What Will 2024 Part B Premiums Cost? Here’s What We KNOW! 😳

Join Marvin Musick from Medicare School and get ready for an exclusive sneak peek into the future of Medicare 2024!

Marvin unveils the mysteries behind Part B premiums and how recent events, like the groundbreaking Alzheimer's medication approval, could impact your Medicare costs. Plus, be the first to know about cost-of-living adjustments in Social Security checks and their role in balancing potential premium increases.

Whether you're a current Medicare recipient or planning for your future healthcare needs, this video offers essential information to help you make informed decisions about your Medicare coverage.

Click play now and empower yourself with valuable knowledge for a healthier and financially secure future!

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[djensen]

Yes, the 3% COLA will cover the Part B increase, but the fact remains that the Part B increase of over 9%, along with the actual increase in cost of everyday living, leaves us further behind financially. The sad trend continues.

[turbowarp]

Most things I buy went up closer to 20-30%, last year and we got an 8.7% COLA... most things I buy, didn't increase as much as last year, but certainly more than 3%. Just like skyrocketing property taxes causing seniors to lose their homes, increases in Medicare costs cause seniors to lose healthcare coverage or choice to eat hotdogs.

[dsmj]

Wasn't the big jump due to general inflation as much as the specific drug? My groceries and rent have gone through the roof the past couple of years.

[aceheckathorn]

I have learned so much in the past year from watching you and your son, Marvin. I really love these lessons. On behalf of all of us Medicare newbies, we thank you for taking the time to do these :)

[RJMEL]

So using your numbers, the 3% becomes 2.18%. So Seniors get screwed again since 27.78% of the entire increase goes solely to paying for this increase in Part B premium, not to mention this Alzheimer’s drug is likely priced 1000% of its cost to develop and manufacture. And how about those people whose SSA is much less than the $1800 average you quoted?

[littleone]

My question in 2022 we were charged $ 21.60, but they ONLY RETURN $ 5.20 POCKETING $ 17.40 .
And now they want to Increase it again by another $ 15.00 ??? How in the world can somebody afford to pay that on a fixed income???
There Should be NO IINCREASE, We've been paying for that since 2022

[arthurshingler]

Personally I'm skeptical about this.... I think they really wanted that $5 back from this year's Part B reduction....!

[lisaholt-adamec]

Why would Medicare go up because a drug introduction, instead of part D, which covers drugs?

[bredbornraisedhawaii]

Thank you for all the info you give out to so many people! This truly helps me understand more so that i can help my father with his medical!

[timpotter]

Marvin can you talk about air ambulance and how much will be covered by Medicare? Thanks,

[sandybalthis]

Why do the people who dont use new drug, have to pay for something they wont be using

[roberta]

Since they raised it so much in 2022 and didn't acutally need that much, they should NOT be able to raise it so much in 2024! Crooks!

[rogersiples]

A lot of guesswork involved. They guessed wrong in 2022 and tried to make it up in 2023. Now they're guessing again about a drug with questionable results that most of the medical industry won't use, but we have to pay for it anyway, just like in 2022.

[joannac]

Too bad they don’t include Food, Lodging and Energy.

[davenone]

The cost of goods and services does not include fuel and housing. How can those not be included?

[MrTargetone]

Can you dedicate a video on “high deductible” G supplement plan? I just learned about it and understand the premiums are significantly lower.

[nysavvy]

This man is younger but resembles Robert Redford.

[ritaneedham]

I coordinate a Medicare Guidance Ministry for my church and continue to learn more and better understand the intricacies of how Medicare works. Thank you for your educational videos. I've been watching them for the last 3 years.

[nala]

If you receive the average of $1650/month..
multiply that number by 0.032 = $52.68.. or.. if
you live in reality and get $800/month then the
same formula = $25.60 .. then in either case, the
projected Medicare increase will be 6% - 8% .. using the same methodology and the 2023
Medicare cost is $178.90/month .. so then take your base increase and deduct the $14.32
Medicare increase . which in the real world is equal to 27+% of your increase at the Government average.. or „ at the real world lower number, it is 55+% of your increase.. Or .. 11.4% of the government average monthly benefit.. or..
23.7+% of the lower real world average monthly benefit.. Ending in the Government getting in excess of 25% of your benefits at either level before taxes, but will tax you on the entire benefit amount !

[Nemo-ynsp]

My AARP Supplement premium and the new Medicare premium will be almost the same, difference of about $1. My social security covers just a little more than health care premiums and necessary supplements every month. Better than nothing.