![]() ![]() Retirees: Your Next Companion May Be a Robot Medicare Costs Went Up in 2022 The annual deductible for all Medicare Part B beneficiaries will be $226 in 2023, which is $7 less than the 2022 deductible of $233. The Centers for Medicare and Medicaid Services has announced the standard Medicare premiums for Part B beneficiaries will be $164.90 a month in 2023, down $5.20 from the $170.10 monthly charge in 2022, or about 3% less. If you’re new to Medicare and wondering what these letters are all about, we’ll get to that – see Medicare Open Enrollment Presents Choices, below. At the same time, deductibles for hospitalization costs under Part A will be going up. But costs will also go down for Medicare Advantage and Medicare Part D prescription drug plans. Unfortunately, the cost reductions beneficiaries will see next year are much smaller than the increases they shouldered this year. For more information about Medicare including a complete listing of plans available in your service area, please contact the Medicare program at 1-800-MEDICARE (TTY users should call 1-87) or visit Medicare has neither reviewed nor endorsed this information.Medicare beneficiaries are getting a rare bit of good news as their Part B premiums and deductibles will tick down next year after the government health insurance plan spent less than projected in 2022. Each Blue Cross Blue Shield company is responsible for the information that it provides. To find out about premiums and terms for these and other insurance options, how to apply for coverage, and for much more information, contact your local Blue Cross Blue Shield company. Enrollment in these plans depends on the plan’s contract renewal with Medicare. Medicare Advantage and Prescription Drug Plans are offered by a Medicare Advantage organization and/or Part D plan sponsor with a Medicare contract. Plans are insured and offered through separate Blue Cross and Blue Shield companies. Viewing this Medicare overview does not require you to enroll in any Blue Cross Blue Shield plans. Medicare overview information on this website was developed by the Blue Cross and Blue Shield Association to help consumers understand certain aspects about Medicare. This open enrollment period previously ran until February 15, but was extended by Congress to run until March 31 for those already enrolled in Medicare Advantage.ĭownload the Medicare Advantage (Part C) and Prescription Drug Plans (Part D) guide to find the coverage options offered by your local Blue Cross Blue Shield company. If you are enrolled in a Medicare Advantage plan, you will have a one-time opportunity to make changes to your Medicare coverage, which includes switching to a different Medicare Advantage plan OR returning to Original Medicare with the option to sign up for a Prescription Drug Coverage plan.
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