Medicare Part B is part of Original Medicare. While Part A covers inpatient hospital care, Part B handles doctor visits and preventive care. Although Part B Medicare is optional, many people are enrolled automatically and must opt out of Part B if they don’t want it.  

What does Medicare Part B cover? 

Medicare Part B, also called Medical Insurance, covers many healthcare needs. Some of the most common services include: 

  • Preventive care: Preventive care can include vaccines, screenings, counseling, a yearly wellness exam, nutritional therapy, and diabetes self-management training. 
  • Medically necessary services can include x-rays, certain medications, or lab tests. 
  • Medical equipment: Part B covers many durable medical equipment items, like wheelchairs, walkers, traction equipment, or blood sugar monitors
  • Ambulance services: Part B covers medically necessary ground ambulance services to the hospital or skilled nursing facility and sometimes non-emergency ambulance services
  • Mental health services: Part B covers inpatient, outpatient, and hospitalization care for mental health services
  • Some prescription medications: Some medications prepared by a doctor or used with medical equipment are covered. However, Part B doesn’t cover most prescriptions from a pharmacy. 

What does Medicare Part B NOT cover? 

Medicare Part B doesn’t cover any care not considered medically necessary or preventive. It also doesn’t cover most hospitalization services once admitted since Part A covers that care. Part B won’t cover vision, hearing, routine foot care, dental, or most prescription drugs. 

How much is Medicare Part B? 

You can receive some services and preventive care at no cost under Part B. Usually, Part B will cover 80 percent of the cost, and you pay the remaining 20 percent. In addition, you’ll pay a monthly premium for Part B Medicare. You’re also responsible for paying a yearly deductible.  

Medicare Part B premium 2024 

In 2024, the standard premium is $174.70 per month for people earning a gross income equal to or less than $103,000. Part B participants in higher tax brackets pay more depending on their gross income, up to $594.00.  

In 2024, the standard premium is $174.70 per month for people earning a gross income equal to or less than $103,000.

Some people qualify for financial assistance from one of the Medicare Savings Programs based on income.  

Medicare Part B deductible 2024 

In 2024, the annual deductible for Part B care increased to $240. After you meet this deductible, Part B will cover 80 percent of the costs. 

Medicare Part B eligibility 

You can enroll for Part B Medicare within three months of your 65th birthday and up to three months after. If you’re receiving Social Security benefits for a disability or have a qualifying diagnosis, you can enroll in Medicare Part B before you turn 65.  

Medicare Part B enrollment: when are you enrolled automatically and when not? 

If you’re receiving your Social Security benefits, you’ll be enrolled automatically. You’ll receive an enrollment card and information shortly before your 65th birthday. If you’re not yet receiving Social Security, you must sign up for the Medicare Part B during the Initial Enrollment Period (IEP) from three months before to three months after your 65th birthday. 

How to apply for Medicare Part B if you’re not enrolled automatically? 

Medicare Part B penalty 

If you miss your Initial Enrollment Period (IEP), you must wait for the General Enrollment Period between January 1 and March 31. You can also make changes during the Annual Enrollment Period between October 15 and December 7 and a Special Enrollment Period if transitioning from employer-sponsored healthcare coverage.  

However, you can be permanently penalized if you miss your Initial Enrollment Period and do not have a Special Enrollment Period. The late enrollment penalty is added to your monthly premium and is a lifetime penalty. The longer you wait, the higher the penalty can go. 

Difference between Part A and Part B Medicare 

Part A and Part B Medicare work together to cover many healthcare situations. Medicare Part A primarily covers hospital and inpatient care. Part B focuses more on outpatient care and preventive health services. 

FAQs 

Do you need Medicare Part B? 

Medicare Part B is optional, but if you delay and decide to enroll later, you could pay a lifelong penalty in addition to your monthly premium. You can also pay out-of-pocket for expenses not covered by Part A. 

Do I have to apply for Medicare Part B? 

It depends. If you have applied for Social Security retirement benefits, you’ll receive a Medicare Part B form. If you haven’t applied for retirement benefits by the time you are eligible for Medicare, you can apply for Part B. 

How long does it take to get Medicare Part B after applying? 

It can take 30-60 days to get Part B after you apply. 

Can I get Medicare Part B for free? 

Some lower-income individuals may qualify for a Medicare Savings Program covering part or all of their monthly premiums. But if your income is average or higher, you cannot get Part B for free.

Does Medicare Part B cover dental? 

No, you’ll need to purchase separate dental insurance or pay out-of-pocket. 

Does Medicare Part B cover prescriptions? 

It may cover certain prescriptions, such as medication you use with a medical device or prepared by your doctor, but it does not cover over-the-counter drugs.

Do I need Medicare Part B if I have other insurance? 

It depends on the type of insurance you have. If you’re currently receiving employer-sponsored health insurance with more than 20 employees, you may decide to delay enrollment and become eligible later during a Special Enrollment Period.  

How to cancel Medicare Part B? 

You can cancel your Part B, but you must have a personal interview with a Social Security representative and complete a form. 

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Article updated on November 18th, 2023.