Medicare Part B
Medicare Part B is the medical insurance portion of Medicare. While most individuals are automatically enrolled in Part A when they turn 65 years old, Part B is optional and individuals must enroll when they turn 65 years old. If you are still working and medical insurance through your employer, you do not need to enroll in Part B while you are still working. There are additional reasons you may not want to enroll. The publications in the right column explain in detail these different reasons.
After you enroll in Part B, there is a monthly premium. In 2017, the Part B premium for most individuals will be $134. This amount is income based and may be higher based on your income. To see if this applies to you, click here.
What Part B covers
Part B also has a yearly deductible and copayments. For 2017, the Part B deductible is $183. After the $183 deductible, your copayment will generally be 20% for all Part B services. Most people are familiar with this arrangement. Unfortunately, as we get older, our visits to the doctors office increase and as a result, these 20% copayments can add up quickly when we are on a fixed income. This is where a good Medicare Advantage plan or Medicare Supplement plan can help cover some or all of these costs.
Medicare Information
The booklets below are provided by the government and have a lot of valuable information.
Enrolling in Medicare
Valuable information about who should apply for Medicare, when you should apply, and how to apply.
2017 Medicare & You
This booklet provides up to date information on Medicare benefits and costs.
Choosing a Medigap PolicyInformation about Medicare Supplement plans and tips for choosing the one that best fits your needs.