Medicare Part B

Making up the second half of Original Medicare, Part B helps beneficiaries cover the cost of medical services and supplies needed to treat health conditions. Common services that are covered include preventive services, outpatient care, durable medical equipment, and ambulance services. There are also parts of the plan that include rehabilitative services and intermittent home health services like physical therapy.

Medicare Part B Coverages

Medicare Part B provides a solid coverage plan for beneficiaries that consists of preventative services. These can include a one-time “Welcome to Medicare” preventive visit, Hepatitis B shots, flu shots, and screenings for cancer, diabetes, & cardiovascular issues. For those who have high-risk factors for diabetes such as dyslipidemia, obesity, high blood pressure, or high blood sugar, Medicare Part B will cover routine screenings and self-management training.

With Part B insurance, short-term home health services, and medically necessary part-time care are covered. If there is a need for durable medical equipment or medical supplies like hospital beds, wheelchairs, oxygen equipment, and CPAP devices, this part of Original Medicare will help cover some of the costs. In addition to the services above, Part B also provides coverage for chiropractic services to correct spinal issues, participation in clinical trials, and emergency room visits.

Even though Part A and Part B form a strong healthcare coverage plan, there are things that aren’t covered. In order to have coverage for routine dental, vision, and hearing care you will need to either get it through a private insurer or find a Medicare Supplement plan that offers additional coverages.

Medicare Part B Cost

Unlike Part A, Medicare Part B normally requires a monthly premium which causes some policyholders to forgo it during the Initial Enrollment Period if they already have coverage. If you decide to decline Part B coverage, you will have the option to enroll again during a Special Enrollment Period that starts after your employment ends. It is important to enroll during this period if you want to avoid paying any penalties or fees in the future.

As with any insurance, Medicare Part B has a deductible of around $200 annually. It is important to note that you will also be responsible for a 20% coinsurance for most of the services under the plan.

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