Medicare Part B Premiums To Increase by Nearly $10 Per Month in 2024

Medicare Part B monthly premiums increasing by nearly $10 to $174.70 for 2024.

Increase largely due to projected growth in healthcare spending and payments to hospitals serving disadvantaged patients.

Part B deductible also rising by $14 to $240 in 2024.

Higher premiums mean Social Security recipients will see monthly benefits go up about $50 on average next year.

Monthly premiums dropped in 2022 but are now increasing again for 2024 after changes in Alzheimer's drug coverage.