Medicare provides health coverage to millions of older Americans. But the costs seniors incur under Medicare can easily change from one year to the next.

In 2024, the standard Medicare Part B premium is rising from $164.90 to $174.70. That's an increase of $9.80. The annual Medicare Part B deductible is also rising from $226 to $240.

In addition, coverage under Medicare Part A is getting more expensive. Though most Medicare enrollees don't pay a Part A premium, seniors pay on a per-hospital-stay basis.

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Source Fool.com