Medicare Part B covers outpatient medical services and plays a pivotal role in lowering your medical expenses. Here, we’ll provide a look into Part B eligibility, the services and treatments it covers, its costs, and how it coordinates with other health insurance policies.
How Can I Get Part B?
You’re eligible for Medicare Part B if you meet one of the following criteria:
- You’re at least 65 years old
- You’ve been receiving Social Security or Railroad Retirement Board (RRB) benefits for 24 months
- You’re under 65 and disabled
- You’ve been diagnosed with a condition such End-Stage Renal Disease (ESRD) or Amyotrophic Lateral Sclerosis (ALS)
If you qualify based on age, your chance to join begins during the Initial Enrollment Period, which lasts from three months prior to your 65th birthday to three months after. If you don’t sign up, you’ll have to join during the General Enrollment Period, which is from January 1 to March 31 each year.
For those who qualify for reasons aside from age:
- Receiving Social Security or RRB benefits for at least 24 months but aren’t disabled – automatically enrolled on the first day of the month you turn 65
- Receiving disability benefits – automatically enrolled after receiving benefits for 24 months
- Diagnosed with ALS – coverage begins the month your Social Security benefits start
- Diagnosed with ESRD – you’ll need to sign up, but being 65 is not a requirement
What Does Part B Cover?
Part B covers:
- Preventive care
- Routine appointments
- Mental health services
- Durable Medical Equipment (DME)
- Ambulance services
During your first 12 months of having Part B, you get a complimentary Welcome to Medicare visit. This visit consists of screenings and assessments, as well as a mental health evaluation.
What Are The Costs For Part B?
Part B’s costs include:
- Premiums – $164.90 per month (more for individuals who earn more than $97,000 a year and married couples earning over $194,000)
- Deductibles – $226 per year
- Copayments – Varies
- Coinsurance – Part B covers 80%; you pay 20% of the Medicare-approved amount
How Does Part B Work With Other Insurance?
Medicare Part B coordinates with other coverage. One policy will cover what it can, and once that coverage is exhausted, the other policy covers what it can of the remaining costs. The plan that pays first will depend on the type of other insurance you have.
Medicare Supplement Plans (Medigap) can help lower your out-of-pocket costs by covering what remains after Part B has paid its share.
For More Information On Part B
JA Agency gives you the best choices available when it comes to Medicare. We’ll help you get Medicare Part B, plus any other policy you need, all for the lowest cost. We’re always ready to help. Call us today at (551) 795-1229.