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Medicare Part B

Medical Insurance

What Does Medicare Part B Cover?

Medicare Part B is optional but helps cover medically necessary services like doctor visits and outpatient care, including most doctor services while you're an inpatient in the hospital. It also covers some preventive services to maintain health and prevent illnesses from worsening, such as flu shots and Durable Medical Equipment (DME)​

​Medicare Part B Costs

All Medicare beneficiaries must pay a Medicare Part B premium based on annual income. As of 2024, the average premium is about $174.70 per month.

 

Additionally, a small deductible must be met before Medicare pays for services. In 2024, the deductible is $240.

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Once you’ve met the deductible, Medicare generally pays 80% of the cost for doctor visits and medical services and 50% for mental health services.

Medicare Nurse with elderly man

How Much Does Medicare Pay After Deductible?

  • After meeting the deductible, Medicare typically covers:

  • 80% of eligible charges (you pay 20% of Medicare-approved services)

  • 100% of Medicare-covered clinical laboratory services and diagnostic blood tests

  • Varying amounts for preventive services

  • $0 for any charges above the Medicare-approved amount


Every Medicare Supplement plan helps cover your share, including 20% of Medicare-approved doctor services and 50% for mental health services. Medicare approves the payment amount for reasonable healthcare services.

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Still Working?

Here’s What You Should Know About Delaying Part B

You can delay enrolling in Medicare Part B if you are still employed and have group health insurance through your employer. When you retire or leave your job, you will have an eight-month special enrollment period to sign up without a late enrollment penalty.

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Medicare Part B Late Enrollment Penalty

If you don’t enroll in Medicare Part B when you’re first eligible, you may have to pay a late enrollment penalty. Your monthly premium could increase by 10% for each full 12-month period during which you could have had Part B but didn’t sign up. You may also need to wait for the General Enrollment Period (January 1 to March 31) to enroll, with coverage starting on July 1st.

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Need Help Understanding Your Medicare Coverage Options?

TWhite Insurance will help you understand your Medicare Part B options and make the best decision regarding your healthcare coverage.

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