Are You Looking for Information on Medicare Coverage in 2024?

Find costs for Medicare coverage including premiums and deductibles for Part A and B.
Your HomeTown agents are here to help you understand your options when it comes to Medicare.

Medicare Annual Enrollment runs from October 15 – December 7.

Earlier this month, through the Centers for Medicare & Medicaid Services, the government released 2024 premiums, deductibles, and coinsurance amounts for Medicare Part A and B programs, plus Medicare Part D income-related monthly adjusted amounts.

The press release is here.

If you are looking for information on premiums for Medicare coverage in 2024, or need help sifting through the jargon surrounding Medicare Annual Enrollment, HomeTown Insurance & Financial Services Agents, are here to help you out.

There are many efforts underway to help make premium costs lower, and improve access to healthcare for people across the United States.

 Have questions, or need some help finding the right coverage?  Contact HomeTown for a free quote.

Medicare Part B Premium and Deductible

Covering physician’s services, outpatient hospital services, certain home health services, durable medical equipment, and certain other medical services not covered by Medicare Part A.

Standard Monthly Premiums for 2024 = $174.70

Standard Annual Deductible in 2024 = $240

Medicare Part A Deductible

Inpatient Hospital Deductible in 2024 = $1,632

 

2024 Medicare Coverage Base Costs

Full Part B Coverage
Beneficiaries who file individual tax returns with modified adjusted gross income: Beneficiaries who file joint tax returns with modified adjusted gross income: Income-Related Monthly Adjustment Amount Total Monthly Premium Amount
Less than or equal to $103,000 Less than or equal to $206,000 $0.00 $174.70
Greater than $103,000 and less than or equal to $129,000 Greater than $206,000 and less than or equal to $258,000 $69.90 $244.60
Greater than $129,000 and less than or equal to $161,000 Greater than $258,000 and less than or equal to $322,000 $174.70 $349.40
Greater than $161,000 and less than or equal to $193,000 Greater than $322,000 and less than or equal to $386,000 $279.50 $454.20
Greater than $193,000 and less than $500,000 Greater than $386,000 and less than $750,000 $384.30 $559.00
Greater than or equal to $500,000 Greater than or equal to $750,000 $419.30 $594.00
Part B Immunosuppressive Drug Coverage Only
Beneficiaries who file individual tax returns with modified adjusted gross income: Beneficiaries who file joint tax returns with modified adjusted gross income: Income-Related Monthly Adjustment Amount Total Monthly Premium Amount
Less than or equal to $103,000 Less than or equal to $206,000 $0.00 $103.00
Greater than $103,000 and less than or equal to $129,000 Greater than $206,000 and less than or equal to $258,000 $68.70 $171.70
Greater than $129,000 and less than or equal to $161,000 Greater than $258,000 and less than or equal to $322,000 $171.70 $274.70
Greater than $161,000 and less than or equal to $193,000 Greater than $322,000 and less than or equal to $386,000 $274.70 $377.70
Greater than $193,000 and less than $500,000 Greater than $386,000 and less than $750,000 $377.70 $480.70
Greater than or equal to $500,000 Greater than or equal to $750,000 $412.10 $515.10
Full Part B Coverage
Beneficiaries who are married and lived with their spouses at any time during the year, but who file separate tax returns from their spouses with modified adjusted gross income: Income-Related Monthly Adjustment Amount Total Monthly Premium Amount
Less than or equal to $103,000 $0.00 $174.70
Greater than $103,000 and less than $397,000 $384.30 $559.00
Greater than or equal to $397,000 $419.30 $594.00
Part B Immunosuppressive Drug Coverage Only
Beneficiaries who are married and lived with their spouses at any time during the year, but who file separate tax returns from their spouses with modified adjusted gross income: Income-Related Monthly Adjustment Amount Total Monthly Premium Amount
Less than or equal to $103,000 $0.00 $103.00
Greater than $103,000 and less than $397,000 $377.70 $480.70
Greater than or equal to $397,000 $412.10 $515.10
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
Beneficiaries who file individual tax returns with modified adjusted gross income: Beneficiaries who file joint tax returns with modified adjusted gross income: Income-related monthly adjustment amount
Less than or equal to $103,000 Less than or equal to $206,000 $0.00
Greater than $103,000 and less than or equal to $129,000 Greater than $206,000 and less than or equal to $258,000 $12.90
Greater than $129,000 and less than or equal to $161,000 Greater than $258,000 and less than or equal to $322,000 $33.30
Greater than $161,000 and less than or equal to $193,000 Greater than $322,000 and less than or equal to $386,000 $53.80
Greater than $193,000 and less than $500,000 Greater than $386,000 and less than $750,000 $74.20
Greater than or equal to $500,000 Greater than or equal to $750,000 $81.00
Beneficiaries who are married and lived with their spouses at any time during the year, but file separate tax returns from their spouses with modified adjusted gross income: Income-related monthly adjustment amount
Less than or equal to $103,000 $0.00
Greater than $103,000 and less than $397,000 $74.20
Greater than or equal to $397,000 $81.00

For additional information, see the press release @ CMS.gov here, and remember HomeTown agents are here for you.

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