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Why You Will Pay Less for Medicare in 2023

Started by Epoch-Times-Bot, Nov 09, 2022, 08:30 AM

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Epoch-Times-Bot

Nov 09, 2022, 08:30 AM
Why You Will Pay Less for Medicare in 2023

During this time of high inflation rates, seniors will be glad to hear that some Medicare plan costs will be reduced in 2023. It is certainly good news after hearing that the cost-of-living adjustment (COLA) is higher for 2023 than it has been for a long time. It means seniors will not have to spend their newly gained extra money on Medicare.
Last year, seniors with Medicare Part B saw an increase of 14.5 percent ($25.50), bringing the total cost to $170.10. In comparison, the cost of Part B was only raised by $3.90 in 2021.
The larger-than-usual increase in Medicare coverage premiums in 2022 was because of the high cost of a new drug for patients with Alzheimer’s disease. Medicare assumed that the pricey drug would be in greater demand than it was and raised Medicare prices because of it....

Source: Why You Will Pay Less for Medicare in 2023

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