December 2, 2024

No Medicare surprises for 2025.

As expected, the standard monthly premium for Medicare Part B enrollees will be $185, up $10.30 from 2024. The annual deductible—the amount paid before insurance begins to pay for health services—will increase to $257, up $17.

Medicare monthly premium is based on income, so many of you pay more for coverage. For example, for individuals, if your income is greater than $200,000 and less than $500,000, your monthly premium would increase to $591.90. The rules are different for married couples.

Social Security’s cost of living adjustment (COLA) for 2025 was 2.5 percent, which means the average monthly benefit for retired workers will increase by $49 to $1,976. Put another way, 21 percent of your COLA is going to pay for the Medicare Part B premium.

Let us know if any of these numbers are making you feel anxious. Sometimes, all it takes is a little adjustment to make you feel a little more comfortable heading into 2025.

Reviewing your Medicare coverage is a key component of your overall financial plan. If you have questions or need assistance, Omni360 is here to support you.

1. CentersforMedicare&MedicaidServices.gov, November 8, 2024

2. This email is for informational purposes only and is not a replacement for real-life advice. Consult your tax, legal, and accounting professionals if you have questions about how your income can influence your Medicare payments.