How much is Medicare Part B going up in 2024?

Medicare, the U.S. federal health insurance program mainly serving individuals aged 65 and older, along with younger individuals with certain disabilities, undergoes annual adjustments in its premiums, deductibles, and coinsurance amounts. One of the most significant components of Medicare is Part B, which covers outpatient care, preventive services, ambulance services, and durable medical equipment. The annual changes in Medicare Part B costs are closely watched by beneficiaries and policymakers alike, as these adjustments directly impact the healthcare expenses of millions of Americans. For 2024, several factors have influenced the rise in Medicare Part B premiums, and understanding these factors is important for those planning their healthcare budgets