Medicare Premiums
Medicare announces premiums, deductibles, copayments for 2024
The Centers for Medicare & Medicaid Services (CMS) recently announced 2024 premiums, deductibles, and copayments for Medicare Part A, Medicare Part B, and Medicare Supplements:
Monthly Medicare Part B premium - $174.70 standard premium for most (see Part B premium table below for income related amounts)
Annual Medicare Part B deductible - $240 annual
Monthly Medicare Part A premium - $505 per month
Medicare Part A hospital deductible - $1,632 per benefit period
Part A copayment (hospital days 61-90) - $408 per day
Part A copayment (hospital days 91-150) - $816 per day
Part A copayment (Skilled Nursing Facility Care days 21-100) - $204 per day
Annual deductible Plan HDF and Plan F+ - $2,800 (2024)
Annual out-of-pocket expense limit for Plan K - $7,060 (2024)
Annual out-of-pocket expense limit for Plan L - $3,530 (2024)
Part B Monthly Premium
You pay a Part B premium each month. Most people will pay the standard premium amount. However, if your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount, you'll pay the standard premium amount and an Income Related Monthly Adjustment Amount (IRMAA). IRMAA is an extra charge added to your premium. In 2024, the standard Part B premium will be $174.70 (or higher depending on your income).
If your yearly income in 2022 (for what you pay in 2024)
File individual tax return | File joint tax return | File married & separate tax return | You pay in 2023 | You pay in 2024 (2022 income) |
| $103,000 or less | $206,000 or less | $103,000 or less | $164.90 | $174.70 |
| above $103,001 up to $129,000 | above $206,001 up to $258,000 | N/A | $230.80 | $244.60 |
| above $129,001 up to $161,000 | above $258,001 up to $322,000 | N/A | $329.70 | $349.40 |
| above $161,001 up to $193,000 | above $322,001 up to $386,000 | N/A | $428.60 | $454.20 |
| above $193,001 up to $499,999 | above $386,001 up to $749,999 | above $103,001 and less than $396,999 | $527.50 | $559.00 |
| $500,000 or above | $750,000 and above | $397,000 and above | $560.50 | $594.00 |
Medicare Advantage Plans (Part C) and Medicare Prescription Drug Plans (Part D) Premiums
Visit Medicare.gov/find-a-plan to get plan premiums. You can also call 1‑800‑MEDICARE (1- (800) 633-4227). TTY users should call 1‑ (877) 486‑2048 (24 hours a day/7 days a week). You can also call the plan or your State Health Insurance Assistance Program.
Part D Monthly Premium
The chart below shows your estimated prescription drug plan monthly premium based on your income. If your income is above a certain limit, you will pay an income-related monthly adjustment amount in addition to your plan premium.
If your yearly income in 2022 (for what you pay in 2024)
File individual tax return | File joint tax return | File married & separate tax return | You pay in 2023 | You pay in 2024 (2022 income) |
| $103,000 or less | $206,000 or less | $103,000 or less | Your plan premium | Your plan premium |
| above $103,001 up to $129,000 | above $206,001 up to $258,000 | N/A | $12.20 + plan premium | $12.90 + plan premium |
| above $129,001 up to $161,000 | above $258,001 up to $322,000 | N/A | $31.50 + plan premium | $33.30 + plan premium |
| above $161,001 up to $193,000 | above $322,001 up to $386,000 | N/A | $50.70 + plan premium | $53.80 + plan premium |
| above $193,001 up to $499,999 | above $386,001 up to $749,000 | above $103,000 and less than $396,999 | $70.00 + plan premium | $74.20 + plan premium |
| $500,000 or above | $750,000 and above | $397,000 and above | $76.40 + plan premium | $81.00 + plan premium |
2024 Part D National Base Beneficiary Premium—$34.70 in 2024
This figure is used to estimate the Part D late enrollment penalty and the income-related monthly adjustment amounts listed in the table above. The national base beneficiary premium amount can change each year. See your Medicare & You handbook or visit Medicare.gov for more information.
For more information about Medicare costs, visit Medicare.gov.