In 2024, Medicare premiums will increase. Here is the price

In 2024, Medicare premium prices will change once more. The cost of Medicare Part B is anticipated to increase, while the cost of Medicare Part D is anticipated to drop. Below, we’ll reveal how much.

The Social Security Administration estimates what the expenses of the Medicare program are going to be every year. Then, using guidelines outlined in the Social Security Act, it either increases or decreases payments and expenditures.

If you have Medicare Parts B and D, these are the potential price changes. Here is the anticipated COLA rise for Social Security recipients for the upcoming year.

Medicare recipients are anticipated to cover the cost of a new Alzheimer’s drug that will soon hit the market (Leqembi, from the pharmaceutical companies Eisai and Biogen). Consequently, it is anticipated that Medicare Part B costs will rise in 2024. Costs are anticipated to rise from the present $164.90 to $174.80, or by almost $10 every month.