Medicare Part B Explained

Medicare Part B takes care of outpatient medical treatment.

These days most illnesses and injuries are treated on an outpatient basis rather than having you be admitted to a hospital. Your Medicare Part B medical insurance helps pay for treatments not covered by Part A.

80% of your expenses are covered after you pay a modest deductible.

With Medicare Part B, you’ll pay just 20% the costs for things like x-rays, laboratory and diagnostic tests, influenza and pneumonia vaccinations, blood transfusions, renal dialysis, outpatient hospital procedures, limited ambulance transportation, and some medications if it they are given to you by your doctor during an office visit. It also covers equipment like canes, walkers, wheelchairs and mobility scooters as well as artificial limbs and breast prosthesis plus one pair of eyeglasses following cataract surgery and oxygen you use in your home.

Sign up as soon as you are eligible or you may have to pay a penalty.

You don’t have to get Part B if you or your spouse are still working and have group health insurance. If you don’t meet that requirement, there’s a 10% per year lifetime Medicare Part B Late Enrollment Penalty for not enrolling as soon as you’re eligible.  However if you did delay getting Part B, but meet special conditions you may be able to sign up during a Special Enrollment Period and avoid the penalty. If you have questions or want to sign up for Part B, request a quote today.