"Medicare Part B Premiums Set to Rise in 2024"

The Centers for Medicare and Medicaid Services have announced that Medicare Part B premiums will increase by about 5.9% in 2024, with the standard premium rising to $174.70 per month. The Part B annual deductible will also increase by about 6.2% to $240. Additionally, Medicare Part A costs will rise, including an increase in the inpatient hospital deductible to $1,632. These increases come after a decline in Part B premiums in 2023 and coincide with a 3.2% cost-of-living increase in Social Security benefits for 2024.