Welcome to Mama Bear Medicare. 2023... That's right. We already have data for next year and guess what? You're gonna love it for the first time in, I don't know how long. There is a historic decrease in the premium and the deductible for part B of Medicare.
So if you have original Medicare or if you are considering or coming close to the age of and you are curious about what that means for 2023, listen up. The part B premium premium is the amount of money that you have to pay to buy a type of insurance. The premium for Part B this year is $170.10. Next year, $164.90 You heard me write it went down.
Uh, the deductible. Deductible is what you have to pay before they pay when you actually use it for Part B.
This year is $233 next year as of January 1st, 2023 down to $226. Isn't that fantastic? The premium and deductible changes also affected Part A, but that's a little bit of a different conversation. For example, there is a premium for Part A. If you or your spouse don't have enough, uh, quarters saved up where you've actually prepaid that premium this year, 2022, it's $499 next year, $506
So as long as you or your spouse has worked 40 quarters in America, paid your taxes, you've already prepaid for that premium, okay? Which is great news. Has the deductibles part a changed slightly? Okay, so Part A still has, if you remember, a 60 day benefit period deductible this year. That deductible is $1,556. Next year, 2023, the deductible is up to $1,600.
Now if you're like me and you have to memorize a lot of these fun numbers, <laugh> and you enjoying numbers, you may particularly enjoy how much easier these numbers are to manage next year.
The 60 day benefit period. Deductible is a flat $1,600. Okay? Once that deductible is met either by the patient or their meap also called Medicare supplement, original Medicare Part A pays 100%. That is fantastic news for anyone who's ever had to be in the hospital. If they have part A <laugh>, um, they'll pay 100% until day 20. In a skilled nursing facility, day 21, either the patient or their meap also called Medicare supplement pays $200 a day.
That's pretty fun. Part A even pays a hundred percent in the hospital until day 60. Day 61, the patient or their meap pays $400 a day. Day 90, that doubles to 800 a day. But keep in mind, you can still relax, you can still chill out. If you already have a better gap that pays those, it will just continue to pay those out of pocket amounts even though they went up slightly.
And if you don't have one yet, you still have a choice to purchase one if you are eligible. So that's it. I couldn't wait. I couldn't hold it in any longer. I had to tell you about these awesome updates for 2023. Again, my favorite one, the Part B premium will no longer be $170 and 10 cents a month. It is going down to $164.90. The deductible will no longer be $233.
No, I thought personally $233 compared to my $5,000 or so is a deductible. Was a bargain already 2023. Welcome to the $226 annual Part B deductible. My name is Ellie Saul and this is Mama Bear Medicare. If you have any other questions about Medicare or if you wanna schedule a call with me, El Sal, CEO and Mama Bear, you are welcome to do so online at www.mamabearmedicare.com
Or you can text me right now. 3 4 1 2 2 6, MAMA. That's 341-226-6262. You worked your whole life for this. Protect your retirement.
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