By Daniel Petkevich
Dec 27, 2022
If you're concerned about being able to afford your Medicare plan, we have good news: Medicare Part B costs will decrease in 2023.
More specifically, you'll see changes in your monthly premiums, deductibles, and immunosuppressant drug coverage costs (if applicable).
In this article, we'll discuss everything you need to know about the upcoming changes to Medicare Part B. But first, let's review the healthcare services covered by Medicare Part B for those new to the program.
Medicare Part B is a part of Original Medicare that covers your outpatient medical costs.
It covers two types of services:
Essential medical services — medically necessary services and supplies required to diagnose or treat a medical condition
Preventive services — designed to help prevent illness or detect it early
Some examples of services and supplies covered by Medicare Part B include:
Ambulance services
Clinical research
Diagnostic laboratory tests
Doctor visits
Durable medical equipment — hospital beds, blood sugar monitors, oxygen tanks, wheelchairs, walkers, etc.
Therapy
Screenings
Vaccinations
Transplants
Limited outpatient prescription drugs
Your Medicare Part B costs include your monthly premium and the annual deductible. Here's what you'll pay in 2023:
Monthly premium — $164.90
Your premium may vary depending on your MAGI (modified adjusted gross income)
For example, if your MAGI exceeds a certain amount (as per your IRS tax return from 2 years ago), you may be subject to an income-related monthly adjustment amount (IRMAA). You would pay the IRMAA in addition to the standard premium
Annual deductible — $226
Everyone enrolled in Medicare Part B must pay the premium. If you receive Social Security benefits, the Part B premium will be automatically deducted from your monthly payment; if not, you'll receive a quarterly bill.
The following table displays Medicare Part B premiums based on income.
Medicare Part B Premium in 2023
If the standard Medicare Part B services are all you need, you're good to go! But if you need immunosuppressant drug coverage, keep reading.
In 2023, Medicare Part B will offer the Immunosuppressive Drug (Part B-ID) benefit — a new coverage option for ESRD patients who need dialysis and/or a kidney transplant to survive.
Typically, when a person with ESRD receives a kidney transplant, they are covered by Medicare for the first 36 months after the procedure. After this time, they may lose coverage unless they meet other eligibility requirements (i.e., they're over 65 years old or have a disability).
The Medicare Part B Immunosuppressive Drug (Part B-ID) benefit will help those who lose Medicare coverage 36 months after a kidney transplant and don't have other health insurance.
This benefit only provides coverage for immunosuppressive drugs under Medicare Part B. It doesn't cover other items or services.
Some immunosuppressive drugs covered by Medicare Part B-ID include:
Tacrolimus (Prograf®, Astagraf XL®, Envarsus XR®)
Mycophenolate (Cellcept®, Myfortic®)
Prednisone
Cyclosporine (Neoral®, Gengraf®, Sandimmune®)
Sirolimus (Rapamune®)
Everolimus (Zortress®)
Azathioprine (Imuran®)
Belatacept (Nulojix®)
However, Medicare Part B-ID does NOT cover the following:
Non-immunosuppressive medications
Administration fees for IV immunosuppressant medications
Compounded immunosuppressant medications
Doctor visits, laboratory tests, and imaging
This new coverage benefit begins on January 1, 2023. If interested, you must sign up before December 31, 2022. Your immunosuppressant drug coverage begins the month following your enrollment.
Need help?
Call the Social Security line at 1-877-465-0355 to get started. (If you're a TTY user, contact our general line at 1-800-325-0778).
Medicare Part B-ID costs will include the following:
Monthly premium — about $97.10 (exact amount varies depending on your income)
Annual deductible — $226
20% of the Medicare-approved amount for your immunosuppressive drugs
The following table displays Medicare Part B-ID premiums based on income.
Medicare Part B-ID Premium Amount in 2023
Insurance premiums and deductibles can change every year. It's important to be aware of these changes if you have Medicare or are considering enrollment.
Fortunately, if you have Medicare Part B, you'll pay less in 2023. Here's a summary of the changes to expect in the new year:
Lower monthly premiums
Lower deductibles
Affordable immunosuppressant drug coverage (if you have ESRD)
If you have any questions or concerns about how these changes might affect you, call us at 1-888-376-2028. Our team at Fair Square Medicare can help you understand your options and make informed decisions about your Medicare coverage.
How Much Does Open Heart Surgery Cost with Medicare?
2023-01-27
How Much Does Xeljanz Cost with Medicare?
2023-01-25
How Much Does Rexulti Cost with Medicare?
2023-01-24
How Much Does Trelegy Cost with Medicare?
2023-01-24
What Does Medicare Cover for Stroke Patients?
2023-01-20
Does Medicare Cover Cervical Disc Replacement?
2023-01-20
What Happens to Unused Medicare Set-Aside Funds?
2023-01-20
Does Medicare Cover Xiafaxan?
2023-01-19
Is Botox Covered by Medicare?
2023-01-19
What You Need to Know About Creditable Coverage
2023-01-18
Does Medicare Cover Light Therapy for Psoriasis?
2023-01-17
Does Medicare Cover Wart Removal?
2023-01-17
Does Medicare Cover Qutenza?
2023-01-13
Can Medicare Help with the Cost of Tyrvaya?
2023-01-12
Does Medicare Cover Iovera Treatment?
2023-01-11
Does Medicare Cover Inqovi?
2023-01-11
Does Medicare Cover Exercise Physiology?
2023-01-11
Does Medicare Cover Bladder Sling Surgery?
2023-01-11
Virgil Insurance Agency, LLC (DBA Fair Square Medicare) and www.fairsquaremedicare.com are privately owned and operated by Help Button Inc. Medicare supplement insurance plans are not connected with or endorsed by the U.S. government or the federal Medicare program. This is a solicitation of insurance. A licensed agent/producer may contact you. Medicare Supplement insurance is available to those age 65 and older enrolled in Medicare Parts A and B and, in some states, to those under age 65 eligible for Medicare due to disability or End-Stage Renal disease. Virgil Insurance Agency is a licensed and certified representative of Medicare Advantage HMO, HMO SNP, PPO, PPO SNP and PFFS organizations and stand-alone PDP prescription drug plans. Each of the organizations we represent has a Medicare contract. Enrollment in any plan depends on contract renewal. The plans we represent do not discriminate on the basis of race, color, national origin, age, disability, or sex. Plan availability varies by region and state. For a complete list of available plans please contact 1-800-MEDICARE (TTY users should call 1-877-486-2048), 24 hours a day/7 days a week or consult www.medicare.gov. © 2022 Help Button Inc
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.
MULTIPLAN_FairSquareMedicare_01062022_M