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Medicare Part B

What is Part B Medicare?

Part B Medicare, also known as Medical Insurance, covers a variety of outpatient services, including doctor visits, preventive services, diagnostic tests, outpatient hospital care, and some home health services. It also includes coverage for durable medical equipment like wheelchairs and oxygen. Unlike Part A, Part B requires a monthly premium, which varies based on income. Beneficiaries typically pay a deductible and then 20% coinsurance for most services after the deductible is met. Part B is essential for managing ongoing healthcare needs and accessing preventive care, helping seniors and individuals with disabilities maintain their health outside of hospital settings.

What am I responsible to pay with Part B?

For Part B Medicare, the costs include:

1. Deductible: In 2025, the annual deductible for Part B is $257. You must pay this amount out of pocket before Medicare starts to cover your services.
2. Coinsurance: After meeting the deductible, you typically pay 20% of the Medicare-approved amount for most covered services, such as doctor visits and outpatient care. There is no copay; instead, you pay the coinsurance amount for each service.
3. Premium: Beneficiaries also pay a monthly premium for Part B, which can vary based on income. For most people, the standard premium in 2025 is $185.00.

These costs can vary, so it's essential to review your specific coverage and any potential additional charges for certain services.

As with Part A you can cover most of your costs with a Supplement or Advantage plan. Combined, these costs could equal thousands of dollars; impacting your retirement!