2024 Medicare Part B Premiums and Deductibles Increase Slightly (Health & Beauty - Health Services)
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2024 Medicare Part B Premiums and Deductibles Increase Slightly | |
The Centers for Medicare and Medicaid Services have unveiled the premium rates, deductibles, and coinsurance figures for Medicare Part A and Part B in 2024, along with the income-based monthly adjustments for Medicare Part D in the same year. What is the Impact of Part B Premiums and Deductibles On Medicare Costs? Medicare Part B encompasses a range of essential services including physician visits, outpatient hospital care, specific home health services, durable medical equipment, and various other medical treatments not covered under Medicare Part A. In 2024, the standard monthly premium for Medicare Part B enrollees will be $174.70, reflecting a $9.80 increase from the 2023 rate of $164.90. Additionally, the annual deductible for all Medicare Part B beneficiaries will rise to $240 in 2024, up by $14 from the previous year’s deductible of $226. The rise in the 2024 Part B standard premium and deductible is primarily attributed to projected increases in healthcare expenditures, compounded by adjustments related to the 340B-acquired drug payment policy from 2018 to 2022 under the Hospital Outpatient Prospective Payment System, as stated by CMS. Following a court ruling in July during the Medicare appealing case, CMS is planning to issue supplementary payments to affected providers for 340B-acquired drugs in the form of a one-time lump sum payment. Commencing in 2023, individuals whose full Medicare coverage concludes 36 months after a kidney transplant, and who lack specific alternative insurance coverage, have the option to continue Part B coverage for immunosuppressive drugs by paying a premium. For 2024, the standard premium for immunosuppressive drugs is set at $103. Since 2007, a beneficiary’s Part B monthly premium has been contingent on their income. These income-related monthly adjustments affect approximately 8% of individuals enrolled in Medicare Part B. Detailed information regarding the 2024 Part B total premiums for high-income beneficiaries with full Part B coverage can be found on the CMS website. | |
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| Target State: California Target City : Glendale Last Update : Oct 16, 2023 7:41 AM Number of Views: 71 | Item Owner : Brian Thomas Contact Email: Contact Phone: +1 08668542714 |
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2024-09-07 (0.385 sec)