Medicare Deductible & Premium

Medicare Deductible:

• A deductible is a fixed amount that a patient needs to pay before the insurance company starts paying.

• The deductible amount may vary by the plan and it starts over every year. A patient needs to reach this deductible amount each year before the insurance company starts paying.

• CMS releases Medicare deductible amounts every year and below is the list of medicare deductible amounts released by CMS in the last few years,

 

Medicare Premium:

• CMS releases Medicare premium amounts every year.

• Medicare beneficiaries do not have a Part A premium since they have at least 40 quarters of Medicare-covered employment.

• For the year 2024, the standard monthly premium for Medicare Part B enrollees is $174.70 but it differs based on medicare beneficiaries' high income.

 

• Premiums for high-income beneficiaries who are married and lived with their spouse at any time during the taxable year, but file a separate return, are as follows: