Medicare Premiums will decrease in 2023: 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 in 2023, a decrease of $7 from the annual deductible of $233 in 2022. So while 2023 SSA Disability benefits are increasing substantially Medicare premiums are decreasing!
Medicare Open Enrollment and Medicare Savings Programs
Medicare Open Enrollment for 2023 will begin on October 15, 2022, and ends on December 7, 2022. During this time, people eligible for Medicare can compare 2023 coverage options between Original Medicare, Medicare Advantage, and Part D prescription drug plans. In addition to the soon-to-be-released premiums and cost-sharing information for 2023 Medicare Advantage and Part D plans, the Fee-for-Service Medicare premiums and cost-sharing information released today will enable people with Medicare to understand their Medicare coverage options for the year ahead. Medicare health and drug plan costs and covered benefits can change from year to year, so people with Medicare should look at their coverage choices annually and decide on the options that best meet their health needs.
To help with their Medicare costs, low-income seniors and adults with disabilities may qualify to receive financial assistance from the Medicare Savings Programs (MSPs). The MSPs help millions of Americans access high-quality health care at a reduced cost, yet only about half of eligible people are enrolled. The MSPs help pay Medicare premiums and may also pay Medicare deductibles, coinsurance, and copayments for those who meet the conditions of eligibility. Enrolling in an MSP offers relief from these Medicare costs, allowing people to spend that money on other vital needs, including food, housing, or transportation. People with Medicare interested in learning more can visit: https://www.medicare.gov/your-medicare-costs/get-help-paying-costs/medicare-savings-programs.
If you have questions regarding your Disability benefits please call MD-WIN at 240-638-0071 : Email: mmorrison@innow.org or visit our website at https://www.innow.org/md-win/
