Medicare Part B (medical insurance) is the part of Original Medicare that covers medical services and supplies that are necessary to treat a health condition.
Part B coverage can include
Some of the preventative services Part B covers include
Anybody who is eligible for premium-free Part A is eligible for Part B by enrolling and paying a monthly fee, called a premium. If you’re not eligible for premium-free Part A, you can qualify for Part B if you are age 65+ and a U.S. citizen or a permanent resident for at least 5 continuous years.
You may also be eligible for automatic Part B enrollment through disability. If you’re under 65 and have end-stage renal disease (ESRD) or amyotrophic lateral sclerosis (ALS or Lou Gehrig’s disease), you may also be eligible for Part B.
Part B does come with a price tag. Most people will pay the standard premium of $174.70 per month in 2024, and if you spend $240 you will meet the annual Medicare Part B deductible of $240. After this deductible is met, you only need to pay around 20% of the Medicare-Approved Amount for a majority of doctor services, outpatient therapy, and durable medical equipment.
It depends. If you are getting retirement benefits before 65 or qualify for Medicare through disability, you’re typically automatically enrolled in Medicare Parts A and B once you become eligible.
Most people should sign up when they’re first eligible, during the Initial Enrollment Period—the 7 months surrounding their 65th birthday.
If you’re not auto-enrolled, you can apply for Medicare through Social Security. You can do this in-person at a local office, online, or by calling 1-800-772-1213.
Some people decide not to sign up during their Initial Enrollment Period because they are currently covered under an employer group plan (either their own or through their spouse’s employer).
If you delay Part B enrollment because you already have current employer health insurance, you can sign up later—during a Special Enrollment Period—without paying a late fee.
Are you confused your Medicare options? You’re not alone, and we’re here to help!
The thing to remember is: for most people, Original Medicare is not enough. When you call us, we’ll set up a meeting to go over the Medigap enrollment process—the best time to apply is right after you enroll in Part B. Don’t wait, call 501-881-2050 today.
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