Medicare Costs 2023

Good news, your Part B 2023 Medicare costs have decreased. However, your Part A hospital costs have increased.

David Minaya

May 1, 2023

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Medicare Part B Cost 2023

First, the standard monthly Medicare Part B premium cost has decreased from $170.10 in 2022 to $164.90 in 2023. Second, the annual deductible for Medicare Part B also decreased from $233 in 2022 to $226 in 2023. So, you pay $5.20 less in monthly premiums and $7 less for the yearly deductible.

Part B Immunosuppressive Drug Coverage

New for 2023, certain Medicare beneficiaries 36 months after kidney transplant can elect to continue Part B immunosuppressive drug coverage for a $97.10 premium. However, for high-income earners, your monthly premium can be higher. You may be eligible for immunosuppressive drug coverage under the following conditions: (2)

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At the time of kidney transplant, you had Medicare because of End-Stage Renal Disease (ESRD)

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You neither have nor expect to have certain types of health coverage, including group or individual health plan, TRICARE, or Medicaid that covers immunosuppressive drugs.

Before you can get the Part B immunosuppressive drug benefit, you first must pay the Part B annual deductible of $226 in 2023.

There is no change to Medicare Part B coinsurance cost in 2023. You still pay 20% of the Medicare-approved amount.

The amount you pay for Medicare Part B premiums depends on your tax return income from the previous two years. If your individual modified gross adjusted income (MGAI) exceeds $97,000 individually or $194,000 jointly, you pay more than the standard Part B monthly premium of $164.90.

High-income earners, please reference the chart:

The standard $97.10 Part B Immunosuppressive drug premium also increases at MAGI greater than $97,000 individually or $194,000 jointly. You can review drug coverage premiums at CSM.gov .

Medicare Part A Costs 2023

If you worked at least 40 quarters, you still pay a $0 monthly premium for Medicare Part A. However, beneficiaries with 30 to 39 quarters worked, pay a premium of $278 in 2023. Those beneficiaries who worked less than 30 quarters, pay a premium of $506 in 2023.

Part A Deductible and Coinsurance Costs in 2023

Your Part A deductible for 2023 has increased $44 from $1556 in 2022 to $1600 in 2023. Beneficiaries pay the Part A deductible for every 60-day hospital benefit period.

The Part A coinsurance for the first 60 days remains the same at $0. However, your coinsurance cost past the first 60 days have increased.

For 2023, Part A premiums, deductibles, and coinsurance payments have increased. However, Part B 2023 premiums and annual deductible have decreased. The chart below summarizes 2023 Medicare costs.