Progressives cheered Tuesday after the Biden administration announced that Medicare beneficiaries will see their Part B premiums and deductibles decrease in 2023, the first time in more than a decade that seniors and people with disabilities will pay less for health services and medical equipment not covered by Part A than they did the year before.
According to the Center for Medicare & Medicaid Services, the standard monthly premium for Part B enrollees will be $164.90 in 2023, a decrease of $5.20 from 2022. The annual deductible for all recipients will be $226, a decrease of $7 from this year.
As CNN reported: "The reduction, which was signaled earlier this year by Health and Human Services Secretary Xavier Becerra, comes after a large spike in 2022 premiums. Medicare beneficiaries had to contend with a 14.5% increase in Part B premiums for 2022, which raised the monthly payments for those in the lowest income bracket to $170.10, up from $148.50 in 2021."
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