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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.
If you have Medicare Part B and/or Medicare Part D prescription drug coverage, you could owe a monthly surcharge based on an income related monthly adjustment amount (IRMAA). Here's a look at...
Medicare Part B (medical insurance) premiums are based on your reported income from two years prior. The higher premiums based on income level are known as the Medicare Income-Related Monthly Adjustment Amount (IRMAA). The 2024 Medicare Part B premium costs by income level are as follows:
You pay higher Medicare Part B and Part D premiums if your income exceeds certain thresholds. Here are the IRMAA income brackets for 2024, 2025, and 2026.
Part B costs: What you pay in 2024: Premium: $174.70 each month ($185 in 2025) (or higher depending on your income). The amount can change each year. You’ll pay the premium each month, even if you don’t get any Part B-covered services. Who pays a higher Part B premium because of income?
In 2024, if your 2022 income exceeded $103,000 (for an individual return) or $206,000 (for a joint return), you will pay an extra amount on top of your plan’s Part B and Part D premiums. The...
What you pay 2024: Part B Premium: $174.70 each month ($185 in 2025) (or higher depending on your income). The amount can change each year. You’ll pay the premium each month, even if you don’t get any Part B-covered services. Who pays a higher premium because of income? How do I pay my Part B premiums?