What is Medicare Part B?
Medicare Part B was setup to provide outpatient medical insurance to U.S. citizens that qualify. You may enroll in Part B medical insurance three months prior and four months after your 65th birthday. There are also special enrollment periods for seniors covered by a group health plan offered by an employer or union.
Medicare Part B covers the following types of outpatient services:
- Doctors’ visits.
- Preventative services.
- Ambulatory services.
- outpatient physical, speech, and occupational therapy.
- Chiropractic care.
- Home health services.
- X-rays and lab tests
- Durable medical equipment*
For those already receiving benefits from Social Security or the Railroad Retirement Board, you will be enrolled automatically in Medicare Part B the month that you turn 65. If you birthday falls on the first of the month you will be enrolled in Part B on the first day of the previous month. Disabled individuals under the age of 65 will automatically receive Part B upon receiving social security disability benefits. Most people will be required to pay monthly premiums depending on income variable to ensure continued Medicare Part B coverage. Most of the time this premium is deducted from monthly Social Security payments depending on income.
Medicare Part B is optional, and you may choose to opt out of Part B at anytime by sending the Medicare Part B card back after you receive it through the mail. If you keep the card, you are opting to keep paying Medicare Part B premiums. If you opt out of enrolling during the initial enrollment period, you will have the opportunity to register during the general enrollment periods which runs from January 1 to May 1. Be aware that each 1 year period that you are qualified for but opt out of Medicare Part B you monthly premium will increase by 10 percent.
Medicare Part B is highly recommended coverage as it fills in a lot of the gaps that Medicare Part A leaves out. It provides patients with medically necessary outpatient health care that would cost exorbitant amounts without being covered. It provides coverage for doctors in outpatient settings as well as approved medical equipment and supplies when needed. Medicare Part B covers nursing services, vaccines, cardiovascular and diabetic screenings, lab services, and more. Please note however that routine physicals are not covered by Medicare Part B, and it will not pay for cosmetic surgery, custodial care, prescription drugs, dental care, or vision care, and other such services. Medicare cannot cover every health-related service or item, and it is often the case that copays and deductibles will need paid as well for services rendered even if they are covered by your Medicare plan. Most copayments are around 20% of the total cost of the service being provided. If the service is not covered by Medicare, you may have to cover the costs entirely out-of-pocket unless you have some form of separate coverage that will cover what Medicare won’t.
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*(Starting January 1, 2011, in some states (CA, FL, IN, KS, KY, MO, NC, OH, PA, SC, TX), Medicare Part B will only cover durable medical equipment if received from an approved supplier. )
