"Medicare Part B Premiums Set to Increase in 2024, Major Payers Offer New Benefits"
Medicare Part B premiums will increase by nearly $10 in 2024, with the standard monthly premium rising to $174.70. The increase is mainly due to projected increases in healthcare spending and proposed payments to hospitals serving disadvantaged patients. The annual Part B deductible will also rise to $240. This premium increase will result in retirees seeing a monthly bump of less than $50 in their Social Security benefits, which will have a 3.2% cost-of-living adjustment for 2024.