CMS announces Medicare premiums, deductibles for 2024

Oct 13, 2023 - 03:31 PM
CMS Update pic

The Medicare Part A deductible for inpatient hospital services will increase by $32 in calendar year 2024, to $1,632, the Centers for Medicare & Medicaid Services announced Oct. 12. The Part A daily coinsurance amounts will be $408 for days 61-90 of hospitalization in a benefit period; $816 for lifetime reserve days; and $204 for days 21-100 of extended care services in a skilled nursing facility in a benefit period. The monthly Part A premium, paid by beneficiaries who have fewer than 40 quarters of Medicare-covered employment and certain people with disabilities, will decrease by $1 in CY 2024 to $505, CMS announced. Certain voluntary enrollees eligible for a 45% reduction in the monthly premium will pay $278 in CY 2024.

The annual deductible for Medicare Part B will increase by $14 in 2024 to $240, while the standard monthly premium for Medicare Part B will increase by $9.80 to $174.70, CMS announced. For more information, see the CMS fact sheet. 

Related News Articles

Headline
KFF: Medicare spent 27% more for people who disenrolled from MA than those continuously in Traditional Medicare
An analysis by KFF released last week found that in 2022, Medicare spent 27% ($2,585) more, on average, for individuals covered by Traditional Medicare after…
Headline
Bipartisan letter calling for prevention of Medicaid DSH cuts gets signatures from 182 members of Congress
A House Dear Colleague letter calling on House leadership to address scheduled Medicaid Disproportionate Share Hospital payment cuts received signatures from…
Headline
AHA responds to Medicare $2 Drug List Model request for information
The AHA Dec. 9 said it supports a potential Medicare $2 Drug List Model, where people enrolled in a Part D plan would have access to certain prescription drugs…
Headline
AHA supports physician reimbursement, alternative payment model incentives in comments to MedPAC
In comments Dec. 9 to the Medicare Payment Advisory Commission, the AHA shared its views on physician fee schedule payments, advanced alternative payment model…
Headline
CMS releases proposed rule for 2026 Medicare Advantage, prescription drug plans
The Centers for Medicare & Medicaid Services Nov. 26 proposed changes to the Medicare Advantage and prescription drug programs for contract year 2026.…
Headline
AHA comments on CMS’ FY 2025 IPPS low wage policy
The AHA commented Nov. 26 on the Centers for Medicare & Medicaid Services’ hospital inpatient prospective payment system interim final action on revising…