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How Medicare Premiums in 2023 Will Impact Your Social Security Check?

August 15, 202311 min read

How much is taken out of social security for Medicare Premium in 2023? 

Decoding Medicare premium deductions from Social Security requires navigating some complexities. In 2023, the standard Part B premium will be $164.90 monthly for most people. However, higher earners get assessed larger amounts based on income tiers that raise rates through IRMAA. Having Part D prescription or Medicare Advantage coverage also boosts deductions. For those on Social Security, these costs come straight from benefit checks automatically.

For instance, someone with a $1,500 monthly Social Security payment may see around $1,335 after the basic $164.90 Part B deduction is applied. Adding a $50 Part D premium could reduce it further to about $1,285. Those unable to afford premiums can potentially get assistance through Medicaid and Medicare Savings Programs depending on eligibility. 

Knowing your exact Medicare deduction amount from Social Security is crucial for accurate budgeting. Carefully review statements from the Social Security Administration and follow up on any questions. While complicated, resources exist to help decode Medicare.

The Different Parts of Medicare in 2023

Medicare coverage consists of a few core components:  

Part A premium covers hospital inpatient stays, skilled nursing facilities, hospice, and some home health services. Most people don't pay premiums for Part A.

Part B includes doctor visits, outpatient care, preventive services, durable medical equipment, and more. Most people pay monthly premiums for Part B coverage.  

Part C, or Medicare Advantage, are private plan options that offer Parts A and B benefits plus additional coverage.

Part D provides prescription drug coverage through private insurance plans. Monthly premiums apply for Part D.

 How Income Affects Medicare Part B Premiums

The standard Part B premium is set at $164.90 per month for 2023. However, income determines whether you pay the base rate or higher premiums.

Medicare uses your reported income from 2 years prior to calculate yearly Part B premiums through income-related monthly adjustment amounts (IRMAA).

Here's how 2023 Part B premiums break down by income for individuals based on adjusted gross income:

- Under $97,000 - $164.90 monthly  
- $97,000-$123,000 - $230.80 monthly
- $123,000-$153,000 - $329.70 monthly
- $153,000-$183,000 - $428.60 monthly
- Over $183,000 - $506.90 monthly

And here are the income brackets for married couples filing jointly:

- Under $194,000 - $164.90 monthly
- $194,000-$242,000 - $230.80 monthly   
- $242,000-$302,000 - $329.70 monthly 
- $302,000-$365,000 - $428.60 monthly
- Over $365,000 - $506.90 monthly

So higher earners pay more for their Part B coverage. The maximum monthly Part B premium for 2023 is $506.90 per person. 

Premiums deducted from Social Security Payments  

If you currently receive Social Security retirement, Railroad Retirement, or Social Security disability benefits, your Medicare Part B premiums will be  deducted from your monthly payments.

Each year, the Social Security Administration notifies you of your new benefit amount after deducting your updated Medicare premiums. They deduct premium costs for both Part B and Part D coverage if you have a stand-alone prescription drug plan.  

For example, if your monthly Social Security benefit is $1,500 and your Part B premium is the standard $164.90 in 2023, your adjusted Social Security payment would be $1,335.10 after Medicare taxes and deductions are applied.

If you also have a Part D Plan with a $50 monthly premium, your total Medicare deductions would be $214.90, making your adjusted Social Security payment $1,285.10.

The amounts deducted from their Social Security check don't go directly to Medicare itself. Rather, the deductions help cover the overall benefits you receive through the Medicare program.

 Paying Premiums Without Social Security 

Wondering about Social security and Medicare? If you have Medicare coverage but don't receive Social Security or Railroad Retirement Board benefits, your Medicare premiums won't be automatically deducted from payments each month. Instead, you'll get a bill directly from Medicare that you'll need to pay yourself.

Here are some options for paying Medicare premiums if they aren't deducted from Social Security:

- Pay your monthly Medicare bill online, by phone, or by mail through your Medicare account.  

