Medicare Part B Coverage Details
Medically Necessary services- If you have a condition that requires acceptable standards of medical practice, services and supplies would be covered.
Preventative Services - Healthcare services to prevent illness or conditions or detect it at an early stage when treatment is most likely to work best.
Find out more details about Medicare Part B
-
Ask your doctor.
-
Visit our in-depth post: What is Medicare Part B?
-
Go to Medicare.gov and search.
How much does Part B Cost?
You pay a premium each month for Part B. If you get Social Security, Railroad Retirement Board, or Office of Personnel Management benefits, your Part B premium will be automatically deducted from your benefit payment. If you don’t get these benefit payments, you’ll get a bill.
Usually you will pay the standard premium amount, however if your adjusted gross income is higher than a certain amount, you may pay an increased amount. Medicare uses the most recent tax return information provided to Social Security, to determine this.
If you pay your Part B premium through your Social Security benefit, you’ll pay $109 on average. The standard Part B premium amount in 2017 is $134 or higher depending on your income, but most people pay less. Social Security will tell you the exact amount you'll pay for Part B. You'll pay the standard premium amount (or higher) if:
-
You don't get Social Security benefits.
-
You're directly billed for Part B premiums.
-
You enroll in Part B for the first time in 2017
-
Medicaid pays your premiums. (Your state will pay the standard premium amount of $134.)
-
Your modified adjusted gross income as reported on your IRS tax return is above a certain amount. If so, you’ll pay the standard premium amount and an Income Related Monthly Adjustment Amount (IRMAA).
-
You or your spouse had Medicare-covered employment through the government.
Deductible & Coinsurance:
You'll pay $183 per year for your Part B deductible. After your deductible is met, you typically pay 20% of the Medicare-approved amount for most services and supplies.
For more information on cost, you can visit the Medicare.gov Part B Cost page.
Continue Learning
Medicare Supplement plan Buying Checklist
Keep it easy with our checklist for making a Medicare Supplement Purchase.
