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The standard monthly premium for Medicare Part B enrollees will be $185.00 for 2025, an increase of $10.30 from $174.70 in 2024. The annual deductible for all Medicare Part B beneficiaries will be $257 in 2025, an increase of $17 from the annual deductible of $240 in 2024.
How do you cancel Medicare Part B? Youll simply need to mail or fax a signed Form CMS-1763 (a request for termination of premium hospital insurance or supplementary medical insurance) to Social Security.
This form is your application for Medicare Part B (Medical Insurance).
Fill out Request for Termination of Premium Hospital Insurance of Supplementary Medical Insurance (Form CMS-1763) (PDF) and fax or mail it to your local Social Security office. You can cancel Part A only if you pay a premium for it. You can cancel Part B at any time.
To opt-out, you must: Submit an opt-out affidavit to Medicare. Enter into a private contract with each of your Medicare patients. This contract will reflect the agreement between you and your Medicare patients that they will pay for services out of pocket, and that nobody will submit the bill to Medicare for payment.
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This form is used for proof of group health care coverage based on current employment. This information is needed to process your Medicare enrollment application.
You can apply online or you can mail your completed CMS 40B, Application for Enrollment in Medicare - Part B (Medical Insurance) to your local Social Security office.

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