Are My Medicare Premiums Going Up in 2023?

Are you wondering how much Medicare premiums will increase for 2023? Rising inflation coupled with a 14.5% Medicare Part B premium increase from 2021 to 2022 raises concerns about Medicare premiums in 2023.

While awaiting the official announcement, expected in the fourth quarter of 2022, projections are already a topical news story. In the meantime, answers to some of your Medicare Part B premium questions are available now.

TIP: For more great Medicare information, tips and tricks delivered directly to your inbox, subscribe to our newsletter.

Medicare Benefits Solutions

Jul 4, 2022

timer 5 minutes read

Medicare Part B Premium

The Medicare Part A premium is free for most beneficiaries, but the Medicare Part B premium is always required. If you are collecting Social Security (SS) or Railroad Retirement Board (RRB) benefits when you become Medicare-eligible, your monthly benefit payments will automatically be reduced by the Part B premium amount.

The standard Part B monthly premium in 2021 was $148.50, and in 2022, the amount increased to $170.10. Pundits are suggesting premiums will decrease for 2023. Understanding what propelled the 2022 premium increase can give you a sense of what to expect in 2023.

TIP: Check out our chart on the different parts of Medicare explained.

Get easy-to-read, informative Medicare articles like this in your inbox every month.

Medicare Benefits Solutions is a non-government website. This is a solicitation for insurance. By submitting information on this site, I am providing my written consent for Medicare Benefits Solutions, herein after referred to as “Medicare Benefits”, which is a brand operated by HealthCompare Insurance Services Inc., its sales agents, or affiliates to contact me (even if I’m on a state or national do not call registry) at the phone number or email address listed to provide me with quotes or information about Medicare Advantage, Medicare Supplement, and Medicare Part D plans. I further consent to such calls or texts sent via autodialer, automated technology, prerecorded message and/or artificial voice. I understand my consent is not a condition of purchase and that I can revoke my consent at any time via medicarebenefits.com/about-us/contact-us. Additional charges may apply to SMS, call, or Internet usage depending on your data providers.

Why Did Premiums for Medicare Increase in 2022?

A contributing factor to the 2021-to-2022 Medicare Part B premium increase was the introduction of a drug called Aducanumab (generic version). Biogen manufactures the drug under the brand name, Aduhelm, which the Federal Drug Administration (FDA) approved in June 2021 to treat Alzheimer’s disease. The FDA press release said, “Aduhelm represents a first-of-its-kind treatment approved for Alzheimer’s disease.

Aduhelm quick facts:

  • FDA approved
  • New treatment for early-stage Alzheimer’s disease
  • Helps slow cognitive decline
  • Administered via IV infusion
  • Requires MRI or PET scan before and during treatment

The drug initially came with a hefty price tag of $56,000. Medicare covers Aduhelm only for beneficiaries participating in clinical trials approved by the Centers for Medicare & Medicaid Services (CMS), National Institutes of Health (NIH), or the FDA. Coverage of clinical research studies falls under Part B.

Part of the reason for Medicare’s premium hike in 2022 was to defray the anticipated cost of Aduhelm coverage. According to KFF, “CMS attributed about half of the premium increase to the need to boost revenues to cover higher projected Part B spending for this one drug alone.”

TIP: Discover how to make smart financial decisions when navigating Medicare costs.

Are Medicare Premiums Lowering in 2023?

The New York Times noted that after the sizable Medicare Part B premium increase was announced in 2021, followed by public protest rallies, some hospitals and doctors refrained from prescribing the drug. After the premium increase went into effect, the manufacturer announced it was cutting the price of Aduhelm to $28,200, based on a lower demand than predicted.

An article in U.S. News cited a CMS report that “said the premium recommendation for 2022 would have been $160.40 a month had the price cut and the coverage determination both been in place when officials calculated the figure.” But a midstream change in the 2022 Medicare Part B premium would be unprecedented. However, there is the potential that the cost savings will be passed along to Medicare recipients through lower 2023 Medicare Part B premiums.

