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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.

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

The Medicare-Approved Amount Explained

The Medicare-approved amount is the amount of money that Medicare will pay a health care provider for a medical service or item. After you meet your Medicare Part B deductible ( $240 per year...
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Medicare Advantage Plans: An Alternative to Original Medicare

If you want to find a plan with benefits that aren’t offered by Original Medicare (Medicare Part A and Part B), there are alternative options you can consider. One popular option you might consi...
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Medicare Medical Savings Accounts (MSA): What To Know

One type of Medicare Advantage plan is called a Medicare Medical Savings Account (MSA) . These plans combine a high-deductible Medicare Advantage plan with a savings account to offer a unique way...
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How Are Your Medicare Costs Calculated?

If you are a high-income earner, you could potentially pay higher premiums for Medicare Part B (medical insurance) and Medicare prescription drug coverage. But how are these Medicare costs calcu...
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How You Can Get Help Paying Medicare Premiums

Medicare costs can add up. In addition to out-of-pocket costs like deductibles and coinsurance, there are also Medicare premiums that must be paid to maintain coverage. In this guide, we detail...
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17 Health Care Costs You May Be Able to Deduct From Your Taxes

As tax season approaches each year, it’s time to gather up your tax documents, crunch the numbers and hope for the best. For many older Americans, it also means utilizing some key health care-r...
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The Average Cost of Medicare in Every State

Original Medicare (Part A and Part B) has standardized 2023 deductibles and premiums that are the same in every state. But the average cost of Medicare Advantage plans (Part C) and Medicare...
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The Average Cost of Medicare Plans Per Month in 2024

How much will Medicare cost in 2024? It's a simple question with a complex set of answers. This guide details the average costs of each part of Medicare in 2024. For more information on a partic...
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What Is the Average Cost of Medicare Part D Plans in Each State?

Medicare Part D provides coverage for prescription medications. The average Part D plan premium in 2024 is $59.23 per month. 1 Because Original Medicare (Part A and Part B) does not cover retai...
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What Is the Average Cost of Medicare Supplement Insurance?

The average cost of a Medicare Supplement Insurance plan is $139 per month in 2023. 1 But the average cost of each type of Medigap plan can vary quite a bit from one plan type to another. Fac...
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