Medicare up to the minute — 2023

The new year is underway. Check out these Medicare reminders for 2023.

Read time: 3 minutes

Attention, Medicare beneficiaries:

The standard monthly premium for Medicare Part B enrollees is $164.90 for 2023, a decrease of $5.20 from 2022.
The annual deductible for all Medicare Part B beneficiaries is $226 in 2023, a decrease of $7 from 2022.
The Medicare Part A inpatient hospital deductible beneficiaries pay if admitted to the hospital is $1,600 in 2023, an increase of $44 from 2022.
The Social Security cost-of-living adjustment (COLA) of 8.7% for 2023 means the average monthly retirement benefit will go up by $140 per month.

What’s new in 2023?

To make sure you’re up to date with any new coverages to your Medicare benefits, be sure to review page 2 of the “Medicare & You 2023” handbook.

Among the items listed on the “What’s new & important?” page are:

COVID-19 updates

Medicare continues to cover coronavirus disease (COVID-19) vaccines, tests and booster shots.
Kidney transplants and immunosuppressive drug coverage

Medicare offers a new benefit that helps continue to pay for immunosuppressive drugs beyond 36 months after a kidney transplant (if you don’t have other health coverage).
Get help in a crisis

Your mental health and wellness are a high priority. If you or someone you know is in crisis, call or text 988, or chat 988lifeline.org.

Is this covered?

To learn if Medicare covers your test, item or service, check out this list to see what’s covered no matter where you live. If your item, service or test isn’t listed, talk with your doctor.

Attention, Medicare Advantage enrollees:

The Medicare Advantage open enrollment is going on now through March 31.

If you’re enrolled in a Medicare Advantage Plan, now’s the time you can switch to a different Medicare Advantage Plan or switch to traditional Medicare (and join a separate Medicare drug plan). Note: You can only switch plans once during this time.

This period applies only to Medicare Advantage enrollees