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)
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)
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.
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.
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.