2024 Medicare Premiums, Deductibles and Co-Pays
Hospital Deductible: $1,632 for each benefit period
Hospital Coinsurance:
Days 1-60: $0 per day
Days 61-90: $408 per day
Days 91-150: $816 per day
Skilled Nursing Facility Coinsurance:
Days 1-20: $0
Days 21-100: $204/ day
Note: If you are in a private Medicare Advantage Plan, in which your Medicare benefits are administered by an insurance company, costs vary by plan and may be either higher or lower than those noted above.
Medicare Part B Deductible: $240 / year
Medicare Part B and Part D Income-Related Premiums
The Medicare Part B premium is $174.70 in 2024, however some beneficiaries are charged less to prevent the premium increase from reducing their net Social Security income. Other beneficiaries pay a higher premium based on income. Premiums for Part D are also income-based. For Part D, the plan premium is paid to the insurance plan and the additional income-based premium is paid to Medicare. Income-based premiums are based on your tax return from the most recent tax year.
Medicare Part B and Part D Late Enrollment Penalties: If you don’t sign up for Part B or Part D when you’re first eligible, you may have to pay a late enrollment penalty. The penalty is an increase in the amount of your monthly Part B or Part D premiums for as long as you have Medicare.