Annually, the Medicare Part B standard premium, deductible, and co-payment levels are set based on the guidelines of the Social Security Act. For 2023, those enrolled in Medicare Part B will see a standard monthly premium of $164.90, witnessing a $5.20 reduction from the 2022 amount of $170.10. The yearly deductible for all individuals covered by Medicare Part B has been set at $226 for 2023, which shows a $7 decrease compared to the preceding year’s deductible of $233.
The premium for 2022 included an additional buffer to account for expected expenditures related to the novel medication Aduhelm. However, the actual costs incurred for Aduhelm along with other Medicare Part B expenses were below initial projections, thus significantly bolstering the reserves in the Part B segment of the Supplementary Medical Insurance (SMI) Trust Fund. This surplus allows for the mitigation of forthcoming increases in Medicare Part B premiums. The 2023 reduction in the Medicare Part B premium is consistent with the Center for Medicare and Medicaid Services (CMS) advice outlined in a May 2022 publication, which advocated for the application of the excess funds in SMI reserves to benefit those with Medicare Part B.
Starting in 2023, specific Medicare registrants who find themselves 36 months past a kidney transplant, thereby losing their eligibility for comprehensive Medicare benefits, are presented with the option to prolong their Part B coverage tailored to immunosuppressive medications by maintaining premium payments. For the year 2023, the premium specified for these immunosuppressive medications amounts to $97.10.
