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Medicare premiums are decreasing in 2023 – this is how much older Americans will save if they’re on Part B

Medicare premiums are decreasing in 2023 – this is how much older Americans will save if they’re on Part B

Medicare beneficiaries will see their Part B premiums go down for the first time in more than a decade, President Biden said during a press conference on Tuesday. Monthly Part B premiums, which are currently set at $170.10 in 2022, will decline to $164.90 in 2023 – a $5.20 a month savings, or about $64 a year, according to the Centers for Medicare and Medicaid Services. The annual deductible for Part B will be $226, down $7 from $233 in 2022.