Medicare Part A and Medicare Part B are required if you want to apply for a Medicare Supplement policy. When you have both Medicare Parts A and B it is commonly known as Original or Traditional Medicare. For Americans over the age of 65, Medicare Part A and Part B form the core of their healthcare. Medicare is one of the best healthcare systems in the world.
What does Medicare Part B Cover?
Medicare Part A is the first part of Medicare. It is free and is mostly in-patient Hospital Coverage. Medicare Part B is the second part; it helps cover outpatient treatments. The services fall into two categories, (1) Medically necessary services, such as treatments required to diagnose and treat accepted medical conditions. (2) Preventative services to help prevent illnesses, like flu shots, or to detect conditions at an early stage like prostate cancer screenings or mammograms.
- Outpatient Care
- Home Health Care
- Preventive Services
- Durable Medical Equipment (DME)
- Flu Shots
- Mental Health
- Ambulatory service
However, Medicare Part B is not designed for long term care, dental issues, routine foot care, hearing devices, or eye exams to name a few.
Who is Eligible for Medicare Part B?
- Some Disabled individuals
- People with Renal Disease
- 65 or older
What is the Cost of Medicare Part B?
Although Medicare is administered by the government, it comes at a small price. Most Americans pay a monthly cost of $104.90. However, some people who are Medicaid eligible may get it for free. And some higher income individuals will pay higher rates for their Part B. Once you enroll in Medicare, a review of your last two years tax returns will be used to determine the cost of your Part B.
Medicare Part B Deductible and Co-Insurance
Medicare Part B has a deductible and co-insurance. Each person must meet the $185 per year deductible. This is a calendar year deductible. After deductible Medicare Covers 80% in most cases, leaving the patient with 20% of the cost.
Medicare Part B Preventive Care
The government and healthcare community want to make sure certain medical items are covered. Preventive care helps both medical insurance and the government save money. Medicare Part B recipients can receive the following each year for free:
- Cardiovascular disease screenings
- Diabetes screenings
- Colo-rectal Cancer Screenings
- HIV Screenings
- Bone Density
- Prostate Cancer Screenings
- Cervical Cancer Screenings
Part B Enrollment
Enrollment in Part B is easy. Often times it will automatically process or you could visit Medicare.gov to enroll online. It is very common today that a person’s Part A and Part B both automatically begin on the 1st day of one’s 65th birth month. So if a person turns 65 on June 7th, their Part A and Part B would begin June 1st. If you have questions about Part B enrollment and want to learn more about Medicare it is best to let us provide you with a Medicare Overview.