Social Security COLA may be increasing, but many Medicare costs are on the rise. Here is the breakdown (full article may be found here).

Medicare Part B

- Standard Part B Premium starting January 2024 is $174.70 (an increase of $9.80 from $164.90 in 2023).

- Part B Annual Deductible for 2024 will be $240 (an increase of $14 from $226 in 2023).

- For 2024, the standard Immunosuppressive Drug Premium is $103.00.

*Beginning in 2023, individuals whose full Medicare coverage ended 36 months after a kidney transplant and who do not have certain other types of insurance coverage can elect to continue Part B coverage of immunosuppressive drugs by paying a premium.

Medicare Part A

- If you paid Federal Insurance Contributions Act (FICA) taxes at least 10 years- NO PREMIUM!

- If you paid FICA less than 10 years, you could BUY Part A

* 30 to 39 Quarters paying FICA taxes, can pay a $278 Monthly Premium in 2024 to get Part A (same as 2023)

* Less than 30 Quarters paying FICA taxes, can pay a $505 Monthly Premium in 2024 to get Part A ($1 less than 2023)