Part B (Medical Insurance) costs

Part B costs:

What you pay in 2023:

Premium

The standard monthly premium for Medicare Part B enrollees will be $164.90 for 2023, a decrease of $5.20 from $170.10 in 2022. The annual deductible for all Medicare Part B beneficiaries is $226, a decrease of $7 from the annual deductible of $233 in 2022.

Who pays a higher Part B premium because of income? Please see IRMAA chart

for 2023 (under Medicare guide).

You might pay a monthly penalty if you don’t sign up for Part B when you’re first eligible for Medicare (usually when you turn 65). You’ll pay the penalty for as long as you have Part B. The penalty goes up the longer you wait to sign up.

Deductible

$226, before Original Medicare starts to pay. You pay this deductible once each year.

General costs for services (coinsurance)

Usually 20% of the cost for each Medicare-covered service or item after you’ve paid your deductible (and as long as your doctor or health care provider accepts the Medicare-approved amount as full payment – called “accepting assignment”). Find out how assignment affects what you pay.

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Clinical laboratory services

$0 for covered clinical laboratory services.

Home health care

$0 for covered home health care services.
20% of the Medicare-approved amount for durable medical equipment (like wheelchairs, walkers, hospital beds, and other equipment).

Inpatient hospital care

20% of the Medicare-approved amount for most doctor services while you’re a hospital inpatient.

Outpatient mental health care

$0 for your yearly depression screening.
20% of the Medicare-approved amount for visits to your doctor or other health care provider to diagnose or treat your condition.
If you get your services in a hospital outpatient clinic or hospital outpatient department, you may have to pay an additional amount to the hospital.

Partial hospitalization mental health care

After you meet the Part B deductible:

20% of the Medicare-approved amount for each service you get from a doctor or certain other qualified mental health professional
Coinsurance for each day of partial hospitalization services you get in a hospital outpatient setting or community mental health center

Outpatient hospital care

Usually 20% of the Medicare-approved amount for doctor and other health care providers’ services.
You’ll also pay a copayment to the hospital for each service you get in a hospital outpatient setting (except for certain preventive services). In most cases, your copayment won’t be more than the Part A hospital stay deductible amount.

This additional hospital copayment means you may pay more for an outpatient service you get in a hospital than you’d pay if you got the same service in a doctor’s office.

Get help with Part A & Part B costs
If you have limited income and resources, you may be able to get help from your state to pay your premiums and other costs. Learn more about help with costs call (800) 671-1880.

Disclaimer:

Please be aware that amounts are subject to change.

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