top of page

MEDICARE PREMIUMS

2024 Costs at a Glance

​

​

Premium-Free Part A

You usually don't pay a monthly premium for Medicare Part A (Hospital Insurance) coverage if you or your spouse paid Medicare taxes for a certain amount of time while working. This is sometimes called "premium-free Part A."

Most people get premium-free Part A.

You can get premium-free Part A at 65 if:

  • You already get retirement benefits from Social Security or the Railroad Retirement Board.

  • You're eligible to get Social Security or Railroad benefits but haven't filed for them yet.

  • You or your spouse had Medicare-covered government employment.

If you're under 65, you can get premium-free Part A if:

  • You got Social Security or Railroad Retirement Board disability benefits for 24 months.

  • You have End-Stage Renal Disease (ESRD) and meet certain requirements.

​

Part A premiums

​

If you don't qualify for premium-free Part A, you can buy Part A.

​

If you paid Medicare taxes for less than 30 quarters, the standard Part A premium is $505. If you paid Medicare taxes for 30-39 quarters, the standard Part A premium is $278 for 2024

​

In most cases, if you choose to buy Part A, you must also:

Contact Social Security for more information about the Part A premium.

 

Part B Premium

Some people automatically get Medicare Part B (Medical Insurance), and some people need to sign up for Part B. Learn how and when you can sign up for Part B.

​

If you don't sign up for Part B when you're first eligible, you may have to pay a late enrollment penalty.

​

The standard Part B premium amount in 2024 is $174.70 Most people pay the standard Part B premium amount. If your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount, you'll pay the standard premium amount and an Income Related Monthly Adjustment Amount (IRMAA). IRMAA is an extra charge added to your premium.  

​

Part C Premium

The Part C monthly premium varies by plan.

 

Part D Premium

The Part D monthly premium  varies by plan (higher-income consumers may pay more). 

If you don't sign up for Part D when you're first eligible, you may have to pay a late enrollment penalty.

new THEI LOGO (1)- Making healthcare Eas

Connect With Us

  • Facebook
  • Instagram
  • TikTok

1-800-380-6821

The Health Experts  would love your feedback.

 Click to post a review to our Google profile

©2024  The Health Experts Insurance.

Medicare has neither reviewed nor endorsed this information. 
By calling the number above you will be directed to a licensed insurance agent.

​

We do not offer every plan available in your area. Currently we represent 14 organizations which offer 82 products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.

bottom of page