What Will Medicare Cost Me in 2023?

So How Much Will Medicare Cost in 2023?

Medicare cost for 2023 showed an increase to  Part A deductible, but a small decrease to the Part B annual deductible over 2022.

In addition, the daily co-payments under Part A of Medicare showed increases in each phase.  The Medicare Part B coinsurance still remains at 20% as it always has.

If you worked 40 quarters during your lifetime, you will not be charged the Part A premium listed above.  During your working years, the Part A premium was paid thru your Medicare taxes from each payroll cycle.

The deductible for Part A increased from $1556 in 2022 to $1600 for 2023.  For days 61-90 of inpatient hospital care the daily co-payment rose from $389 per day in 2022 to $400 per day for 2023.  This will be an increase of $11 per day.  The lifetime reserve days which are days 91-150 of inpatient hospital care rose from $778 per day in 2022 to $800 per day for 2023.  This will be an increase of $22 per day.

Finally under Part A of Medicare the daily co-payment for skilled nursing facility care will increase from $194.50 per day in 2022 to $200 per day in 2023.  This will be an increase of $5.50 per day.

To compare our current chart to 2022 numbers click here.  To see the Medicare Fact Sheet click here.

To read about the 3 Most Common Questions Asked About Medicare Part A click here.  To read about the 3 Most Common Questions Asked About Medicare Part B click here.

Wondering if you are paying too much for your current Medicare coverage?  Get a FREE, NO OBLIGATION quote by clicking below or call (800)924-4727 for immediate service.