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What does Medicare part B include?

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Part B is your coverage for doctor visits, tests, and other services under Medicare.

You pay a monthly premium for Part B, which is pegged to your income. The higher your income, the higher your premiums. You’ll also need to meet your deductible – out-of-pocket spending – before Medicare starts paying for services. After that, you’ll have co-insurance costs of 20% of your medical bills.

Penalties: If you don't sign up for Part B when you first become eligible, you may have to pay a higher premium penalty if you did not have health insurance through an employer or union.

From: What Does Medicare Cost? WebMD Medical Reference

SOURCES:

USA Today: "Medicare Premiums to Remain Stable in 2014."

Centers for Medicare & Medicaid Services: "More Savings in the Drug Coverage Gap Coming Through 2020," "Get help with your Medicare Costs," "Medicare Savings Programs," "4 Programs That Can Help You Pay Your Medical Expenses," "Medicare and You," "Save on Drug Costs," "Part B Costs," "Medicare 2013: Costs at a Glance," "Costs for Medicare Drug Coverage," "How Medicare Advantage Plans Work," "What's Medicare Supplement (MediGap) Insurance?" "CMS Ensures Greater Value for People in Medicare Drug and Health Plans."

Department of Health and Human Services: "Eligibility."

Kaiser Family Foundation: "Filling the Financial Gaps in Medicare Coverage."

Medicare Rights Center: "Find Out If You Qualify," "Program Financial Eligibility Guidelines."

Michigan Department of Community Health: "Medicare Savings Program."

Minnesota Department of Human Services: "People who need help with Medicare costs."

Social Security Administration: "Understanding the Extra Help With Your Medicare Prescription Drug Plan," "Apply online for Extra Help with Medicare prescription drug costs," "Apply for Medicaid."

California Health Advocates: "An Overview: Prescription Drug Coverage."

Reviewed by Sarah Goodell on July 22, 2019

SOURCES:

USA Today: "Medicare Premiums to Remain Stable in 2014."

Centers for Medicare & Medicaid Services: "More Savings in the Drug Coverage Gap Coming Through 2020," "Get help with your Medicare Costs," "Medicare Savings Programs," "4 Programs That Can Help You Pay Your Medical Expenses," "Medicare and You," "Save on Drug Costs," "Part B Costs," "Medicare 2013: Costs at a Glance," "Costs for Medicare Drug Coverage," "How Medicare Advantage Plans Work," "What's Medicare Supplement (MediGap) Insurance?" "CMS Ensures Greater Value for People in Medicare Drug and Health Plans."

Department of Health and Human Services: "Eligibility."

Kaiser Family Foundation: "Filling the Financial Gaps in Medicare Coverage."

Medicare Rights Center: "Find Out If You Qualify," "Program Financial Eligibility Guidelines."

Michigan Department of Community Health: "Medicare Savings Program."

Minnesota Department of Human Services: "People who need help with Medicare costs."

Social Security Administration: "Understanding the Extra Help With Your Medicare Prescription Drug Plan," "Apply online for Extra Help with Medicare prescription drug costs," "Apply for Medicaid."

California Health Advocates: "An Overview: Prescription Drug Coverage."

Reviewed by Sarah Goodell on July 22, 2019

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What is Medigap, and how much does it cost compared to Medicare?

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