Medicare

2024 Medicare Premiums and Deductibles

On October 12, 2023, the Centers for Medicare & Medicaid Services (CMS) released the 2024 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs, and the 2024 Medicare Part D income-related monthly adjustment amounts.

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. Individuals with modified adjusted gross income in excess of $103,000 will pay a higher premium. 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.

The daily co-pay for rehabilitation days in a skilled nursing facility (days 21 – 100) will increase to $204.

Part A Deductible and Coinsurance Amounts for Calendar Years 2023 and 2024
by Type of Cost Sharing
2023 2024
Inpatient hospital deductible $1,600 $1,632
Daily hospital coinsurance for 61st-90th day $400 $408
Daily hospital coinsurance for lifetime reserve days $800 $816
Skilled nursing facility daily coinsurance (days 21-100) $200.00 $204.00

Published by
David McGuffey

Recent Posts

Social Security Disability versus Veteran’s Disability

The word disability doesn't have the same meaning in all contexts. If you have a…

19 hours ago

Social Security Announces 2.5 Percent Benefit Increase for 2025

On October 10, 2024, the Social Security Administration announced that Americans will increase a 2.5…

4 weeks ago

Getting Organized

Many people think that estate planning is just having documents prepared. They have a lawyer…

4 weeks ago

Beneficiary who accepted inheritance under Will could not bring action for tortious interference

In Chambers v. Edwards, 365 Ga. App. 482 (2022), William Chambers sued his sister, Kathy…

1 month ago

Medicaid’s payment of medical bills does not bar recovery from negligent party

When an injured party sues someone who negligently injured him or her, one form of…

1 month ago

Market Observations from David Hultstrom

From time to time we re-post David Hultstrom's Financial Foundations. Mr. Hultstrom, who is a…

1 month ago