Part D Bid and Base Premium Will Drop in 2023

 

The monthly Medicare Part D base beneficiary premium for 2023 will be $32.74, a slight decrease from $33.37 in 2022, according to CMS. The Part D national average monthly bid amount continues to drop, from $38.18 in 2022 to $34.71 in 2023. Regional low-income premium subsidy amounts have increased over the past few years in most states, yet five states — New York, Illinois, New Jersey, Indiana and Kentucky — are projected to see a decline larger than 5% in 2022. South Carolina is projected to see the biggest jump, with its average subsidy amount going up from $31.12 in 2022 to $37.84.

Notes: The average premium for MA-PDs is for Part D coverage only, excluding any applicable premium charged for medical (Part A and B) benefits.   SOURCES: CMS. “Key Facts About Medicare Part D Enrollment and Costs in 2022,” Kaiser Family Foundation.   From Radar on Drug Benefits Learn more about subscribing to AIS Health's publications.