Medicare Part A Part A monthly premium Most people don’t pay a Part A premium because they paid Medicare taxes while working. If you don’t get premium-free Part A, you pay up to $505 each month. If you don’t buy Part A when you’re first eligible for Medicare (usually when you turn 65), you might pay a penalty. Hospital stay In 2024, you pay $1,632 deductible per benefit period $0 for the first 60 days of each benefit period $408 per day for days 61–90 of each benefit period $816 per “lifetime reserve day” after day 90 of each benefit period (up to a maximum of 60 days over your lifetime)   Skilled Nursing Facility stay In 2024, you pay $0 for the first 20 days of each benefit period $204 per day for days 21–100 of each benefit period All costs for each day after day 100 of the benefit period   Medicare Part B Part B monthly premium Most people pay the standard Part B monthly premium amount ($174.70 in 2024). Social Security will tell you the exact amount you’ll pay for Part B in 2024. You pay the standard premium amount if: You enroll in Part B for the first time this year. You don’t get Social Security benefits. You’re directly billed for your Part B premiums. You have Medicare and Medicaid, and Medicaid pays your premiums. (Your state will pay the standard premium amount of $174.70 in 2024.)   Part B premiums also can be higher if you don’t enroll when you’re first eligible. As with Part A, you will pay an annual deductible for Part B which is $233 for 2022. Some covered services require that you pay a percentage of the charges or a co-payment amount approved by Medicare. If you are already receiving Social Security benefits, payment for your Part B coverage is deducted directly from your Social Security checks. If you’re not yet collecting benefits, Social Security will send you a quarterly bill. Medicare Premiums: Rate Chart For Higher-Income Beneficiaries Medicare Income-Related Monthly Adjustment Amount-Life-Changing Event