{"id":9657,"date":"2022-10-28T10:49:27","date_gmt":"2022-10-28T14:49:27","guid":{"rendered":"https:\/\/kerryhannon.com\/?p=9657"},"modified":"2022-10-28T10:52:58","modified_gmt":"2022-10-28T14:52:58","slug":"the-big-changes-for-medicare-next-year","status":"publish","type":"post","link":"https:\/\/kerryhannon.com\/?p=9657","title":{"rendered":"The big changes for Medicare next year"},"content":{"rendered":"
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Next year, seniors will see three key changes to Medicare that could save them money.<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/header>\n
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Premiums and deductibles on Medicare Part B are going down, while co-sharing costs for adult vaccines are going away. Insulin copays will also be capped starting in 2023.<\/p>\n

These changes could affect if seniors choose to switch their coverage options during the annual open enrollment window that runs from October 15 to December 7.<\/p>\n

“The most important change in 2023 will help people with diabetes,” Mark Miller, author of the forthcoming book\u00a0Retirement Reboot: Commonsense Financial Strategies for Getting Back on Track,<\/em><\/a>\u00a0told Yahoo Money. “Another important change in 2023: vaccines covered under Part D will come with no copays or deductibles. That will help with expensive vaccinations, such as the shingles vaccine.”<\/p>\n

Here\u2019s what to know.<\/p>\n

Medicare Part B<\/strong><\/h2>\n

Medicare premiums will be cheaper. The standard monthly premium for Medicare Part B, which covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and certain other medical and health services not covered by Medicare Part A, will be $164.90 for 2023, a decrease of $5.20 from $170.10 in 2022.<\/p>\n

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. Medicare beneficiaries can add that $5.20 monthly refund to the sizable\u00a08.7% Social Security COLA for 2023<\/a>. Part B premiums typically are deducted from monthly Social Security benefits, so that boost will be welcome as retirees still grapple with rising costs.<\/p>\n