Medicare Costs at a Glance

Medicare Part A (Hospital Insurance) Costs

Part A monthly premium

Most people don’t pay a Part A premium because they paid Medicare taxes while working. If you don’t get premium-free Part A, you pay up to $505 each month. If you don’t buy Part A when you’re first eligible for Medicare (usually when you turn 65), you might pay a penalty.

Hospital stay

In 2024, you pay:

• $1,632 deductible per benefit period
• $0 for the first 60 days of each benefit period
• $408 per day for days 61–90 of each benefit period
• $816 per “lifetime reserve day” after day 90 of each benefit period (up to a
  maximum of 60 days over your lifetime)

Skilled Nursing Facility stay

In 2024, you pay:

• $0 for the first 20 days of each benefit period
• $204 per day for days 21–100 of each benefit period
• All costs for each day after day 100 of the benefit period

Medicare Part B (Medical Insurance) Costs

Part B monthly premium

Most people pay the standard Part B monthly premium amount ($174.70 in 2024).
Social Security will tell you the exact amount you’ll pay for Part B in 2024.

You pay the standard premium amount if you:

• Enroll in Part B for the first time in 2024.
• Don’t get Social Security benefits.
• Are directly billed for your Part B premiums.
• Have Medicare and Medicaid, and Medicaid pays your premiums.
  (Your state will pay the standard premium amount of $174.70 in 2024.)

If your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount, you’ll pay the standard Part B premium and an income-related monthly adjustment amount.

If you have questions about your Part B premium, call Social Security at 1-800-772-1213. TTY users can call 1-800-325-0778. If you pay a late enrollment penalty, these amounts may be higher.

2024 Part B deductible—$240 before Original Medicare starts to pay.

Medicare Advantage Plans (Part C) & Medicare Drug Coverage
(Part D) Premiums

Visit Medicare.gov/plan-compare to find and compare plan premiums. You can also call 1-800-MEDICARE (1-800-633-4227). TTY users can call 1-877-486-2048.

Part D monthly premium

The chart below shows your estimated drug plan monthly premium based on your income. If your income is above a certain limit, you’ll pay an income-related monthly adjustment amount in addition to your plan premium.

2024 Part D national base beneficiary premium — $34.70

Medicare uses the national base beneficiary premium to estimate the Part D late enrollment penalty and the income-related monthly adjustment amounts listed in the table above. This amount can change each year. If you pay a late enrollment penalty, these amounts may be higher.

For detailed information on costs and enrollment penalties

• Visit Medicare.gov/coverage to get more detailed Medicare cost information by
  service.
• Visit Medicare.gov/basics/costs/medicare-costs/avoid-penalties to learn how
  Medicare calculates late enrollment penalties.
• Call 1-800-MEDICARE (1-800-633-4227). TTY users can call 1-877-486-2048.