Medicare Part B (Medical Insurance)

Medicare Part B helps pay for doctors’ visits, outpatient hospital care, and some other medical services that Part A doesn’t cover, such as the services of physical and occupational therapists, and some home health care. Part B helps pay for these covered services and supplies when they are medically necessary. Information about your coverage under Medicare Part B can be found in the Medicare Coverage database.

To find out about the 2010 rates for Part B, click here.

How Do I Enroll In Medicare Part B?

If you already receive Social Security Benefits, you will automatically be enrolled in Medicare Part A and B the month you turn 65. Three months prior to your birth date you should be receiving your Medicare card in the mail.

If you don’t receive Social Security Benefits you need to apply at the beginning of your seven-month initial enrollment period (90 days prior to your 65th birthday) to make sure your coverage start date will not be delayed. Please call or visit your Social Security office to sign up. At this time you have also the option to apply for Social Security Benefits.

What Is The Late Enrollment Penalty For Part B?

If you don’t sign up for Medicare Part B when you are first eligible, you may have to pay a late enrollment penalty for as long as you have Medicare. Your monthly premium for Part B may go up 10% for each full 12-month period that you could have had Part B, but didn’t sign up for it. Usually, you don’t pay a late enrollment penalty if you sign up for Part B during a special enrollment period.

Do I have To Enroll in Part B?

Enrolling in Part B is your choice. However, you will automatically be enrolled in Plan B if you qualify for traditional Medicare, and have to opt out if you don’t want it.

How Do I Opt-Out Of Part B Coverage?

If you want to opt out of Part B coverage, you will need to follow the instructions with your Medicare card.

Do I Have To Pay For Traditional Medicare?

If you or your spouse paid Medicare taxes while you worked you do not have to pay a monthly payment called a premium for Part A.

If you or your spouse did not pay Medicare taxes or you did not work, and you are age 65 or older, you still may be able to buy Part B when:

• You (or your spouse) aren’t entitled to Social Security because you didn’t work or didn’t pay enough Medicare taxes while you worked and you are age 65 or older, or
• You are disabled but no longer get premium-free Part A because you returned to work.

If you have limited income and resources, your state may help you pay for Part A and/or Part B.

It might be a good idea to think about additional coverage by comparing Medicare Supplemental insurance quotes and Medicare Advantage plan quotes to your Medicare Part B premium in order to find the health care coverage that best suits your needs and your budget. Also, adding a Medicare prescription drug plan may help you with high costs for medications in the future.