The Centers for Medicare & Medicaid Services (CMS) has released the Part B premium and deductible costs for 2023. Railroad Medicare processes claims for Part B services.
This year saw a modest decrease in both costs. The 2023 annual Part B deductible decreased from $233 to $226, a $7.00 difference. The 2023 standard Part B premium amount also decreased from $170.10 in 2022 to $164.90 in 2023, which is a difference of $5.20. Per CMS, most people pay $164.90, although those with higher or lower incomes have monthly adjusted amounts.
The following table shows the monthly premium payments based on your 2021 income:
|If you filed an INDIVIDUAL Tax Return with income in 2021 of||If you filed a JOINT Tax Return with income in 2021 of||If you are married but filed a separate tax return with income in 2021 of||Part B premium you will pay each month in 2023|
|$97,000 or less||$194,000 or less||$97,000 or less||$164.90|
|Above $97,000 up to $123,000||Above $194,000 up to $246,000||Not applicable||$230.80|
|Above $123,000 up to $153,000||Above $246,000 up to $306,000||Not applicable||$329.70|
|Above $153,000 up to $183,000||Above $306,000 up to $366,000||Not applicable||$428.60|
|Above $183,000 and less than $500,000||Above $366,000 and less than $750,000||Above $97,000 and less than $403,000||$527.50|
|$500,000 or above||$750,000 or above||$403,000 or above||$560.50|
If you have questions about your Part B Premium, you can call the Railroad Retirement Board toll free at 877-772-5772, or for the hearing impaired (TTY) call 312-751-4701. General information can also be found at the RRB’s website at www.RRB.gov.
If you have questions about your Railroad Medicare coverage, you can call Palmetto GBA’s Beneficiary Contact Center at 800-833-4455, or for the hearing impaired, call TTY/TDD at 877-566-3572. Customer Service Representatives are available Monday through Friday, from 8:30 a.m. until 7 p.m. ET.
You are encouraged sign up for Palmetto’s free internet portal, MyRRMed. MyRRMed provides you with access to your claims information, along with historical Medicare Summary Notices, and a listing of individuals you have authorized to have access to your protected health information (PHI). You can also submit requests to add or change your authorized representatives through the portal. To access MyRRMed, please visit www.PalmettoGBA.com/MyRRMed.
Palmetto GBA is the Railroad Specialty Medicare Administrative Contractor (RRB SMAC) and processes Part B claims for Railroad Retirement beneficiaries nationwide. Palmetto GBA is contracted by the independent federal agency Railroad Retirement Board.