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The 2023 Medicare Part B (physicians and related services) premium will be $164.90 a month for most enrollees, a decrease of $5.20 over 2022, the program has announced. Those with annual taxable incomes above a threshold (which will be $97,000 for single filers and $194,000 for joint filers) also pay surcharges.
The Part B annual deductible will decrease by $7 to $226.
Those decreases will partly offset the increases for 2022 over 2021 of $21.60 in the basic premium and $30 in the deductible.
In Part A, which covers hospitalization and related costs, the deductible will rise to $1,600, an increase of $44. Proportionate boosts also will apply to coinsurance for periods longer than 60 days per benefit period: for the 61st through the 90th day in a benefit period, to $400 per day, and beyond the 90th day, to $800 per day.
The average monthly premium for Part D prescription drug coverage will be $31.50, down about 50 cents. Federal retirees who retain their FEHB coverage, as most do, typically do not enroll in Part D even if they are in Part B, because prescription drug coverage is part of FEHB plans.
The Medicare open enrollment period for 2023 coverage will run October 15-December 7.
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