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You are here News Health Medicare Part B premiums to decrease for the first time in over a decade

Medicare Part B premiums to decrease for the first time in over a decade

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Medicare Part BThe Biden administration on Tuesday announced that Medicare Part B premiums will decrease in 2023, marking the first time this cost has been lowered in more than a decade.

The Centers for Medicare & Medicaid Services (CMS) announced that Medicare Part B premiums would be lowered by three percent, or $5.20, going from $170.10 a month to $164.90. The program’s annual deductible will also fall by $7, from $233 to $226.

The last time Medicare Part B premiums fell was in 2012 when they went from $115.40 to $99.90 a month, a decrease of 13.4 percent.

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