Medicare is government-funded health insurance for United States citizens who are over the age of 65, or who have specific disabilities. Medicare is divided into four parts: A, B, C and D. Each part covers a different type of medical service. Medicare Part A covers inpatient care in hospitals, nursing homes and hospices, as well as some types of in-home health care.
What is Medicare Part B?
Medicare Part B is a voluntary supplemental policy designed to extend Medicare Part A coverage to medically necessary medical services that are not covered under Medicare Part A.
What Is Medicare Part B Designed to Cover?
Many people over the age of 65 are retirees on limited income. While Medicare Part A was designed to cover major medical expenses such as hospitalizations, the world of medicine has changed dramatically since Medicare was first implemented. Today, medical appointments, outpatient care, and other medical services play an important role in health care and can represent a considerable expense. Medicare Part B was introduced to help cover necessary medical treatments, equipment, preventive care, and in-home health care services other than the ones that are already covered by Medicare Part A.
How Your Medicare Part B Premium is Paid
In order to add Part B to your coverage, you must pay a Medicare Part B premium every month. The federal government has determined a standard premium amount, and the majority of people are required to pay that amount. If your income exceeds a certain cut-off point, however, you may be required to pay a higher premium. If this is the case, the Social Security Administration will notify you that you must pay an additional amount and let you know how much more you have to pay. If you don't sign up for Part B as soon as you are able to, or if you opt out of it initially and then decide you want it later, you will be charged a late enrollment penalty.
How to Enroll
In most cases, you will be enrolled in Part B once you're enrolled in Part A. If you're eligible for Medicare, you will get a Medicare card in the mail. If you don't want to get Part B and pay a monthly premium for it, you must follow the directions on the Medicare card to opt out of it. If you're charged a premium for Part A coverage, you will probably have to take Part B as well. This means that you will have to pay for both types of coverage each month.
What Does Medicare Part B Cover?
In general, Part B covers medical services that are considered medically necessary to prevent, treat or diagnose a medical condition. Treatments, preventive measures, and diagnoses must be in line with industry standards of medical practice in order to be covered. The Social Security Administration has published a guide entitled the Medicare and You Handbook in order to answer more specifically the question, "What does Medicare Part B Cover?"