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Medicare Part B: Coverage, Costs And Eligibility

Medicare Part B is a component of the U.S. federal health insurance program known as Medicare, which primarily covers medically necessary services like doctor visits, outpatient care, and preventive services. It includes coverage for services such as lab tests, X-rays, mental health care, ambulance services, and some home health care. Part B also covers durable medical equipment like wheelchairs and walkers, and certain vaccinations. Unlike Part A, which is generally premium-free for most beneficiaries, Part B requires a monthly premium, which in 2023 is $164.90 for most enrollees, though this can vary based on income. There's also an annual deductible ($226 in 2023) before coverage begins, and after that, beneficiaries typically pay 20% of the Medicare-approved amount for most services. Enrollment in Part B is not automatic for everyone; those not receiving Social Security benefits must sign up during their Initial Enrollment Period or face potential penalties for late enrollment.

Read the Full Forbes Article at:
[ https://www.forbes.com/advisor/health-insurance/medicare/medicare-part-b/ ]