Americans will now have to pay less next year on monthly premiums for Medicare’s Part B plan, which covers routine doctors’ visits and other outpatient care.
For the first time in nearly a decade, Americans will pay 3% lesser premiums in monthly Medicare premiums, after millions of beneficiaries endured a tough year of high inflation and a dramatic increase in premiums this year.
Source: Fierce Healthcare (Getty/designer491)
Most people on Medicare will pay $164.90 a month for Part B coverage starting next year, a savings of $5.20. “That’s something we may never see again in the rest of our lives,” said Mary Johnson, the Social Security and Medicare policy analyst for The Senior Citizens League. “That can really be used to pay off credit cards, to restock pantries that have gotten low because people can’t afford to buy as much today as they did a year ago, and do some long-postponed repairs to homes and cars.”
President Joe Biden lauded the lower Medicare premiums during a Rose Garden speech Tuesday, saying, “(To) millions of seniors and people with disabilities on Medicare, that means more money in their pockets while still getting the care they need.”
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