Medicare beneficiaries will pay $174.70 in 2024, an increase of $9.80 from 2023, according to an Oct. 12 news release from CMS. The annual deductible will increase to $240 in 2024, up $14 from 2023.
The premium increase is mainly due to projected increases in healthcare spending, according to CMS.
Most Medicare beneficiaries do not pay a premium for part A coverage, which covers inpatient hospital care. The part A deductible will increase to $1,632 in 2024, up $32 from 2023.
Individuals with incomes higher than $103,000 annually pay a higher premium adjusted by income level.
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