Medicare Part B premiums and costs for 2024

The standard Medicare Part B premium in 2024 is $164.90 per month for most people. This is the amount deducted from your Social Security check each month, or billed directly if you don't receive Social Security.

However, your actual premium may be higher or lower depending on your income. Medicare uses a system called Income-Related Monthly Adjustment Amount (IRMAA) that raises premiums for higher earners. If your modified adjusted gross income from two years ago was above a certain threshold, you'll pay more — sometimes significantly more.

Beyond the monthly premium, Part B also has an annual deductible, copayments for doctor visits, and coinsurance for certain services. Understanding the full cost picture helps you budget for healthcare and know what to expect when you see a provider.

Key Takeaways

  • The standard Part B premium is $164.90 per month in 2024, but higher-income beneficiaries pay more through IRMAA surcharges.
  • Part B has an annual deductible of $240 in 2024, which you pay once per year before Medicare begins to share costs.
  • After you meet the deductible, you typically pay 20% coinsurance for doctor visits, lab tests, and outpatient services.
  • Your actual premium depends on your income from 2022 (the most recent tax year Medicare uses), so changes in income may affect what you pay in future years.
  • If you delay enrolling in Part B without a valid reason, you may face a permanent penalty on top of your premium.

Income-based premium increases (IRMAA) explained

If your income is above a certain level, Medicare adds a surcharge to your standard Part B premium. In 2024, the income thresholds are based on your modified adjusted gross income from your 2022 tax return. For single filers, the base threshold is $97,000; for married couples filing jointly, it's $194,000.

The surcharges increase in steps. Someone with income between $97,001 and $121,000 (single) pays an extra $66 per month on top of the standard premium. Those with income above $500,000 (single) or $750,000 (married) pay the highest surcharge of $560.50 per month. The exact amount depends on which income bracket you fall into.

These thresholds and surcharge amounts change each year. If your income drops — for example, after you retire or if you have a significant life event — you can request that Medicare recalculate your premium based on your current income rather than waiting for the next year's adjustment.

Part B deductible and coinsurance costs

Beyond the monthly premium, you also pay an annual deductible of $240 in 2024. This means you pay the full cost of covered services until you've spent $240 out of pocket. Once you meet the deductible, Medicare pays its share and you pay coinsurance.

For most Part B services — doctor office visits, lab tests, imaging, and outpatient procedures — you pay 20% of the Medicare-approved amount after the deductible. Medicare pays the other 80%. The amount you owe depends on what the service costs and what Medicare considers the approved amount in your area.

Some services have different cost-sharing rules. For example, preventive services like annual wellness visits, cancer screenings, and vaccinations are covered at no cost after you meet the deductible. Mental health services and physical therapy also have specific copayment or coinsurance amounts that may differ from the standard 20%.

What services Part B covers and what they cost

Part B covers doctor visits, specialist care, lab work, imaging (X-rays and ultrasounds), outpatient surgery, and durable medical equipment like wheelchairs and oxygen. It also covers mental health services, physical therapy, occupational therapy, and speech-language pathology when medically necessary.

The cost you pay for each service depends on whether it's preventive or treatment-related. Preventive services — such as your annual wellness visit, colonoscopy, mammogram, or flu shot — are free after you meet the deductible. For treatment services, you pay 20% coinsurance after the deductible.

Part B does not cover routine dental care, vision exams for glasses or contacts, hearing aids, or most routine foot care. It also does not cover services deemed not medically necessary. If your doctor orders a service that Medicare doesn't cover, you'll receive a notice in advance so you can decide whether to pay out of pocket.

How to pay your Part B premium

If you receive Social Security, your Part B premium is automatically deducted from your monthly benefit. You'll see the amount listed on your Social Security statement each month. If you don't receive Social Security, Medicare bills you directly by mail, usually on the first of each month.

You can also choose to pay by automatic bank withdrawal, which some people find easier to track. To set up automatic payments, contact Medicare at 1-800-MEDICARE or log into your Medicare account at Medicare.gov.

If you have trouble paying your premium, you may be able to get help through your state's Medicaid program or through a Medicare Savings Program. These programs vary by state, so contact your state Medicaid office or call 1-800-MEDICARE to learn what's available where you live.

When Part B costs increase and how to plan ahead

Part B premiums and deductibles change each year, usually announced in the fall for the following year. The standard premium typically increases, though the amount varies. In recent years, increases have ranged from small adjustments to larger jumps, depending on healthcare costs and inflation.

Your personal premium may also change if your income changes. If you had a major life event — such as retirement, a spouse's death, or a significant drop in income — you can ask Medicare to recalculate your IRMAA based on your current situation rather than your prior-year tax return. You'll need to provide documentation of the change.

To stay informed about cost changes, check your Medicare Summary Notice each year, which shows your premium amount and any adjustments. You can also visit Medicare.gov or call 1-800-MEDICARE to confirm your costs before the new year begins.

Part B enrollment and late-enrollment penalties

Most people enroll in Part B when they turn 65 and become may be able to access for Medicare. If you delay enrollment without a valid reason — such as continuing employer health coverage — you'll pay a permanent penalty on top of your premium for as long as you have Part B.

The penalty is 10% of the standard premium for each full year you could have enrolled but didn't. In 2024, that means an extra $16.49 per month for each year of delay. This penalty stays with you even if you enroll later, so it's important to enroll on time unless you have coverage that qualifies as an exception.

If you're still working and covered by your employer's health plan, you may be able to delay Part B without penalty. You'll need to provide proof of your employer coverage when you eventually enroll. Contact Medicare or your employer's benefits office to confirm whether your coverage qualifies.

Frequently Asked Questions

Will my Part B premium go up if I'm still working?

Your premium is based on your income from two years prior, not your current income. If you're working now but your 2022 income was lower, your 2024 premium reflects that older figure. However, when 2025 premiums are set, they'll be based on your 2023 income, which may be higher if you earned more that year.

Can I drop Part B if I don't think I'll use it?

You can drop Part B, but you'll face a permanent penalty if you enroll later without a valid reason. The penalty is 10% of the standard premium for each year you were without coverage. It's usually better to keep Part B even if you don't use it much, to avoid this lifelong surcharge.

What happens if I can't afford my Part B premium?

Several programs may help. Medicare Savings Programs, run by your state, can pay your Part B premium and other costs if your income is low enough. Medicaid may also cover premiums in some states. Call 1-800-MEDICARE or your state Medicaid office to learn what programs are available in your area.

Does Part B cover telehealth visits?

Yes. Part B covers telehealth visits with your doctor or other healthcare providers, and you pay the same coinsurance (usually 20% after the deductible) as you would for an in-person visit. Not all providers offer telehealth, so ask your doctor's office whether they do.

What if Medicare denies a service I thought Part B covered?

You'll receive a notice explaining why the service wasn't covered. You have the right to appeal the decision. The notice will include instructions on how to file an appeal and the important date for doing so. You can also contact 1-800-MEDICARE for help understanding the denial.