Wild Announces Medicare to Lower Premiums as Urged in Letter

Press Release

Today, U.S. Representative Susan Wild applauded the Centers for Medicare and Medicaid Services for lowering the cost of 2023 premiums and deductibles for the Medicare Part B program, following her call to do so in a January letter sent with congressional colleagues. This will be the first lowered premium for Medicare Part B beneficiaries in a decade.

In 2023, the standard monthly premium for Medicare Part B enrollees will see a three percent decrease from 2022. The annual deductible for all Medicare Part B beneficiaries will also decrease by three percent from the 2022 annual deductible.

"As Americans face high prices across the board, these savings are welcome news," said Rep. Wild. "When I came to Congress, I made it my mission to tackle health care costs. Thanks to the Inflation Reduction Act, we're saving millions of taxpayer dollars by empowering Medicare to negotiate drug prices and bringing down health care costs for seniors. I will keep fighting to ensure all Americans can not only access the health care they need but can afford it, too."

Rep. Wild has been an outspoken advocate for lowering costs, especially health care costs. Earlier this year, she and 31 of her colleagues urged U.S. Department of Health and Human Services Secretary Xavier Becerra to reexamine Medicare Part B premiums in light of price changes to Aduhelm, an Alzheimer's medication manufactured by Biogen. The 2022 premium included a contingency margin to cover projected Part B spending for Aduhelm. Lower-than-projected spending on both Aduhelm and other Part B items and services resulted in much larger reserves in the Part B account of the Supplementary Medical Insurance Trust Fund, which can be used to limit future Part B premium increases.

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