Medicare Part B

Medicare Part B covers your physician services, both in and out of the hospital. It covers medically necessary services and supplies needed to diagnose or treat a medical issue. Part B also covers preventative services. 

What Does Medicare Part B Cover?

Medicare Part B covers the services performed by a doctor, both in and out of the hospital. This may include:

  • Doctor visits
  • Lab tests including blood tests
  • Surgery
  • Diagnostic imaging
  • Medical treatments for cancer, such as chemotherapy or radiation
  • Kidney treatment, such as dialysis
  • Medical equipment and supplies
  • Mammograms
  • Colonoscopies
  • Flu shots
  • Ambulance rides
  • Some outpatient drugs that a doctor or nurse administer
  • Mental health services both inpatient and outpatient

Is Medicare Part B Required?

Medicare Part B is optional; however, if you don’t enroll when you’re first eligible, you may pay late penalties. 

If you already receive Social Security benefits and are 65-years old, you’ll be automatically enrolled in Medicare Part A and Part B. If you are 65-years old, but aren’t receiving Social Security benefits yet, you must sign up for Medicare Part A and Part B. If you are younger than 65-years old but have a disability and have received Social Security benefits for at least 24 months, you’re eligible for Medicare Part B.

How Much Does Medicare Part B Cost?

Most people pay a premium for Medicare Part B. If you receive Social Security benefits, it gets deducted from your benefit. 

If you don’t receive Social Security yet, you must mail in your payment. Some people get Medicare Part B for free, but if your modified adjusted gross income is over the threshold, you’ll pay a premium based on your income.

Medicare Part B Deductibles and Coinsurance

Medicare Part B has an annual deductible and a co-pay. Once you reach the deductible, you’ll pay the copay or a portion of the cost of your covered medical services. This includes doctor visits, outpatient therapy, and the use of medical equipment. 

Any costs Medicare B doesn’t cover are your responsibility, and there’s no limit to the 20% co-pay that you’ll owe for medical services. 

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Do you Need Medicare Part B if you Have Other Insurance?

Medicare charges a late enrollment fee/penalty if you don’t sign up for Medicare Part A and B when you’re first eligible. However, if you have credible employer coverage from a large employer, you can avoid the fee. 

Get Help Understanding Medicare Part B

If you need help understanding Medicare Part B or any other part of Medicare, let us help. We have many years of experience helping individuals understand their Medicare benefits and how to make the most of them. Contact us at 1-800-327-7888.