According to multiple sources, the standard monthly premium for Medicare Part B enrollees will be $174.70 for 2024, which is an increase of $9.80 from $164.90 in 2023. The annual deductible for all Medicare Part B beneficiaries will be $240 in 2024, which is $14 more than the 2023 deductible of $226. The Medicare Part A inpatient hospital deductible that beneficiaries pay if admitted to the hospital will be $1,632 in 2024, which is an increase of $32 from $1,600 in 2023. The Part A inpatient hospital deductible covers beneficiaries’ share of costs for the first 60 days of Medicare-covered inpatient hospital care in a benefit period. The monthly premium for Medicare Part D, which covers drug costs, is projected to decrease from $56.49 in 2023 to $55.50 in 2024. However, seniors with high drug costs may run into a coverage gap, although it has been shrinking.