As predicted a few months back, Medicare has just announced there will be a rare reduction in the Part B premium cost and the Part B deductible effective Jan 1st, 2023. The Part B premium will reduce from current $170.10 to $164.90 and the deductible from current $233/year to $226/year! While both of these factors tend to increase over time, some years they remain flat and are now seeing a reduction. As previously noted, one of the big reasons for the reduction is lower than expected Alzheimer drug costs to Medicare.
In addition, there is expected to be a larger than normal Social Security Cola increase. The combination of these factors will lead to larger than normal net increases in monthly income for most seniors.
Feel free to contact me if you have any questions or need assistance with selecting a Medicare Plan. I don’t charge any fees nor increase your cost.
Based in the Richmond, VA area, David Higgs of Choices In Medicare, LLC specializes in helping seniors transition to Medicare. He can be reached at email: David@ChoicesInMedicare.com or go to website: www.ChoicesInMedicare.com
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.