Medicare Income Limits

Though most people pay the standard Medicare Part B premium, beneficiaries earning a modified adjusted gross income (MAGI) within specific ranges must pay an additional income-related monthly adjustment amount (IRMAA). The data the Social Security Administration (SSA) uses for this calculation is the income you reported on your tax return two years back, typically the most recent tax return the IRS provides to the SSA. The SSA also takes into account how you filed.

For example, based on the 2022 income chart, if you filed individually and your 2020 MAGI was over $91,000 but no more than $114,000, or if you filed as a married couple and your MAGI was between $182,000 and $228,000, you would pay $68 per month above the Medicare Part B standard premium.

The IRMAA also applies to your prescription drug plan; in this example, you would pay $12.40 above your Part D monthly premium. In the fall of 2022, stay tuned for the announcement of the 2023 Medicare income limits.

Find a new plan

Get recommendations based on what's important to you, and compare them to your existing plan.

Medicare Coverage Options

All Medicare recipients are responsible for the Part B premium, but you can choose how you want to receive your Medicare benefits. As you navigate Medicare plans and benefits, think through your current and projected healthcare needs relative to Medicare costs.

Here are points to consider:

  • Medicare Advantage (MA) is an alternate way to get Part A and Part B. MA plans often include Part D. Depending on the insurer and location, you may be able to find a premium-free MA plan, but be sure to factor in the cost of deductibles, coinsurance and co-payments.
  • Medicare Supplement Insurance covers some or all out-of-pocket costs, depending on which of the 10 Medigap policies you select. However, premiums can be high, depending on the level of benefits and your location. You must also buy a Part D plan for prescription drug coverage.

There are multiple facets to Medicare. For example, enrollment timing is different for MA plans than supplemental plans. MA plans offer an annual open enrollment period between January 1st and March 31st, whereas Medicare Supplement Insurance provides a one-time Medigap Open Enrollment Period.

TIP: Read our Top 7 Reasons to Switch Your Medicare Advantage Plan guide.

Online Plan Finder Tool

Whether you are new to Medicare or looking to switch plans, a licensed sales agent can share tips to help you navigate plans and benefits so that you don’t miss out on an opportunity to choose the plan you need.

TIP: Try our handy Medicare Plan Finder tool and get started comparing plans side-by-side today!

Got questions?

Call a licensed sales agent at

877-874-1499
or TTY 771

Mon to Fri 5 am – 6 pm PST | Sat 5 am – 5 pm PST | Sun closed

Send us a message

We aim to reply within 24 hours.



    Medicare Benefits Solutions is a non-government website. This is a solicitation for insurance. By submitting information on this site, I am providing my written consent for Medicare Benefits Solutions, herein after referred to as “Medicare Benefits”, which is a brand operated by HealthCompare Insurance Services Inc., its sales agents, or affiliates to contact me (even if I’m on a state or national do not call registry) at the phone number or email address listed to provide me with quotes or information about Medicare Advantage, Medicare Supplement, and Medicare Part D plans. I further consent to such calls or texts sent via autodialer, automated technology, prerecorded message and/or artificial voice. I understand my consent is not a condition of purchase and that I can revoke my consent at any time via medicarebenefits.com/about-us/contact-us. Additional charges may apply to SMS, call, or Internet usage depending on your data providers.

    Find a plan

    find a plan
    Get plan recommendations

    Compare your current Medicare plan to our recommendations – then choose the plan that gives you more of the things you want.

    Get informative, easy to read health, lifestyle and Medicare articles. Subscribe to our free monthly newsletter.

    Medicare Benefits Solutions is a non-government website. This is a solicitation for insurance. By submitting information on this site, I am providing my written consent for Medicare Benefits Solutions, herein after referred to as “Medicare Benefits”, which is a brand operated by HealthCompare Insurance Services Inc., its sales agents, or affiliates to contact me (even if I’m on a state or national do not call registry) at the phone number or email address listed to provide me with quotes or information about Medicare Advantage, Medicare Supplement, and Medicare Part D plans. I further consent to such calls or texts sent via autodialer, automated technology, prerecorded message and/or artificial voice. I understand my consent is not a condition of purchase and that I can revoke my consent at any time via medicarebenefits.com/about-us/contact-us. Additional charges may apply to SMS, call, or Internet usage depending on your data providers.

    Find a new Medicare plan

    Get a plan recommendation based on what's important to you.