Will Medicare Part B Go Down Next Year?

Medicare had a large increase in 2022, which caught many people by surprise. The standard premium 2021 was $148.50. In 2022, Medicare raised it to $170.10.

Initially, there was some hope that the increase would be reversed. That did not materialize (are you surprised?).

The Good News - A recent announcement has indicated that the price will likely go down in 2023.

This is because Medicare has determined that the increase for 2022 should have been closer to $160 rather than $170. Think of it as an “overpayment” which Medicare intends to correct in 2023.

As always, if you have questions about Medicare Supplement insurance, Medicare Advantage insurance, or Medicare Part D - please don’t hesistate to call the office (855-887-5050) or simply schedule an appointment.