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Medicare Premium Increases: What to Expect for 2024
Manage episode 382320478 series 3474130
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The Centers for Medicare & Medicaid Services (CMS) has announced that Medicare premiums are expected to increase in 2024.
In episode 14 of Complications: Health Policy Unraveled, host Stephanie Kennan breaks down all the expected Medicare premium increases and what’s behind these rate hikes. Because the Supreme Court held that cuts to drug reimbursements to 340B Hospitals are unlawful, CMS now plans to repay the $9 billion to these hospitals, raising premium rates. The increases can also be attributed to expected expansions in access to Alzheimer’s care. Tune in to this episode to learn how your insurance premiums may be affected.
Meet Your Host
Name: Stephanie Kennan
Title: Senior Vice President, Federal Public Affairs at McGuireWoods Consulting
Specialty: Stephanie Kennan helps clients navigate the legislative and executive branches of the federal government to solve problems involving a variety of healthcare policy issues. Her work focuses on providers, medical device manufacturers, drug manufacturers and associations concerned about Medicare and Medicaid reimbursement.
Connect: LinkedIn
Episode Highlights
[0:33] CMS announces that Medicare premiums are expected to increase in 2024.
[0:57] Increases to Medicare Part B standard monthly premiums and annual deductibles
[2:54] Projected costs for Medicare Part B are still quite uncertain.
[3:46] Medicare Part A inpatient hospital deductions are also increasing, including a $32 increase in the deductible for the first 60 days of coverage.
[4:13] The per day costs of lifetime reserve days is up to $816 in 2024, and the daily co-insurance for extended care services have also gone up.
Contact
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