September 28, 2022 - WASHINGTON – The Centers for Medicare & Medicaid Services (CMS) released the 2023 premiums and deductibles for the Medicare Part B programs on Tuesday. Medicare Part B premiums will decrease by $5.20 to $164.90 next year, and deductibles will decrease $7 to $226. AARP had called for CMS to lower Part B premiums following a decline in the price and coverage of Aduhelm, which accounted for half of the premium increase in 2022.

“Today’s announcement of lower Part B premiums and deductibles is welcome news for seniors who are struggling with rising costs due to inflation,” said Nancy LeaMond, AARP Executive Vice President and Chief Advocacy & Engagement Officer. “Reducing their Medicare expenses, combined with the expected cost of living adjustment for Social Security, will provide much-needed financial relief for older Americans.”

In addition to lower Part B premiums, several provisions in the Inflation Reduction Act will go into effect in January 2023. For those enrolled in Medicare Part D, most vaccines will be covered at no cost and insulin copays will be capped at $35 per month.

About AARP
AARP is the nation’s largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. With a nationwide presence and nearly 38 million members, AARP strengthens communities and advocates for what matters most to families: health security, financial stability and personal fulfillment. AARP also produces the nation's largest circulation publications: AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org, www.aarp.org/espanol or follow @AARP, @AARPenEspanol and @AARPadvocates, @AliadosAdelante on social media.
Source: AARP

Related: CMS Releases 2023 Medicare Parts A & B Premiums and Deductibles, 2023 Medicare Part D Income-Related Monthly Adjustment Amounts – Medicare Part B Premium Declines from 2022