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.
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