Medicare Part A Premium and Deductible
Medicare Part A covers inpatient hospitals, skilled nursing facilities, hospice, inpatient rehabilitation, and some home health care services. About 99 percent of Medicare beneficiaries do not have a Part A premium since they have at least 40 quarters of Medicare-covered employment, as determined by the Social Security Administration.
The Medicare Part A inpatient hospital deductible that beneficiaries pay if admitted to the hospital will be $1,632 in 2024, an increase of $32 from $1,600 in 2023. The Part A inpatient hospital deductible covers beneficiaries’ share of costs for the first 60 days of Medicare-covered inpatient hospital care in a benefit period. In 2024, beneficiaries must pay a coinsurance amount of $408 per day for the 61st through 90th day of a hospitalization ($400 in 2023) in a benefit period and $816 per day for lifetime reserve days ($800 in 2023). For beneficiaries in skilled nursing facilities, the daily coinsurance for days 21 through 100 of extended care services in a benefit period will be $204.00 in 2024 ($200.00 in 2023).
| Part A Deductible and Coinsurance Amounts for Calendar Years 2023 and 2024 by Type of Cost Sharing |
||
| 2023 | 2024 | |
| Inpatient hospital deductible | $1,600 | $1,632 |
| Daily hospital coinsurance for 61st-90th day | $400 | $408 |
| Daily hospital coinsurance for lifetime reserve days | $800 | $816 |
| Skilled nursing facility daily coinsurance (days 21-100) | $200.00 | $204.00 |
Enrollees age 65 and older who have fewer than 40 quarters of coverage and certain persons with disabilities pay a monthly premium in order to voluntarily enroll in Medicare Part A. Individuals who had at least 30 quarters of coverage or were married to someone with at least 30 quarters of coverage may buy into Part A at a reduced monthly premium rate, which will be $278 in 2024, the same amount as 2023. Certain uninsured aged individuals who have less than 30 quarters of coverage and certain individuals with disabilities who have exhausted other entitlement will pay the full premium, which will be $505 a month in 2024, a $1 decrease from 2023.
For more information on the 2024 Medicare Parts A and B premiums and deductibles (CMS-8083-N, CMS-8084-N, CMS-8085-N), please visit https://www.federalregister.gov/public-inspection.
This article came directly from CMS https://www.cms.gov/newsroom/fact-sheets/2024-medicare-parts-b-premiums-and-deductibles
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