZY bean counters.


  3. The $3.5 billion is about $55.56 annually ($4.63/month) per Medicare participant. However, how much did Medicare over collected during 2022 because of the big cost error used in their 2022 premium calculations? Though I do agree the decrease decision it is mainly politically motivated.


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