2023 Medicare Costs

Learn how 2023 Medicare changes could affect your coverage and costs.

Average cost of Medicare Part A

If you or your spouse worked and paid Medicare taxes for the equivalent of 10 years (40 quarters), you qualify for premium-free Medicare Part A.

If you paid Medicare taxes for only 30-39 quarters, your 2023 Part A premium will be $278 per month. If you paid Medicare taxes for fewer than 30 quarters, your premium will be $506 per month.

Average cost of Medicare

Average cost of Medicare part B

The standard monthly premium for Medicare Part B is $164.90 per month in 2023.

Some Medicare beneficiaries may pay more or less per month for their Part B coverage. The Part B premium is based on your reported income from two years ago (2021).

Average cost of Medicare Part B

Average cost of Medicare Part C

In 2023, the nationwide average monthly premium for a Medicare Part C (Medicare Advantage) plan is $19 per month, though many plans feature lower or $0 monthly premiums.1

Average cost of Medicare Part C

Average cost of Medicare Part D

The average Part D plan premium in 2023 is $31.50 per month.2

Average cost of Medicare Part D

Medicare Supplement (Medigap) Costs

In 2022, the average Medicare Supplement Plan G premium was $143.46 per month for beneficiaries age 65.3 But the average cost of each type of Medigap plan can vary quite a bit from one plan type to another.

The average premium a Medicare Supplement Insurance (also called Medigap) plan can vary based on factors such as where you live, your age, your health status and more.

Average cost of Medicare Supplement Plans

 

1 MedicareAdvantage.com internal analysis of annual plan data from the Centers for Medicare & Medicaid Services (CMS).

2 CMS. (Jul. 29, 2022). CMS Releases 2023 Projected Medicare Basic Part D Average Premium. https://www.cms.gov/newsroom/news-alert/cms-releases-2023-projected-medicare-basic-part-d-average-premium.

3 TRANZACT internal analysis of CSG Actuarial Data quoted January 2020. It is not a comprehensive national average of all available Medicare Supplement Insurance plan premiums.

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