WASHINGTON – Following a push led by Senator Maggie Hassan (D-NH), the administration announced today that monthly Medicare Part B premiums will decrease by 3% – the first time that premiums have gone down in over a decade – and that the Medicare Part B deductible will also go down.
“As seniors struggle with high health care costs, I am glad that the administration heeded my call to lower Medicare premiums, averting a potential price hike. This is one step in the right direction to lower health care costs, and it’s also critically important that we recently passed into law legislation that will lead to lower prescription drug prices for those on Medicare, and help drive down prices across the board. I’ll keep pushing to bring down costs for seniors and all Granite Staters,” said Senator Hassan.
Last year, Senator Hassan led four of her colleagues in calling on the administration to prevent increases in Medicare Part B premiums, which covers doctor visits, outpatient hospital services, and more. As the Senators wrote at the time, “Seniors cannot afford these increased health care costs. At a time when costs are increasing in many areas, we should be looking for ways to reduce costs, not add to them – particularly for seniors and others living on fixed incomes.”
In addition to today’s announcement, Senator Hassan previously worked with her colleagues to pass into law the Inflation Reduction Act, which will lead to lower health care costs. The law allows Medicare to negotiate prescription drug prices, a measure that Senator Hassan has pressed for, which will bring down the cost of prescription drugs for Medicare beneficiaries and help drive down prices across the board. It also caps out-of-pocket expenses for Medicare Part D prescription drugs, while also capping insulin costs for those on Medicare.