Seniors will have to pay more again for Medicare Part B next year, according to the Centers for Medicare and Medicaid Services (CMS).
The standard monthly premium for Medicare Part B enrollees will rise by $10.30 to $185.00 in 2025 from $174.70 this year, CMS said late Friday. The premium was $164.90 in 2023. The annual deductible for all Medicare Part B beneficiaries will increase to $257 from $240 in 2024. The increases are mainly due to projected costs and usage increases, CMS said.
The jump in the 2025 Medicare Part B premium outpaces both inflation and the Social Security cost-of-living adjustment (COLA). Annual inflation rose 3.2% in October and COLA for 2025 will be 2.5%, or an average of $50 more per month.
“When Part B premiums grow at a faster rate than Social Security COLAS, premium costs consume a growing portion of monthly Social Security checks,” said Mary Johnson, an independent Social Security and Medicare policy analyst who at age 73, also receives those benefits.
How much more will high-income Americans pay?
Since a beneficiary’s Part B monthly premium is based on income, high-income Americans also pay an Income-Related Monthly Adjustment Amount, or IRMAA. IRMAA affects roughly 8% of people with Medicare Part B, CMS said.
Capitalize on high interest rates: Best current CD rates
“While mostSocial Security recipients aged 65 and older will have benefits high enough to cover the $10.30 per month increase of Part B premiums from $174.70 to $185.00, the same…
