For Further Information:Ĭontact: Martha Wagley at 41 for actuarial issues or Derrick Claggett at (410) 786-2113 for policy related issues. The increase in the applicable CPI-U from 2022 to 2023 is 8.26%, which results in a deductible of $2,700 after rounding to the nearest $10 in accordance with section 1882(p)(11)(C)(ii) of the Social Security Act. This provision prescribed a deductible of $1, and directed that the amount increase each subsequent year by the percent increase in the CPI-U, all items, US city average. The deductible for plans F, G and J is determined in accordance with section 1882(p)(11)(C)(i) of the Social Security Act. CMS updates the deductible amount for plans G, F and J each year, after release of the August Consumer Price Index for all Urban Consumers (CPI-U) figures by the Bureau of Labor Statistics, which generally occurs in mid-September. The deductible amount for the high deductible version of plans G, F and J represents the annual out-of-pocket expenses (excluding premiums) that a beneficiary must pay before these policies begin paying benefits. People new to Medicare are those who turn 65 on or after January 1, 2020, and those who first become eligible for Medicare benefits due to age, disability or ESRD on or after January 1, 2020.Įffective January 1, 2023, the annual deductible amount for these three plans is $2,700. High deductible G is available to individuals who are new to Medicare on or after. The high deductible version of Plan F is only available to those who are not new to Medicare before. Before June 1, 2010, Medigap Plan J could also be sold with a high deductible. Medicare supplemental (Medigap) Plans F and G can be sold with a high deductible option. October 2022 Announcement Deductible Amount for Medigap High Deductible Options F, G & J for Calendar Year 2023 Summary:
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