The Centers for Medicare & Medicaid Services (CMS) says that Part B premiums will go up by about 6% in 2025. This means that seniors who are involved in the program will have to pay more for it.
Part B covers many things, like going to the doctor, outpatient care, preventative care like shots, and medical supplies.
CMS told people about this rise on October 8, 2024.
The usual monthly premium for Part B will go up from $174.70 in 2024 to $185.00 in January. This will add an extra $10.30 to seniors’ monthly costs.
The annual Part B fee will also go up, from $240 to $257.
CMS says these price hikes are because of “projected price changes and assumed utilization increases that are consistent with what has happened in the past.”
The agency says these changes are needed to keep up with rising demand and prices for medical care.
The 2023 rate, on the other hand, dropped by over $5 from the previous year, which CMS said was an unusual but temporary drop.
People who are already getting Social Security will have the new Part B premium taken out of their income starting in January.
People who are enrolled in Medicare Part B but not yet getting Social Security payments will have to make sure they pay the new premium on their own.
Part B rates are going up, but Part A premiums are still free for almost all beneficiaries because they paid payroll taxes while they were working. Part A covers hospital stays and other inpatient services.
About 1% of people who are signed up pay a Part A fee.
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