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2024 Medicare Premiums, Deductibles and Coinsurance Amounts

2024 Medicare Part A, Part B, and Part D cost sharing amounts were released. Below are the standard premiums, deductibles, and copayments that most Medicare beneficiaries have to pay.  

Medicare Part A Cost Sharing

2024 Part A Deductible & Coinsurance Amounts by Type of Cost Sharing for Most Americans

Premium if you worked at least 40 quarters of Medicare-covered employment, determined by the Social Security Administration

$      0

Inpatient hospital deductible


Daily hospital coinsurance for 61st-90th day

$  408

Daily hospital coinsurance for lifetime reserve days

$  816

Skilled nursing facility daily coinsurance (days 21-100)

$  204

If you are considered high income or do not qualify for premium-free Medicare, your costs will be higher. View the CMS fact sheet with the costs for higher income individuals. 

What Medicare Part A Covers

Medicare Part A covers inpatient hospitals, skilled nursing facilities, hospice, inpatient rehabilitation, and some home health care services. 

Download Medicare Basics to learn more about the different parts of Medicare and what they cover. 

Medicare Part B Premium and Deductible

Full Part B Premium for Most Americans

Beneficiaries who file individual tax returns with modified adjusted gross income: Beneficiaries who file joint tax returns with modified adjusted gross income: Total Monthly Premium Amount Annual Deductible for all beneficiaries

Less than or equal to $103,000

Less than or equal to $206,000



If your income is higher than that listed above, your Medicare Part B premium will cost you more.  

What Medicare Part B Covers

Medicare Part B covers physicians’ services, outpatient hospital services, certain home health services, durable medical equipment, and certain other medical and health services not covered by Medicare Part A. 

The annual deductible for all Medicare Part B beneficiaries will be $240 in 2024, an increase of $14 from the annual deductible of $226 in 2023.

Part B Immunosuppressive Drug Coverage Only

Premiums for high-income beneficiaries with immunosuppressive drug only Part B coverage who are married and lived with their spouse at any time during the taxable year but file a separate return, are as follows:

Part B Immunosuppressive Drug Coverage Only

Beneficiaries who are married and lived with their spouses at any time during the year, but who file separate tax returns from their spouses with modified adjusted gross income:

Income-Related Monthly Adjustment Amount

Total Monthly Premium Amount

Less than or equal to $103,000

$  0.00


Greater than $103,000 and less than $397,000



Greater than or equal to $397,000



Medicare Part D Income-Related Monthly Adjustment Amounts

Part D premiums vary by your income and the plan you select. Some Medicare beneficiaries have to pay an income-related adjustable amount in addition to the monthly premium cost. Most people do not have to pay this income-adjusted amount. 

Beneficiaries who file individual tax returns with modified adjusted gross income: Beneficiaries who file joint tax returns with modified adjusted gross income:

Income-related monthly adjustment amount

Less than or equal to $103,000

Less than or equal to $206,000


What Medicare Part D Covers

All plans must cover a wide range of prescription drugs that people with Medicare take, including most drugs in certain protected classes, like drugs to treat cancer or HIV/AIDS.

New Insulin Benefit

In 2024, a new insulin benefit takes effect. A 1-month supply of each Part D-covered insulin is capped at $35. You do not have to pay a deductible. If you get a 60- or 90-day supply of insulin, your costs can’t be more than $35 for each month’s supply of each covered insulin.

American Exchange can help you find the best plan for your needs

Need help finding the right Medicare plan? American Exchange is here for you. Our independent, licensed insurance benefits experts will listen to your needs, then compare available plans, prices, networks, formularies, and tiers. We will also let you know if you qualify for cost-saving programs. We do not work for an insurance company, so we compare all plans available in your area  at no cost or obligation to you. Contact us today. 


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We publish a Medicare blog on the 4th Tuesday of every month, and more frequently during Medicare’s Annual Enrollment Period. Be sure to read our Medicare blog posts or flyers to better understand your coverage.

Medicare Disclaimer: We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact or 1-800-MEDICARE to get information on all of your options.

American Exchange is a licensed health insurance broker. Robert Huffaker, NPN 13568432

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