Revision 24-1; Effective March 1, 2024
In most cases, the Medicare Part B premium is deducted from the Social Security or Railroad Retirement check. In some situations, a person will be billed for the Medicare Part B premium, usually by quarterly invoice.
The standard Medicare Part B premium changes from year to year. For 2024, the standard premium is $174.70 per month. This amount can vary due to several factors:
- The premium can be higher than standard if a person did not enroll in Medicare the year they became eligible to enroll.
- The premium can be lower than standard if the Retirement, Survivors and Disability Insurance (RSDI) cost-of-living adjustment (COLA) is less than any increase in the monthly Medicare premium. The new monthly RSDI benefit cannot be less than the previous year's benefit.
- The premium can be lower than standard if a person is enrolled in a Medicare Advantage Plan (Medicare Part C), which may offer a Medicare Part B premium discount.
Staff must use the Medicare Part B premium amount as verified in the State Online Query (SOLQ) or Wire Third-Party Query (WTPY).
The standard monthly Medicare Part B premium is:
Date Range | Amount |
---|---|
Jan. 1, 2024 to Present | $174.70 |
Jan. 1, 2023 to Dec. 31, 2023 | $164.90 |
Jan. 1, 2022 to Dec. 31, 2022 | $170.10 |
Jan. 1, 2021 to Dec. 31, 2021 | $148.50 |
Jan. 1, 2020 to Dec. 31, 2020 | $144.60 |
Jan. 1, 2019 to Dec. 31, 2019 | $135.50 |
Jan. 1, 2018 to Dec. 31, 2018 | $134.00 |
Jan. 1, 2017 to Dec. 31, 2017 | $134.00 |
Jan. 1, 2016 to Dec. 31, 2016 | $121.80 |
Jan. 1, 2013 to Dec. 31, 2015 | $104.90 |
Jan. 1, 2012 to Dec. 31, 2012 | $99.90 |
Jan. 1, 2011 to Dec. 31, 2011 | $115.40 |