Summary of Medicare Benefits and Cost-Sharing for 2024

The chart below is a comprehensive list of Medicare Part A and B costs, including premiums, deductibles and coinsurance. Medicare supplemental insurance, known as Medigap, can help cover some of the gaps in coverage and pay for part or all of Medicare’s coinsurance and deductibles, depending on the policy. Some Medicare Advantage (MA) plans may also help cover these costs. See Medigap: Medicare Supplemental Insurance and Medicare Advantage for more information.

Comprehensive Part A (Hospital Insurance) Costs

Part A – Hospital Insurance Premiums, Deductibles & Coinsurance

If You HaveIn 2024, You Will Pay a Monthly Premium of
0-29 quarters of Social Security credits$505
30–39 quarters of Social Security credits$278
40 or more quarters of Social Security credits$0
Inpatient Hospital Deductible$1,632
Inpatient Hospital Coinsurance$408 per day for days 61–90
$816 per day for days 91-150
Skilled Nursing Facility Coinsurance$204 per day for days 21-100
Service ProvidedMedicare PaysYou Pay
Hospital Inpatient
Days 1-60100% after deductible$1,632 deductible
Days 61-90100% after copayment$408 per day copayment
60 Reserve Days1100% after copayment$816 per day copayment
After 150 Days0%100% for each day
Psychiatric HospitalSame as hospital inpatient (see above) with a 190-day lifetime limit100% after 190 days
Skilled Nursing Facility (SNF)
(if daily skilled care is needed after a 3-day hospital stay)
Days 1-20100%0%
Days 21-100100% after copayment$204 per day copayment
After 100 Days0%100%
Home Health Care100% minus 20% of covered medical equipment20% of Medicare-approved amount for medical equipment
Hospice Care100% minus $5 per prescription; 95% of Medicare-approved payment for respite care per dayCopayment of $5 per prescription; 5% of Medicare-approved payment for respite care per day, not to exceed $1,632
Blood (received during hospital or SNF stay)100% after first 3 pints of bloodFirst 3 pints of blood each year
1 Each of the 60 reserve days may be used only once during an individual’s lifetime.

Comprehensive Part B (Medical Insurance) Costs

Your Annual IncomeYour Monthly Premium For 2024
  • Single: up to $103,000
  • Couple: up to $206,000
  • Single: $103,001 to $129,000
  • Couple: $206,001 to $258,000
  • Single: $129,001 to $161,000
  • Couple: $258,001 to $322,000
  • Single: $161,001 to $193,000
  • Couple: $322,001 to $386,000
  • Single: $193,001 and over
  • Couple: $386,001 and over
*As of 2023, certain Medicare enrollees who are 36 months post kidney transplant, and therefore no longer eligible for full Medicare coverage, can elect to continue Part B coverage of immunosuppressive drugs by paying a monthly premium ($103 in 2024). People with higher incomes pay higher premiums.
ServiceMedicare PaysYou Pay
Annual Deductible $240/yr.2
Physician Costs80% of approved amount20% of Medicare-approved amount, plus up to an additional 15% of the approved amount if the doctor or supplier does not accept assignment
Outpatient Hospital Care80% of approved amount$1,632 maximum
Clinical Lab ServicesApproved amount$0
Medical Equipment/Supplies80% of approved amountAll other costs
Certain Preventive Services (depending on the service, some are covered at certain intervals, such as once per year)80% or 100%20% of approved amount or $0, depending on the service
Mental Health Services
Partial Hospitalization
Days 1-60: 100% after deductible
Days 61-90: 100% after copayment
60 Reserve Days1: 100% after copayment
After 150 Days: 0%
Days 1-60: $1,632 deductible
Days 61-90: $408 per day copayment
60 Reserve Days: $816 per day copayment
After 150 Days: 100% for each day
Outpatient80% of approved amount20% of approved amount
2 Beneficiaries in Medicare Advantage plans do not pay the Part B annual deductible. Medigap Plans C and F include the Part B annual deductible as a benefit.