Medicare Part B

You pay a premium each month for Part B. Your Part B premium will be automatically deducted from your benefit payment if you receive benefits from one of these:

• Social Security

• Railroad Retirement Board

• Office of Personnel Management

If you don’t receive these benefit payments, you will receive a bill.

The standard Part B premium amount in 2024 is $174.70. Most people 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

The Part B deductible is $240 before Original Medicare starts to pay.

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