Here’s a rundown of what you can expect to pay for Medicare premiums.
Medicare Part A cost
Part A typically helps cover inpatient services, such as hospital stays and care at a Skilled Nursing Facility (SNF). If you’ve worked and paid Medicare taxes for at least 10 years, you don’t pay a premium for Part A. If you (or your spouse) did not pay Medicare taxes while you worked, you may be able to buy Medicare Part A. In 2024, the Part A premium can be up to $505/month.
Medicare Part B cost
Part B helps cover medically necessary services, outpatient care and some preventive services. Everyone enrolled in Part B pays a monthly premium. In 2024, the standard Part B premium is $174.70 (or higher depending on your income). Social Security will tell you the exact amount you’ll pay for a Part B premium.
For a look at more Medicare costs including coinsurance, copayments and deductibles, see how much Parts A, B, C and D cost in 2023.