The 2024 Medicare Part B Premium
The standard Medicare Part B premium for 2024 is $164.90 per month for most people. This is the amount deducted from your Social Security check each month, or the amount you pay directly to Medicare if you do not receive Social Security.
Part B covers doctor visits, outpatient care, lab tests, and medical equipment — the services you use outside a hospital. The premium you pay depends on your income. If you earned more in 2022, you may pay a higher amount in 2024, even if your income has changed since then. Medicare uses your tax return from two years prior to set your premium.
The standard premium increased by $5.20 from 2023 to 2024. This annual adjustment happens because Medicare's costs rise each year. The amount you see on your Medicare statement is your personal premium, which may be higher or lower than the standard amount based on your income level.
Key Takeaways
- The standard Part B premium in 2024 is $164.90 per month, but your actual premium depends on your income from two years earlier.
- If you earned more than $97,000 as a single filer in 2022, you will pay more than the standard amount in 2024.
- Your premium is deducted from your Social Security payment automatically, unless you asked Medicare to bill you directly.
- You can see your exact 2024 premium on your Medicare Summary Notice or by logging into your Medicare account online.
Income-Based Premium Amounts for 2024
Medicare uses an income-related monthly adjustment amount (IRMAA) to set your Part B premium. If your income was above a certain level in 2022, you pay more than the standard premium. The higher you earned, the higher your premium.
For single filers in 2022, the income brackets are:
| 2022 Income (Single) | 2024 Monthly Premium |
|---|---|
| $97,000 or less | $164.90 |
| $97,001 to $121,000 | $230.80 |
| $121,001 to $145,000 | $296.70 |
| $145,001 to $169,000 | $362.60 |
| $169,001 to $193,000 | $428.50 |
| $193,001 or more | $494.40 |
For married couples filing jointly, the income thresholds are higher. If you are married and your combined 2022 income was $194,000 or less, you pay the standard premium. Married filers earning more than $388,000 in 2022 pay the highest premium of $494.40 per month in 2024.
Your income includes wages, self-employment income, interest, dividends, and certain other sources reported on your tax return. It does not include Social Security benefits themselves.
When Your Premium Changes and How to Appeal
Your Part B premium is set once a year, in October, based on your prior-year tax return. The new premium takes effect the following January. You receive a notice in the mail explaining your premium and the income used to calculate it.
If your income dropped significantly in 2023 — because you retired, had a major loss, or experienced a life event — you may ask Medicare to use your current-year income instead. This is called a life-changing event appeal. You must report the change within 60 days of the event and provide proof, such as a tax return, letter from your employer, or divorce decree.
Common life-changing events include retirement, death of a spouse, divorce, loss of income, or a significant drop in earnings. If Medicare approves your appeal, your premium may be lowered retroactively to January of that year.
How and When Part B Premium Is Paid
If you receive Social Security, your Part B premium is deducted automatically from your monthly benefit. You see the deduction on your Social Security payment stub. Most people never write a check for Part B.
If you do not receive Social Security, or if you asked Medicare to bill you separately, you receive an invoice each month. Payment is due by the 30th of the month for coverage that month. You can pay by mail, phone, or online through your Medicare account.
If you miss a payment, Medicare sends a reminder. If you do not pay within three months, your Part B coverage can be terminated. You can restart it during the General Enrollment Period (January 1 to March 31 each year), but you may face a permanent penalty of 10 percent added to your premium for each full year you went without coverage.
What Part B Covers and What It Does Not
Your Part B premium pays for doctor office visits, preventive care like annual wellness exams and cancer screenings, lab tests, X-rays, and outpatient surgery. It also covers durable medical equipment such as wheelchairs, walkers, and oxygen supplies when prescribed by a doctor.
Part B does not cover dental care, vision exams, hearing aids, or routine foot care. It does not pay for prescription drugs — that is Part D. Hospital stays are covered under Part A, which has a separate deductible. If you need more coverage than Original Medicare provides, you may purchase a Medigap policy or join a Medicare Advantage plan, both of which have their own costs.
Finding Your 2024 Premium Amount
Your exact Part B premium appears on your Medicare Summary Notice, which Medicare mails to you each year. It also appears in your online Medicare account if you have created one at Medicare.gov.
To create a Medicare account, go to Medicare.gov, click "Sign In," and select "Create an account." You will need your Social Security number and email address. Once logged in, you can view your premium, coverage details, and claims history.
If you cannot find your premium amount or believe it is wrong, you can call Medicare at 1-800-MEDICARE (1-800-633-4227). Representatives are available Monday through Friday, 8 a.m. to 8 p.m. Eastern time. Have your Medicare card and Social Security number ready.
Frequently Asked Questions
Why did my Part B premium go up so much from last year?
Your premium increased because your 2022 income was higher than your 2023 income, or because the standard premium itself rose. Medicare uses your tax return from two years back, so a one-time event like a large bonus, inheritance, or retirement account withdrawal in 2022 can push you into a higher bracket for 2024. If your circumstances have changed, you may request an appeal.
Can I lower my Part B premium if my income dropped?
Yes, if you experienced a life-changing event in 2023 such as retirement, job loss, or death of a spouse, you can ask Medicare to recalculate your premium using your current income. You must report the change within 60 days and provide proof. Contact Medicare at 1-800-MEDICARE to start an appeal.
What happens if I cannot afford my Part B premium?
Some people with limited income may be covered under the Medicaid program, which can pay your Part B premium for you. Contact your state Medicaid office to learn whether you may have access to. You can also ask a social worker at your local senior center or Area Agency on Aging for other resources.
Do I have to pay Part B if I am still working?
If you are still working and have health insurance through your employer, you may be able to delay Part B without penalty. However, you must have creditable coverage — meaning your employer plan is as good as or better than Medicare Part B. Once you leave your job, you have eight months to enroll in Part B without penalty. If you miss this window, a permanent penalty applies.
Is the Part B premium the same in every state?
Yes, the standard Part B premium and income-based amounts are the same nationwide in 2024. However, your actual premium depends on your individual income, not your state of residence.