On October 12th, the Centers for Medicare & Medicaid Services released a Fact Sheet with 2024 premiums, deductibles, and coinsurance amounts for Medicare Part A and Part B, among other information.
- Medicare Part B Premiums/Deductibles: The standard monthly premium for Medicare Part B enrollees will be $174.70 for 2024, an increase of $9.80 from $164.90 in 2023. The annual deductible for all Medicare Part B beneficiaries will be $240 in 2024, an increase of $14 from the annual deductible of $226 in 2023.
- Medicare Part A Premiums/Deductibles: The Medicare Part A inpatient hospital deductible that beneficiaries pay if admitted to the hospital will be $1,632 in 2024, an increase of $32 from $1,600 in 2023. In 2024, beneficiaries must pay a coinsurance amount of $408 per day for the 61st through 90th day of a hospitalization ($400 in 2023) in a benefit period and $816 per day for lifetime reserve days ($800 in 2023). For beneficiaries in skilled nursing facilities, the daily coinsurance for days 21 through 100 of extended care services in a benefit period will be $204.00 in 2024 ($200.00 in 2023).
See the CMS Fact Sheet for additional information, including income-based adjustments to Part B premiums and the Medicare Part D income-related monthly adjustment amounts.