- Sign up for auto-bill pay through your bank account.

- If you have a Medicare Advantage or Part D Plan, you may be able to arrange premium deductions from your checking or savings account.

- Some people choose to pre-pay their Medicare premiums quarterly or annually instead of monthly.  

No matter how you pay, it's essential to keep your Medicare premium payments current in order to avoid losing coverage.

Medicare Advantage Premiums 

If you're enrolled in a Medicare Advantage Plan for your Medicare Part C coverage instead of Original Medicare, your premiums and deductibles will differ so long as you have paid Medicare taxes. Medicare Advantage Plans are offered by private insurance companies approved by Medicare.

Medicare Advantage Plans have annual out-of-pocket spending limits, which Original Medicare does not. They also frequently include prescription drug coverage and additional benefits not covered by Original Medicare. 

Each Medicare Advantage insurer sets its own monthly premiums for their plans, which affects how much you'll pay. On average, Medicare Advantage premiums for 2023 are around annual deductible fee of $50 per month. However, actual plan premiums vary significantly and can range from $0 up to over $200 monthly. 

Just as with Part B premiums, Medicare Advantage premiums are also affected by IRMAA adjustments based on your income. Higher earners will pay more for their Medicare Advantage coverage.

Unless you arrange to have premiums deducted from Social Security, your Medicare Advantage Plan will bill you directly. Even if you do that, you'll likely owe an additional amount each month beyond what's deducted.

For example, if your plan's premium is $75 but only the standard $164.90 Part B rate is deducted from your check, you would still need to pay the plan the additional $75 monthly cost.

 Help Paying Medicare Premium 

Some Medicare beneficiaries qualify for assistance programs that help cover expenses like premiums, out-of-pocket costs, and prescription drugs:  

- Medicaid - Covers Medicare premiums and cost-sharing for people with limited income and assets. Eligibility rules differ by state. 

- Medicare Savings Programs - Help pay Medicare Part B premiums for people meeting income and resource requirements. You can qualify even if you don't meet thresholds for full Medicaid benefits.

- Extra Help - Provided by Social Security to lower prescription drug costs for limited income Medicare beneficiaries. Can substantially reduce or eliminate your Part D premiums and expenses.

What Will Be Deducted from Social Security Check Each Month?

In summary, the amount deducted from your Social Security benefits each month for Medicare in 2023 depends on these key factors: 

- Your income, which affects the income-related premium adjustments

- Whether you have just Part B coverage or also Part D 

- If you have Original Medicare only or are enrolled in a Medicare Advantage Plan 

Here are some examples to give you an idea of potential monthly deduction amounts:

- With just Original Medicare Part B - Around $165  

- With Part B plus Part D drug coverage - Around $215

- With a Medicare Advantage Plan and Part B - Around $240 or more

- With higher income placing you into a bracket with a $329.70 Part B premium - Around $330 or more if you also have Part D

The total amount taken out of your Social Security payment for Medicare can vary widely, but is generally between $165 and $500 per month depending on your coverage situation. Contact the Social Security Administration if you need help confirming exactly how much will come out of your specific Social Security check for Medicare. Contacting the SSA About Medicare Deductions

Each year, the Social Security Administration sends out letters to Medicare beneficiaries informing them of what their Medicare premiums will be for the upcoming year. The letters also provide an estimate of how much will be deducted from your Social Security payments.

If you have any questions about what your Medicare deductions will be or want to find out the exact amount that will come out of your specific Social Security check, you can:

- Call the SSA at 1-800-772-1213 

- Contact your local Social Security office in person

- Check your online Social Security account for benefit details and deductions  

- Carefully review the annual cost-of-living adjustment (COLA) letter you receive from Social Security

- Notify the SSA immediately if your income situation changes

Staying on top of your Medicare deductions each month and closely reviewing any letters from Social Security can help ensure you know what to anticipate financially. 

