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By Staff Reporters

Medicare Part B and D are likely increasing in 2024

Due to a new Alzheimer’s treatment coming to the market (Leqembi, from pharmaceutical companies Eisai and Biogen), Medicare beneficiaries are expected to pick up the cost. Therefore, Medicare Part B prices are expected to increase in 2024. The costs are projected to go up from the current $164.90 to $174.80, a nearly $10 increase per month. 

CITE: https://www.r2library.com/Resource

While you may not see a huge difference in the amount you’re paying for Medicare Part D, it still could be slightly lower. The average total monthly Part D premium is projected to decrease from $56.49 in 2023 to $55.50 in 2024, according to the Centers for Medicare & Medicaid Services (CMS). That’s nearly $10 each month. 

CITE: https://www.r2library.com/Resource

MORE Citations:

1. Medicare.gov. (2022). Medicare & You 2023.
2. Medicare.gov. (2022). When does Medicare coverage start?
3. Kaiser Family Foundation. (2019, Aug 9). Data Note: Prescription Drugs and Older Adults.
4. Medicare.gov. (2022). How to get prescription drug coverage.

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Here is where the major benchmarks ended:

• The S&P 500 Index was down 54.78 points (1.2%) at 4,450.32, down 0.2% for the week; the Dow Jones Industrial Average (DJIA) was down 288.87 points (0.8%) at 34,618.24, up 0.1% for the week; the NASDAQ Composite was down 217.72 points (1.6%) at 13,708.33, down 0.4% for the week.
• The 10-year Treasury note yield (TNX) was up about 4 basis points at 4.332%.
• CBOE’s Volatility Index (VIX) was up 0.97 at 13.79.

Technology shares were among the market’s weakest performers Friday after Reuters reported Taiwan Semiconductor Manufacturing Co. (TSMC) had told its major suppliers to delay delivery of high-end chipmaking equipment because of concerns over demand.

The Philadelphia Semiconductor Index (SOX) sank more than 3% to a four-week low. Most market sectors were under pressure, including energy, despite crude oil futures extending a climb above $90 a barrel.

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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Drugs and Pharma, Financial Planning, Funding Basics, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Investing | Tagged: Alzheimer's disease, Biogen, CBOE, Centers for Medicare & Medicaid Services, CMS, DJIA, DOW, Eisai, fed, FOMC, inflation, Leqembi, medicare, Medicare B, Medicare D, NASDAQ, oil, Russell 2000, S&P 500, SOX, TSMC, VIX |