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Each year the Centers for Medicare and Medicaid Services (CMS) releases updated rates for Original Medicare (Part A and Part B).
The Part B premium will be lower for 2023, the first time in over a decade that rates fell rather than increased.
Some of these amounts may be different if you have assistance with paying for Medicare, are enrolled in a Medicare Advantage plan, or have a Medicare supplement plan.
Medicare Part A in 2023:
Premium
Most people receive Part A premium-free. However, if you do not get premium-free Part A, you can check your rates by clicking here.
Hospital Stay
$1,600 deductible per benefit period.
$0 for the first 60 days of each benefit period
$400 per day for days 61–90 of each benefit period
$800 per “lifetime reserve day” after day 90 of each benefit period (up to a maximum of 60 days over your lifetime
Skilled Nursing Facility
$0 for the first 20 days of each benefit period
$200 per day for days 21–100 of each benefit period
All costs for each day after day 100 of the benefit period
For more information on Part A rates and coverage, click here.
Medicare Part B in 2023:
Premium
Most people pay the standard Part B premium amount of $164.90. However, Social Security will let you know your Part B premium.
Deductible
$226 per year
Many Medicare members have some insurance coverage in addition to Medicare. Therefore, many of these rates will not apply if you have a Medicare supplement (Medigap) or a Medicare Advantage plan.
Most Medicare members pay for their Part B premium, which will vary based on income. The standard rate is 164.90 in 2023, $5.20 less than in 2022.
To speak to a licensed agent about your Medicare costs, call (800) 398-8714.
Christina Valenzuela
Christina is the co-owner of Vista Mutual Insurance Services, an insurance agency that focuses exclusively on the needs of Medicare beneficiaries. She has worked in the Medicare insurance industry since 2006 and is a licensed insurance producer.
Although we strive to be as accurate as possible, any differences between this document and the information on Medicare.gov will be governed by the information on Medicare.gov.
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.
