Medicare Part B costs in 2024
The standard Medicare Part B premium for 2024 is $164.90 per month for most people who enroll. This is the amount deducted from your Social Security check each month, or billed directly if you don't receive Social Security. The deductible — the amount you pay out of pocket before Medicare starts to help — is $240 per year.
These are the baseline figures. Your actual cost may be higher if your income is above a certain threshold. Medicare uses a process called Income-Related Monthly Adjustment Amount (IRMAA) to calculate whether you pay more. If your modified adjusted gross income from two years prior exceeds $97,000 (for single filers) or $194,000 (for married couples filing jointly), you will pay a surcharge on top of the standard premium.
The income brackets and surcharge amounts change each year. For 2024, the highest earners pay up to $560.50 per month instead of $164.90. You will receive a notice from Social Security if IRMAA applies to you, and you have the right to request a review if your income has dropped since the year Medicare used to calculate your bracket.
Key Takeaways
- The standard Part B premium is $164.90 per month in 2024, with a $240 annual deductible.
- If your income is above $97,000 (single) or $194,000 (married), you will pay a higher premium based on your modified adjusted gross income from two years prior.
- Part B covers doctor visits, outpatient care, and some preventive services, but does not cover everything — you are responsible for 20% of approved costs after you meet the deductible.
- You can request an IRMAA review if your income has dropped due to retirement, job loss, or divorce since the year Medicare used to calculate your surcharge.
- Part B enrollment happens during specific windows; late enrollment penalties explore if you delay without may have access to for a Special Enrollment Period.
What Part B actually covers
Part B pays for doctor office visits, outpatient hospital services, diagnostic tests, and some preventive care — things like cancer screenings and annual wellness visits. It also covers durable medical equipment like wheelchairs and oxygen, and some mental health services. Once you meet the $240 deductible, Medicare pays 80% of the approved amount for most services, and you pay the remaining 20%.
Part B does not cover dental, vision, hearing aids, or long-term care. It also does not cover prescription drugs — that is Part D. Many people add a Medigap policy (supplemental insurance) or a Medicare Advantage plan to reduce their out-of-pocket costs, and those have their own premiums and rules.
Income thresholds and surcharges for 2024
If your modified adjusted gross income falls into one of these ranges, you will pay a surcharge in addition to the standard $164.90 premium:
| Modified Adjusted Gross Income (Single) | Modified Adjusted Gross Income (Married Filing Jointly) | Additional Monthly Amount |
|---|---|---|
| $97,001 to $121,275 | $194,001 to $242,550 | $65.90 |
| $121,276 to $145,500 | $242,551 to $291,000 | $164.70 |
| $145,501 to $169,750 | $291,001 to $339,500 | $263.60 |
| $169,751 to $194,000 | $339,501 to $388,000 | $362.40 |
| Over $194,000 | Over $388,000 | $395.90 |
Medicare bases these calculations on your tax return from two years before the year you are paying. For example, your 2024 premium is based on your 2022 income. If your income drops significantly — because you retire, lose a job, or go through a divorce — you can request that Medicare recalculate your surcharge using your current year's income instead.
When you enroll and what happens if you're late
Most people enroll in Part B when they turn 65, during their Initial Enrollment Period, which runs for three months before and after their birthday month. If you enroll during this window, your coverage starts the month you turn 65 (or the first of the month after your birthday, depending on when you were born).
If you miss this window and do not have other may have access to coverage, you will face a late enrollment penalty. This penalty is permanent — it increases your Part B premium by 10% for each full 12-month period you were not enrolled. For example, if you enroll three years late, you will pay 30% more than the standard premium for the rest of your life.
You can avoid the penalty if you have may have access to coverage through an employer or union, or if you are still working and covered by your employer's health plan. You must enroll within eight months of losing that coverage to avoid the penalty. If you are unsure whether your coverage counts, contact Social Security or Medicare before your Initial Enrollment Period ends.
How to pay your Part B premium
If you receive Social Security, Medicare automatically deducts your Part B premium from your monthly benefit. You will see the deduction on your Social Security statement. If you do not receive Social Security, Medicare sends you a bill each month, and you can pay by mail, phone, or online through the Medicare website.
If you cannot afford the standard premium, you may be able to get help through Medicaid or the Medicare Savings Program, which is run by your state. These programs pay some or all of your Part B premium and other out-of-pocket costs if your income and resources fall below certain limits. Income limits vary by state, so contact your state Medicaid office or call 1-800-MEDICARE to find out whether you may have access to.
Part B costs beyond the premium
The monthly premium is only one piece of what you pay. After you meet the $240 annual deductible, you are responsible for 20% of the Medicare-approved amount for most services. If a doctor charges more than Medicare approves, you may owe the difference — unless the doctor has agreed to accept Medicare's approved amount as full payment.
Costs add up quickly for people with chronic conditions or frequent doctor visits. Someone with diabetes who sees their doctor monthly and gets lab work done could easily pay $1,000 or more per year in out-of-pocket costs on top of the premium. This is why many people buy a Medigap policy, which covers some or all of the 20% coinsurance, or switch to a Medicare Advantage plan, which has different cost structures and often includes Part D prescription drug coverage.
Comparing Part B to Medicare Advantage
Original Medicare (Part A and Part B) gives you the freedom to see any doctor or hospital that accepts Medicare, but you pay the premium, deductible, and coinsurance. A Medicare Advantage plan is an alternative way to get Part A and B coverage through a private insurance company. Advantage plans often have lower or zero premiums, but they usually have networks — you must see doctors within the plan's network, except in emergencies.
Advantage plans also bundle in Part D prescription drug coverage and often include dental, vision, or hearing benefits that Original Medicare does not cover. However, you typically pay more per visit (a copay instead of 20% coinsurance), and you may need prior authorization from the plan before certain treatments. The right choice depends on your health, your doctors, and how much you use medical services. Many people switch between Original Medicare and Advantage plans during the Annual Enrollment Period (October 15 to December 7 each year).
Frequently Asked Questions
Can I reduce my Part B premium if my income drops?
Yes. If your income has dropped since the year Medicare used to calculate your IRMAA surcharge — because you retired, lost a job, or went through a divorce — you can request a review. Contact Social Security or Medicare and provide documentation of the income change. If approved, your surcharge will be recalculated based on your current income.
What if I'm still working at 65 — do I have to enroll in Part B?
No, if you are covered by your employer's health plan and are still actively working, you can delay Part B without penalty. You must enroll within eight months of retiring or losing that coverage. If you miss this window, the late enrollment penalty applies permanently.
Does Part B cover preventive care without the deductible?
Most preventive services — like annual wellness visits, cancer screenings, and flu shots — are covered at no cost after you enroll in Part B. You do not pay the deductible for these services. However, if your doctor finds a problem during a preventive visit and does additional testing or treatment, those services may be subject to the deductible and coinsurance.
What happens to my Part B if I move to another state?
Your Part B coverage continues nationwide — Medicare is federal. However, your out-of-pocket costs may change if you move, because some doctors and hospitals in your new state may not accept Medicare, or may charge differently. If you have a Medigap policy, you may need to switch plans when you move, depending on your state's rules.
Is there a way to get Part B for free?
No, there is no free Part B. However, if your income is very low, the Medicare Savings Program in your state may pay your premium and other costs. You must meet your state's income and resource limits. Contact your state Medicaid office or call 1-800-MEDICARE to learn whether you may have access to.