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Medicare Part B is the second part of Original Medicare and covers outpatient hospital services. Enrolling in Part B allows you to get other forms of Medicare coverage as well, giving you the chance to take your savings even further.
Part B covers a broad spectrum of outpatient treatments and services. It covers:
It offers this coverage based on what it deems to be medically necessary. While dental, vision, and hearing services can be considered forms of outpatient treatment, they are not included in Medicare Part B’s coverage.
When you first join Part B, you qualify for a Welcome to Medicare visit that you can get for free within the first 12 months. It is an assessment that will help your medical providers devise a treatment strategy for you. It’s non-invasive and is primarily informative.
Its coverage begins once you meet the annual $203 deductible. After that, you will pay for just 20% of the medical costs in coinsurance.
It works like this:
You’ll also make a copayment when you visit. The amount is decided ahead of time.
Premiums are typically subject to change from year to year, but the amount is $148.50 per month as of 2021. Your monthly costs may be lower if you are enrolled in a program such as a Medicare Savings Program, in which you can get help with paying for Part B premiums.
When you sign up for Part B, other types of coverage become available to you. Many other types of Medicare coverage require you to be enrolled in Part A and Part B (a combination known as Original Medicare) first.
With Part B, you can get policies such as Medicare Advantage, which extend your coverage and bundle other coverage types into one plan. You may also enroll in a Medicare Supplement plan, which can help take care of your out-of-pocket coinsurance costs.
At Health Care Solutions, Part B is one of the many policies we will help you learn more about! We’re fully devoted to our profession, and we are dedicated to helping you find the plan that fits you best. Give us a call today to learn more about Part B!