Hill October 12, 2023
The Centers for Medicare and Medicaid Services (CMS) announced the monthly Medicare Part A and B premiums for 2024 on Thursday, with the costs set to go up by 6 percent next year.
The premiums would increase by $9.80 from $164.90 to $174.70 in 2024 and the annual deductible for Medicare Part B beneficiaries will go up from $226 to $240 as well. This price increase comes after Medicare Part B premiums went down for the first time in more than 10 years in 2023.
Medicare Part B covers medically necessary services and preventive services, which include mental health services, some outpatient prescription drugs, ambulance services and durable medical equipment.
The premium announced Thursday falls in line with what the...
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