2023 Medicare Costs
Medicare Made Easy
Medicare is the federal health insurance program for:
- People who are 65 or older
- Certain younger people with disabilities
- People with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD)
How Much Will Medicare Cost?
Medicare Part A covers inpatient hospitals, skilled nursing facilities, hospice, inpatient rehabilitation, and some home health care services. Most Medicare beneficiaries do not have a Part A premium since they have at least 40 quarters of Medicare-covered employment.
The Medicare Part A inpatient hospital deductible that beneficiaries pay if admitted to the hospital will be $1,600 in 2023. The Part A inpatient hospital deductible covers beneficiaries’ share of costs for the first 60 days of Medicare-covered inpatient hospital care in a benefit period. In 2023, beneficiaries must pay a coinsurance amount of $400 per day for the 61st through 90th day of hospitalization in a benefit period and $800 per day for lifetime reserve days. For beneficiaries in skilled nursing facilities, the daily coinsurance for days 21 through 100 of extended care services in a benefit period will be $200 in 2023.
Part A Deductible and Coinsurance Amounts for Calendar Years 2021 and 2022 | ||
2022 | 2023 | |
Inpatient hospital deductible | $1,556 | $1,600 |
Daily coinsurance for 61st-90th Day | $389 | $400 |
Daily coinsurance for lifetime reserve days | $778 | $800 |
Skilled Nursing Facility coinsurance | $194.50 | $200 |
Enrollees age 65 and over who have fewer than 40 quarters of coverage and certain persons with disabilities pay a monthly premium to voluntarily enroll in Medicare Part A. Individuals who had at least 30 quarters of coverage or were married to someone with at least 30 quarters of coverage may buy into Part A at a reduced monthly premium rate, which will be $278 in 2023. Certain uninsured aged individuals who have less than 30 quarters of coverage and certain individuals with disabilities who have exhausted other entitlement will pay the full premium, which will be $506 a month in 2023.
Medicare Part B Premium and Deductible
Medicare Part B covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and certain other medical and health services not covered by Medicare Part A.
The standard monthly premium for Medicare Part B enrollees will be $164.90 for 2023. The annual deductible for all Medicare Part B beneficiaries is $226 in 2023.
Medicare Part B Income-Related Monthly Adjustment Amounts
The 2023 Part B total premiums for high-income beneficiaries are shown in the following table:
Beneficiaries who file individual tax returns with modified adjusted gross income: | Beneficiaries who file joint tax returns with modified adjusted gross income: | Income-related monthly adjustment amount | The total monthly premium amount |
Less than or equal to $91,000 | Less than or equal to $182,000 | $0.00 | $164.90 |
Greater than $91,000 and less than or equal to $114,000 | Greater than $182,000 and less than or equal to $228,000 | 65.90 | 230.80 |
Greater than $114,000 and less than or equal to $142,000 | Greater than $228,000 and less than or equal to $284,000 | 164.80 | 329.70 |
Greater than $142,000 and less than or equal to $170,000 | Greater than $284,000 and less than or equal to $340,000 | 263.70 | 428.60 |
Greater than $170,000 and less than $500,000 | Greater than $340,000 and less than $750,000 | 362.60 | 527.50 |
Greater than or equal to $500,000 | Greater than or equal to $750,000 | 395.60 | 560.50 |
Premiums for high-income beneficiaries who are married and lived with their spouse at any time during the taxable year, but file a separate return, are as follows:
Beneficiaries who are married and lived with their spouses at any time during the year, but who file separate tax returns from their spouses, with modified adjusted gross income: | Income-related monthly adjustment amount | The total monthly premium amount |
Less than or equal to $91,000 | $0.00 | $164.90 |
Greater than $91,000 and less than $409,000 | 362.60 | 527.50 |
Greater than or equal to $409,000 | 395.60 | 560.50 |
Medicare Part D Income-Related Monthly Adjustment Amounts
The Medicare Part D monthly premium is based on income. These income-related monthly adjustment amounts affect a small percentage of people with Medicare Part D. These individuals will pay the income-related monthly adjustment amount in addition to their Part D premium. Part D premiums vary from plan to plan and roughly two-thirds are paid directly to the plan, with the remaining deducted from Social Security benefit checks. The Part D income-related monthly adjustment amounts are all deducted from Social Security benefit checks. The 2023 Part D income-related monthly adjustment amounts for high-income beneficiaries are shown in the following table:
Beneficiaries who file individual tax returns with modified adjusted gross income: | Beneficiaries who file joint tax returns with modified adjusted gross income: | Income-related monthly adjustment amount |
Less than or equal to $97,000 | Less than or equal to $194,000 | $0.00 |
Greater than $97,000 and less than or equal to $123,000 | Greater than $194,000 and less than or equal to $246,000 | 12.20 |
Greater than $123,000 and less than or equal to $153,000 | Greater than $246,000 and less than or equal to $306,000 | 31.50 |
Greater than $153,000 and less than or equal to $183,000 | Greater than $306,000 and less than or equal to $366,000 | 50.70 |
Greater than $183,000 and less than $500,000 | Greater than $366,000 and less than $750,000 | 70.00 |
Greater than or equal to $500,000 | Greater than or equal to $750,000 | 76.40 |
Premiums for high-income beneficiaries who are married and lived with their spouse at any time during the taxable year, but file a separate return, are as follows:
Beneficiaries who are married and lived with their spouses at any time during the year, but file separate tax returns from their spouses, with modified adjusted gross income: | Income-related monthly adjustment amount |
Less than or equal to $97,000 | $0.00 |
Greater than $97,000 and less than $403,000 | 70.00 |
Greater than or equal to $403,000 | 76.40 |
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