Medicare Outpatient Premiums Down, Hospital Premiums Up in 2023

The standard monthly premium for Medicare outpatient, or “Part B,” coverage, will be $164.90 in 2023. That’s down $5.20 from $170.10 in 2022, the Biden administration announced Tuesday.

The annual deductible for all Part B beneficiaries will be $226 next year, down $7 from $233 this year, the Centers for Medicare & Medicaid Services said. Medicare Part B covers medical services and supplies, preventive services, durable medical equipment, and ambulance services.

The cut follows a 15% increase in premiums for 2022, which was partly driven by anticipation that Medicare would have to pay for Biogen Inc.’s controversial Alzheimer’s medication, ...