2023 Medicare Premiums Part A, Part B, Part C and Part D
- October 12, 2022
- Reviewed by John Krahnert
The cost of health care may be expensive for Medicare beneficiaries, especially those who require coverage for vision, dental and prescription drugs, as Original Medicare (Part A and Part B) doesn't typically cover them.
All Medicare Advantage (Medicare Part C) plans, however, cover your Medicare Part A and Part B benefits, and some plans may offer additional benefits that Original Medicare doesn't cover.
Compare Medicare Advantage plan premiums today.
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What are Medicare monthly premiums in 2023?
Each part of Medicare may feature different premiums and costs.
Medicare Part A premiums
Most Medicare beneficiaries don't pay a premium for their Part A hospital insurance coverage. This is because most people or their spouses have worked and paid Medicare taxes for at least 40 quarters (10 years), which qualifies them for premium-free Part A.
For people who worked and paid Medicare taxes for less than the required amount of time may have to pay a monthly premium for Part A in 2023.
- People who paid Medicare taxes for fewer than 30 quarters: $506 per month Part A premium
- People who paid Medicare taxes for 30-39 quarters: $278 per month Part A premium
Medicare Part B premiums
Part B premiums aren't determined by the length of time you worked or paid taxes. Most Part B beneficiaries pay a monthly premium for their Part B benefits.
The standard Medicare Part B premium in 2023 is $164.90 per month.
Some Medicare beneficiaries may pay more or less per month for their Part B coverage. The Part B premium is partly based on your reported income from two years ago (2021).
People who had higher income in 2021 may pay higher Part B premiums, which is called the IRMAA (Income-related Monthly Adjustment Amount).
| 2021 Individual tax return | 2021 Joint tax return | 2021 Married and separate tax return | 2023 Part B premium |
|---|---|---|---|
|
$97,000 or less |
$194,000 or less |
$97,000 or less |
$164.90 |
|
More than $97,000 and up to $123,000 |
More than $194,000 and up to $246,000 |
N/A |
$230.80 |
|
More than $123,000 up to $153,000 |
More than $246,000 up to $306,000 |
N/A |
$329.70 |
|
More than $153,000 up to $183,000 |
More than $306,000 up to $366,000 |
N/A |
$428.60 |
|
More than $183,000 up to $500,000 |
More than $366,000 up to $750,000 |
More than $97,000 up to $403,000 |
$527.50 |
|
More than or equal to $500,000 |
More than or equal to $750,000 |
More than or equal to $403,000 |
$560.50 |
Medicare Part C premiums
The average Medicare Advantage premium is roughly $18 per month in 2023, according to the Centers for Medicare & Medicaid Services (CMS).1
How much you pay for your monthly premium depends on the Medicare Advantage plan you enroll in.
- You will typically pay your Medicare Advantage premium in addition to your Medicare Part B premium. Some Medicare Advantage plans are called "Part B giveback" plans because they credit your standard Part B premium back to you in some way.
- Some Medicare Advantage have $0 monthly premiums.
- Some insurers may offer a credit towards your Medicare Part B premium.
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Medicare Part D premiums
Medicare Part D prescription drug plan premiums may vary. The average Part D premium in 2023 is $31.50 per month, according to the CMS.1
You can compare how much Part D premiums cost where you live and enroll in a Medicare prescription drug plan online when you visit MyRxPlans.com.
As with Medicare Part B, you may be required to pay a higher Part D premium depending on your income.
If you are required to pay a higher Part D premium, it will be based on your reported income from two years ago (2021).
| 2021 Individual tax return | 2021 Joint tax return | 2021 Married and separate tax return | 2023 Part D premium |
|---|---|---|---|
|
$97,000 or less |
$194,000 or less |
$97,000 or less |
Your plan premium |
|
More than $97,000 and up to $123,000 |
More than $194,000 and up to $246,000 |
N/A |
$12.20 + your plan premium |
|
More than $123,000 up to $153,000 |
More than $246,000 up to $306,000 |
N/A |
$31.50 + your plan premium |
|
More than $153,000 up to $183,000 |
More than $306,000 up to $366,000 |
N/A |
$50.70 + your plan premium |
|
More than $183,000 up to $500,000 |
More than $366,000 up to $750,000 |
More than $97,000 up to $403,000 |
$70.00 + your plan premium |
|
More than or equal to $500,000 |
More than or equal to $750,000 |
More than or equal to $403,000 |
$76.40 + your plan premium |
Other costs to consider
Some parts of Medicare may include certain other out-of-pocket costs. These usually include:
- Deductibles: The amount you must pay before your insurance policy will pay their share of a claim
- Coinsurance: The percentage you must pay for a covered health care service
- Copayment: The fixed amount you must pay for a covered health care service
In 2023, the Medicare Part A deductible is $1,600 per benefit period, and the Part B deductible is $226 for the year.
2023 premiums, deductibles, coinsurance and copays for Medicare Advantage plans and Medicare prescription drug plans may vary. Learn more by comparing plan costs online for free, with no obligation to enroll, or by calling to speak with a licensed insurance agent.
1 CMS. (Sep. 29, 2022). Biden-Harris Administration Announces Lower Premiums for Medicare Advantage and Prescription Drug Plans in 2023. https://www.cms.gov/newsroom/press-releases/biden-harris-administration-announces-lower-premiums-medicare-advantage-and-prescription-drug-plans.
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About the author
Christian Worstell is a senior Medicare and health insurance writer with MedicareAdvantage.com. He is also a licensed health insurance agent. Christian is well-known in the insurance industry for the thousands of educational articles he’s written, helping Americans better understand their health insurance and Medicare coverage.
Christian’s work as a Medicare expert has appeared in several top-tier and trade news outlets including Forbes, MarketWatch, WebMD and Yahoo! Finance.
Christian has written hundreds of articles for MedicareAvantage.com that teach Medicare beneficiaries the best practices for navigating Medicare. His articles are read by thousands of older Americans each month. By better understanding their health care coverage, readers may hopefully learn how to limit their out-of-pocket Medicare spending and access quality medical care.
Christian’s passion for his role stems from his desire to make a difference in the senior community. He strongly believes that the more beneficiaries know about their Medicare coverage, the better their overall health and wellness is as a result.
A current resident of Raleigh, Christian is a graduate of Shippensburg University with a bachelor’s degree in journalism.
If you’re a member of the media looking to connect with Christian, please don’t hesitate to email our public relations team at Mike@tzhealthmedia.com.