 Preparing for New Medicare Deductions  

If you'll soon be turning 65 and enrolling in Medicare for the first time, while also applying for Social Security retirement benefits, here are some tips to prepare:

- Review the income brackets for IRMAA to estimate whether you'll pay standard premiums or higher rates

- Understand that you'll be automatically enrolled in Medicare Part B unless you decline it 

- Know that Medicare Part A usually has no monthly premium cost

- Shop around for the best Part D prescription drug plan to fit your medications

- Consider either Medigap or Medicare Advantage Plans to supplement your coverage

- Be aware your premium costs will be retroactive if you retire and enroll mid-year 

- Plan the timing of your retirement carefully with Medicare and Social Security enrollment periods in mind

- Consult with a Medicare specialist if you need help evaluating your options

Doing your homework on how Medicare coordinates with Social Security can help ensure a smoother transition when you first go to enroll.

Why Medicare Costs Can Be Confusing  

Medicare enrollment choices, coverage options, premium rules and costs can be extremely complicated and confusing, especially for those new to the program. The system is not always intuitive or easy to navigate.

Be sure to take time to do extensive research so you understand all the intricacies of Medicare coverage. Reach out to free counseling resources like your State Health Insurance Assistance Program (SHIP) for unbiased support.

The more knowledge you can gain about how Medicare works in tandem with Social Security retirement benefits, the better prepared you'll be to make smart decisions about your coverage. While complex, resources exist to provide information and help.

We’re Here to Help

You do not have to spend hours reading articles on the internet to get answers to your Medicare questions. Give the licensed insurance agents at Golden Years Design Benefits a Call at 1-844-254-8998. You will get the answers you seek in a matter of minutes, with no pressure and no sales pitch. We are truly here to help.


 How much will be deducted from my social security check for Medicare cost in 2023? 

 In 2023, the standard Medicare Part B premium is $164.90 per month. This premium is automatically deducted from your monthly social security check if you are receiving Social Security benefits.

What are the different parts of Medicare Plans?

The two main parts of Original Medicare are Part A, which covers hospital insurance, and Part B, which covers medical insurance(Part A and Part B). Medicare Advantage Plans, or Medicare Part C, are offered by private companies approved by Medicare. Part D provides prescription drug coverage.

When can I sign up for Medicare? 

You can sign up for Medicare during your initial enrollment period, which starts 3 months before you turn 65, includes the month you turn 65, and ends 3 months after you turn 65. Contact the Social Security Administration to apply.

 How are Medicare premiums determined?

Medicare premiums are based on your income. Higher earners pay higher premiums. The standard premium for Part B is $164.90 per month in 2023 for most beneficiaries. Premiums for Part D prescription plans vary by plan.

What happens if I don't pay my Medicare premiums? 

 If you don't pay your Medicare Part B and/or Part D premiums, you could lose your benefits for those plans. Your monthly premiums are usually deducted from your Social Security check.

 Do Medicare Advantage Plans have premiums?

Yes, Medicare Advantage Plans can charge a monthly premium in addition to your Part B premium. Premiums vary by plan, so compare options carefully.

 What is the monthly premium for Medicare Part B in 2023?

 The standard monthly premium for Medicare Part B will be $164.90 in 2023 for most beneficiaries. This is an increase from $170.10 in 2022.

 Who pays for Medicare Part B coverage? 

 Medicare Part B premiums are paid by anyone enrolled in Medicare Part B. For most people, premiums are deducted automatically from monthly Social Security checks.

 How do I learn more about Medicare costs?

Contact the Social Security Administration or your State Health Insurance Assistance Program (SHIP) to learn about Medicare premiums, deductibles, and other costs. You can also review details at

What is the Part B deductible for 2023?

The Medicare Part B deductible in 2023 is $226. This is the amount you pay out-of-pocket before Medicare Part B begins covering services. This deductible applies to both Original Medicare and Medicare Advantage Part B costs.

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