Medicare Costs

2023 Medicare Deductibles & Premiums

Part A Premiums and Deductibles:

• Medicare Part A premium for people who do not qualify for premium-free Part A: up to $504 per month (depending on how long the individual or their spouse has worked and paid Medicare taxes)
• Medicare Part A deductible: $1,556 per benefit period (an increase of $44 from 2022)

Part B Premiums and Deductibles:

• Medicare Part B premium: $189.60 per month (an increase of $21.60 from 2022)
• Medicare Part B deductible: $233 per year (an increase of $5 from 2022)

Part C (Medicare Advantage) Premiums:

• Medicare Advantage premiums will vary by plan and by location. Some Medicare Advantage plans may have $0 monthly premiums, while others may have higher premiums.

Part D (Prescription Drug) Premiums and Deductibles:

• Medicare Part D premiums will vary by plan and by location.
• The maximum deductible for Part D prescription drug plans will be $490 in 2023 (an increase of $20 from 2022).

It’s important to note that these amounts are subject to change, and some individuals may qualify for certain assistance programs that can help pay for their Medicare costs. Additionally, some Medicare beneficiaries may be subject to higher premiums based on their income.

Learn about your TRUE OUT OF POCKET COSTS known as TrOOP.