Average cost of Medicare Part A
If you or your spouse worked and paid Medicare taxes for the equivalent of 10 years (40 quarters), you qualify for premium-free Medicare Part A.
If you paid Medicare taxes for only 30-39 quarters, your 2024 Part A premium will be $278 per month. If you paid Medicare taxes for fewer than 30 quarters, your premium will be $505 per month.
Average cost of Medicare part B
The standard monthly premium for Medicare Part B is $174.70 per month in 2024.
Some Medicare beneficiaries may pay more or less per month for their Part B coverage. The Part B premium is based on your reported income from two years ago (2022).
Average cost of Medicare Part C
In 2024, the nationwide average monthly premium for a Medicare Part C (Medicare Advantage) plan is $13.24 per month.1
Average cost of Medicare Part D
The average 2024 Part D plan premium is $18.50 per month.2
Medicare Supplement (Medigap) Costs
In 2023, the average Medicare Supplement (also called Medigap) plan premium was $130.58 per month.3 But the average cost of each type of Medigap plan can vary quite a bit from one plan type to another.
The average premium a Medicare Supplement Insurance (also called Medigap) plan can vary based on factors such as where you live, your age, your health status and more.
1 TZ Insurance Solutions analysis of data provided by the Centers for Medicare & Medicaid Services (CMS), including the 2024 MA Landscape Source Files as well as carrier-provided plan data provided by Sun Fire Inc.
2 CMS. (Sep 26, 2023). Medicare Advantage and Medicare Prescription Drug Programs to Remain Stable in 2024. www.cms.gov/newsroom/press-releases/medicare-advantage-and-medicare-prescription-drug-programs-remain-stable-2024.
3 Internal sales data provided by TZ Insurance Solutions LLC, 2023. This data is based on the Medicare Supplement Insurance policies TZ Insurance Solutions LLC has sold. It is not a comprehensive national average of all available Medicare Supplement Insurance plan premiums.