The Centers for Medicare & Medicaid Services (CMS) released the 2024 Medicare premiums, deductibles, and coinsurance amounts for the different parts of Medicare on Friday. 

The 2024 Medicare Part B premium will be $174.70, a $9.80 increase from the 2023 Part B premium. Your Part B deductible will also increase from $226 in 2023 to $240 in 2024. CMS stated in their announcement: “The increase in the 2024 Part B standard premium and deductible is mainly due to projected increases in health care spending.”

Also, the Medicare Part A deductible has increased by $32 from $1,600 in 2023 to $1,632 in 2024.

For those Medicare beneficiaries affected by the income-related monthly adjustment amounts (IRMAA), the additional premium amount for Medicare Part B and D have increased.

Fact Sheet: 2024 Medicare Parts A & B Premiums and Deductibles | CMS

Drug Pricing: F, G & J Deductible Announcements | CMS

Follow more Medicare trending topics at Medicare Report

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