Monthly Medicare premiums for “Part D” prescription drug coverage are projected to be $31.50 in 2023, down 1.8% from $32.08 this year, the Biden administration announced Friday.
The Centers for Medicare & Medicaid Services announced the projected basic monthly premium—which is based on drug plan bids submitted to the agency—to help consumers better understand cost trends before they select plan coverage for the upcoming year during Medicare open enrollment.
Open enrollment for 2023 coverage runs from Oct. 15 to Dec. 7, 2022.
The agency also announced that the Part D national average monthly bid amount for 2023 is $34.71.
The ...
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