2024 Medicare Costs

Learn how 2024 Medicare changes could affect your coverage and costs. Review our 2024 Medicare Costs Overview or read the informational guides and articles below.

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

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 B

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 C (Medicare Advantage) by state and county

Average cost of Medicare Part D

The average 2024 Part D plan premium is $18.50 per month.2

Average cost of Medicare Part D

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.

Average cost of Medicare Supplement Plans

 

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.

Medicare Cost Articles

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