Later this fall CMS (Centers for Medicare & Medicaid Services) will be announcing the Medicare Part B Premiums for next year (2025). We will be reporting on this in detail in the January Voice that will be out in early December.
In the meantime, reliable sources project that the Part B premium will increase. As estimated, Medicare beneficiaries would see a projected 5.9% increase in their standard premium for 2025, moving from $174.70 this year to an estimated $185 next year, per the report.
Certain projections extend beyond next year. They report that after a smaller projected increase to $186.90 in 2026, the estimated rate rises more than $100 over the next seven years, to $299.80 in 2033.
For higher-income Medicare retirees, subject to IRMAA (IncomeRelated Monthly Adjustment Amount), the income levels for 2025 in that bracket will rise depending on inflation, but those in the bracket that year (based on 2023 income levels) will pay an additional $74 a month (estimated) on top of their estimated $185 standard premium, for a $259 monthly total.
Remember these are just projections with CMS announcing the 2025 Part B premiums later this fall. Again, stay tuned for a complete breakdown in the January Voice.