2024 Medicare Parts A & B Premiums and Deductibles

The Centers for Medicare and Medicaid Services (CMS) recently announced their 2024 Copay/Deductibles. Listed below are basic costs for people with Medicare.

Features	2023	2024
Part A Inpatient Hospital Deductible	$1,600	$1,632
Hospital Coinsurance 61-90 days 91-150 days (lifetime reserve)	$400 $800	$408.00 $816.00
Skilled Nursing Facility Care Coinsurance Days 21-100	$200.00	$204.00
Part B Physician’s Services and Supplies Deductibles	$226.00	$240.00

The standard monthly premium for Medicare Part B will be $174.70 for 2024. This may be higher depending on your income.

For those who receive Social Security benefits, the average Part B premium will be about $174.70. Individuals will pay a different premium amount in 2024 if:

· They enroll in Part B for the first time in 2024.

· They don’t get Social Security benefits.

· They have Medicare and Medicaid, and Medicaid pays their premiums.

· Their modified adjusted gross income as reported on their IRS tax return from 2 years ago is above a certain amount.