CMS announces Medicare Premiums, Deductibles for 2023

The Medicare Part A Deductible for inpatient services will increase from $44 in calendar year 2023 to $1,600, the Centers for Medicare & Medicaid Services announced today. Part A will be $400 for 61 to 90 days of hospitalization during the benefit period; $800 for a day of regular life insurance; and $200 for 21 to 100 days of extended care services in a skilled nursing facility during the benefit period. The monthly cost of Part A, which is paid by beneficiaries who have less than 40 Medicare-covered jobs and some people with disabilities, will increase by $7 in CY 2023 to $506, CMS announced. Certain voluntary enrollees qualify for a 45% discount on the monthly premium of $278 in CY 2023. The annual deductible for Medicare Part B will decrease by $7 in 2023 to $226, while the monthly premium for Medicare Part B will decrease by $5.20 to $164.90, CMS announced

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