2023 Medicare Part B Premium Increase May Be Mitigated - Motley Fool
It’s too early to say for sure, but the 2023 increase to Medicare’s Part B premium may be somewhat mitigated, or perhaps even zero, as a result of the Centers for Medicare and Medicaid Services (CMS) overestimating Medicare costs for 2022. The whopping 14.5% Part B premium increase for 2022 was partially predicated on expenses for a new drug to treat Alzheimer’s disease - an expense prediction which proved untrue, and Medicare treatment expenses which will not be incurred in 2023. As a result, the 2023 Part B premium will, according to CMS, be “adjusted downward” to pass the savings long to beneficiaries. Although it’s too early to provide specific information, that’s good news for those who pay a monthly premium for their Medicare Part B (coverage for outpatient healthcare services), as explained in this Motley Fool article by Keith Speights. Click here to read more.
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Social Security recipients need a cost of living increase of 11% in order to break even due to 2022 costs coupled with further projected rise in costs in 2023.
I think that medicare should have less deductibles and lower costs because things go up and we dont even get enough in increases to cover those costs and when you have these high deductibles we cant afford it. I alos cannot afford supplemental insurance so there for i have huge dr bills and havine to pay little by little