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• Standard Part B rate is decreasing from $170.10 in 2022 to $164.90 in 2023
• Part B deductible is decreasing slightly from $233 in 2022 to $226 in 2023
•  Social Security Cost of Living Adjustment (COLA) is said to be 8.7% in 2023

 Medicare Eliminating the 5% coinsurance for Part D catastrophic coverage 

Inflation Reduction Act 

• The Coverage GAP or Donut Hole phase will be eliminated.  
• Part D plans can have a deductible up to $590, then you pay copayments for your medications until your total out of pocket cost reach $2000 
• You'll also have the option to pay out-of-pocket costs in monthly amounts over the plan year, instead of when they happen. (Let us advise you on this). M3P
• This CAP is expected to help millions of people
• The base premium for Part D is $36.78
• GoodRx. cannot be used in combination with medicare, but it can be used in place of Medicare.  Consider this depending upon your drug cost (we can advise).

 Medicare will implement negotiated prices for certain high-cost drugs 

The number of drugs subject to price negotiation will increase in future years: 15 Medicare Part D drugs for 2027, another 15 drugs covered under Medicare Part D or Part B for 2028, and another 20 drugs covered under Part D or Part B drugs for 2029 and later years.  drugs selected for the first round of negotiations include treatments for several medical conditions, including diabetes (Farxiga, Fiasp/NovoLog, Januvia, Jardiance), blood clots (Eliquis, Xarelto), heart failure (Entresto, Farxiga), psoriasis (Stelara, Enbrel), rheumatoid arthritis (Enbrel), Crohn’s disease (Stelara), and blood cancers (Imbruvica)