top of page

2024 Medicare Part A Hospital Inpatient Deductible & Coinsurance.


                                                                          2024                                       2023
Part A Deductible                                              $1,632                                   $1.600.00
61-90 Days                                                       $408.00                                 $400.00
91+ Days (Lifetime reserve days)                     $816.00                                 $800.00
SNF 21-100 Days                                             $204.00                                 $200.00

Medicare Part B
Part B Deductible                                             $240.00                                   $226.00

HDF Deductible                                               $2800.00                                $2,700.00
OOP Limit Plan K                                            $7,060.00                               $6,940.00
OOP Limit Plan L                                            $3,530.00                                $3,470.00


Part B Premium

Standard monthly                                           $174.70                                   $164.90

The standard Part B premium amount in 2024 will be $174.70. Most people will pay the standard Part B premium amount. If your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount, you'll pay the standard premium amount and an Income Related Monthly Adjustment Amount (IRMAA). IRMAA is an extra charge added to your premium.

Enrollment Periods


Clients who have been receiving benefits from Social Security or the Railroad Retirement Board for at least four months before they turn 65, are enrolled into Medicare Part A and Part B insurance automatically. Those who have not been receiving benefits from disability (or the RRB) must sign up with Social Security to get Part A and Part B coverage. Either way, there WILL be a valid enrollment period to utilize, when enrolling clients into the plan that best fits their needs.  

  • Initial Enrollment Period – begins three months before the month you turn 65; is still open the month you turn 65 and ends three months after the month you turn 65.

  • General Enrollment Period – January 1 – March 31 (annually)

  • Annual Enrollment Period – October 15 – December 7

  • 8-Month Special Enrollment Period – starts a month after the employment ends, or the month after group health plan insurance, based on when current employment ends.

  • Special Enrollment Period - available if you’re a volunteer, serving in a foreign country. 

When Should Beneficiaries Enroll in Medicare?

In some cases, beneficiaries can be penalized for not enrolling into Medicare once they initially become eligible. It’s extremely important to understand what causes a “late-enrollment premium penalty” and exactly how the penalty can be avoided.

  • Part A - To avoid a penalty for Part A, you should apply for Medicare online or visit your local Social Security office during your IEP, if you don’t already receive Social Security or RRB benefits.

  • Part B - To avoid a penalty for Part B, you should apply for Medicare online or visit your local Social Security office during your IEP, if you don’t already receive Social Security or RRB benefits or have qualified group health plan coverage from an employer.

  • Part D - To avoid a penalty for Part D, you should join a Medicare drug plan during your IEP to prevent going 63 days or more in a row without creditable drug coverage.

Medicare Advantage Open Enrollment Period (OEP)


The Medicare OEP gives current Medicare Advantage enrollees a time frame to make a one-time change. The Open Enrollment for Medicare Advantage is from January 1st through March 31st.


What can you do?

  • If you’re in a Medicare Advantage Plan (with or without drug coverage), you can switch to another Medicare Advantage Plan (with or without drug coverage).

  • You can drop your Medicare Advantage Plan and return to Original Medicare. You'll also be able to join a Medicare Prescription Drug Plan.


What can't I do?

  • Switch from Original Medicare to a Medicare Advantage Plan.

  • Join a Medicare Prescription Drug Plan if you're in Original Medicare.

bottom of page