Medicare announces Part B premiums in early November for the following year
Medicare Part B premiums for 2025 will be announced in early November 2024. The Centers for Medicare & Medicaid Services (CMS) typically releases the premium amount, deductible, and coinsurance figures during the first week of November each year. This timing gives people enrolled in Medicare about two months to understand their costs before coverage begins on January 1.
The announcement includes not just the monthly premium but also the annual deductible (the amount you pay out of pocket before Medicare starts to pay) and the coinsurance percentage (usually 20% of approved services after you meet the deductible). All three numbers can change year to year based on healthcare costs and program funding.
If you are already on Medicare, you will receive a notice in the mail called the "Medicare & You Handbook" or a separate premium notice. This notice arrives in late October or early November and shows your specific premium for 2025. If you are turning 65 or newly becoming may be able to access in 2025, you will receive your premium information when you first enroll.
Key Takeaways
- Medicare Part B premiums for 2025 are announced in early November 2024, with coverage changes taking effect January 1, 2025.
- The announcement includes the monthly premium, annual deductible, and coinsurance percentage — all three can change each year.
- Current Medicare enrollees receive a mailed notice showing their specific 2025 premium in late October or early November.
- If you receive Social Security, your Part B premium is usually deducted automatically from your monthly benefit payment.
- You have until December 31 to make changes to your coverage if the new premium affects your decision to stay enrolled.
How the announcement affects your monthly costs
The Part B premium you pay each month depends partly on your income. Most people pay the standard premium announced in November. However, if your modified adjusted gross income (MAGI) from two years prior was above a certain threshold, you pay a higher amount called an Income-Related Monthly Adjustment Amount (IRMAA).
For example, when the 2025 premiums are announced in November 2024, they will be based on 2023 income figures. If your income was higher in 2023, you may already be paying an IRMAA surcharge on top of the standard premium. The announcement in November will tell you whether that surcharge changes for 2025.
If you had a major life event in 2024 — such as retirement, a spouse's death, or a significant drop in income — you can request that Medicare use your 2024 income instead of 2023 income to calculate your IRMAA. You must file this request, called a Life-Changing Event form, with Social Security within 60 days of the event.
Where to find the official announcement
The official announcement comes from the Centers for Medicare & Medicaid Services (CMS) and is posted on Medicare.gov. You can also call Medicare directly at 1-800-MEDICARE (1-800-633-4227) to hear the premiums read aloud, or visit your local Social Security office.
News outlets and senior organizations often report the announcement on the day it is released, so you may see it covered in local news or in emails from organizations like AARP. However, the official source is always Medicare.gov or the mailed notice you receive.
Do not rely on estimates or predictions published before early November. Premium amounts are set by law and cannot be announced until CMS completes its calculations. Any number you see before the official announcement is a guess, not a confirmed figure.
What to do after the announcement
Once you receive your 2025 premium notice, review it carefully. Check that your name, Social Security number, and income level are correct. If you believe your income information is wrong, contact Social Security right away — errors in income data directly affect what you pay.
If the new premium is higher than you expected and you want to drop Part B coverage, you have until December 31, 2024, to notify Medicare. However, dropping Part B can result in a permanent penalty if you later want to re-enroll, so this decision should not be made lightly. Speak with a counselor before you decide.
If you cannot afford the new premium, you may be able to get help paying it through a program called Medicare Savings Programs (MSP). These are run by your state and help low-income Medicare enrollees pay premiums, deductibles, and coinsurance. You can learn whether you may have access to by contacting your state Medicaid office or calling 1-800-MEDICARE.
Understanding income thresholds and IRMAA surcharges
The income thresholds that trigger IRMAA surcharges are set each year and announced at the same time as the premiums. In recent years, these thresholds have been in the range of $97,000 to $194,000 for single filers and $194,000 to $388,000 for married couples filing jointly, but these amounts change annually. The 2025 thresholds will be announced in November 2024.
If your income is above the threshold, you pay a surcharge in addition to the standard premium. The surcharge amount depends on how far above the threshold your income is. Someone with income just above the threshold pays less than someone with income significantly higher.
The income used to calculate IRMAA is your modified adjusted gross income (MAGI) from your tax return from two years prior. This is why the 2025 surcharge is based on 2023 income. If you had a major life change in 2024, you can request that CMS use 2024 income instead, but you must ask within 60 days of the event.
When to contact Medicare with questions
If you have questions about your specific premium after you receive your notice, call Medicare at 1-800-MEDICARE. Have your notice in front of you when you call. Medicare representatives can explain why your premium changed, whether you may have access to for help paying it, and what your options are if you want to make changes to your coverage.
If you believe your income information is incorrect, contact Social Security at 1-800-772-1213 rather than Medicare. Social Security maintains the income records that Medicare uses to calculate IRMAA, so Social Security is the right place to request a correction.
If you are struggling to pay your premium, ask Medicare about Medicare Savings Programs or other financial help programs. These programs exist specifically to help people in your situation, and the counselors who answer the phone can tell you whether you might be may be able to access based on your income and assets.
Frequently Asked Questions
Can I see the 2025 Part B premium before the official announcement?
No. The premium is not set until CMS completes its calculations, which happens in early November. Any estimate you see before then is a prediction, not an official figure. The only reliable source is the announcement from Medicare.gov or your mailed notice.
What if I disagree with the income amount Medicare used to calculate my IRMAA?
Contact Social Security at 1-800-772-1213 with your tax return and any documents showing your actual income. If Social Security agrees the income is wrong, they will correct it and notify Medicare. You must request this correction within 60 days of receiving your notice.
Do I have to pay the new premium if I disagree with it?
Yes. You must continue paying your current premium while you dispute it. If the dispute is resolved in your favor, Medicare will refund the overpayment. If you stop paying without requesting a formal review, your coverage will end.
Can I change my Medicare plan after the premiums are announced?
Yes. The Annual Enrollment Period runs from October 15 to December 7 each year. You can switch to a different Medicare Advantage plan or Medigap plan during this time. Changes take effect January 1 of the following year.
What if the premium increase is too high for me to afford?
Contact your state Medicaid office or call 1-800-MEDICARE to learn about Medicare Savings Programs. These programs help low-income people pay premiums and other out-of-pocket costs. You may also be able to get help through Medicaid if your income is low enough.