On October 12, the Centers for Medicare & Medicaid Services (CMS) announced the Medicare Part A and Part B 2024 premiums, deductibles, and coinsurance amounts!
You will notice that Part B premiums and deductibles are higher than last year, and this is due to projected increases in spending, as well as to remedy the 340B-Acquired Drug Payment Policy from 2018 to 2022.
Part B 2024 Costs
For 2024, the monthly Medicare Part B premium will be $174.70, an increase of $9.80 from $164.90 in 2023. The annual deductible for Medicare Part B beneficiaries will increase $14 from $226 in 2023 to $240 in 2024.
Here’s how your annual incomes will affect their Medicare Part B monthly premiums for 2024.
Full Part B Coverage
File Individual Tax Return
File Joint Tax Return
Monthly Adjustment
2024 Part B Monthly Premium
$103,000 or Less
$206,000 or Less
$0.00
$174.70
$103,001 to $129,000
$206,001 to $258,000
$69.90
$244.60
$129,001 to $161,000
$258,001 to $322,000
$174.70
$349.40
$161,001 to $193,000
$322,001 to $386,000
$279.50
$454.20
$193,001 to $499,000
$386,001 to $749,999
$384.30
$559.00
$500,000 or More
$750,000 or More
$419.30
$594.00
Sourced: RitterInsuranceMarketing 10/13/2023
Editor’s Note: Table information is from The Centers for Medicare & Medicaid Services.
2024 Medicare Part A and Part B Premiums and Deductibles
On October 12, the Centers for Medicare & Medicaid Services (CMS) announced the Medicare Part A and Part B 2024 premiums, deductibles, and coinsurance amounts!
You will notice that Part B premiums and deductibles are higher than last year, and this is due to projected increases in spending, as well as to remedy the 340B-Acquired Drug Payment Policy from 2018 to 2022.
Part B 2024 Costs
For 2024, the monthly Medicare Part B premium will be $174.70, an increase of $9.80 from $164.90 in 2023. The annual deductible for Medicare Part B beneficiaries will increase $14 from $226 in 2023 to $240 in 2024.
Here’s how your annual incomes will affect their Medicare Part B monthly premiums for 2024.
Full Part B Coverage
Sourced: RitterInsuranceMarketing 10/13/2023
Editor’s Note: Table information is from The Centers for Medicare & Medicaid Services.
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