On September 27, 2022, the Centers for Medicare & Medicaid Services (CMS) released the 2023 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs, as well as the 2023 Medicare Part D income-related monthly adjustment amounts.
Each year, Medicare premiums, deductibles, and copayment rates are adjusted according to the Social Security Act. While Part A costs increased as expected in 2023, the standard Part B premium and deductible actually decreased.