Is Medicare Part B Coverage Enough for Me? Medicare Part B is part of the original health insurance, as is Part A of Medicare (hospital insurance). You may be wondering if Part B gives you all the protection you need.
What does Medicare Part B cover?
Medicare Part B can cover a wide range of outpatient care, such as:
- Doctor visits
- Preventive care
- Flu shots
- Certain screenings, like colonoscopies and mammograms
- Lab tests and x-rays
- Limited, short-term home health care
- Ambulance services (in some cases).
Medicare Part B may also cover certain medical services provided in outpatient settings, such as surgeries, imaging, medical supplies, dialysis for defective kidneys and cancer chemotherapy. This is not a complete list of what Medicare Part B can encompass Many Medicare Part B services include sharing the costs you have to pay, such as co-insurance or co-countries.
A franchise may apply to many services. Medicare Part B generally does not cover hospital care, hospital rehabilitation or stagnant in qualified nursing facilities, all of which are costly types of care.
How Medicare Part A coverage works alongside Medicare Part B insurance
The good news is that if you qualify for Health Insurance Part B coverage, you are usually eligible for Part A coverage as well. Medicare Part A generally covers hospital admissions and physical rehabilitation, skilled nursing and limited home health services. Unlike Medicare Part B , Medicare Part A is available to many people at no additional cost.
You do not pay a monthly Medicare Part A premium if you (or your spouse) have paid health insurance tax for at least 10 years while working. Even if you are not eligible for Medicare Part A without premiums, you may be able to obtain Part A coverage by paying a monthly premium.
Part A of Medicare and Part B coverage of Medicare are worth having Part B coverage to help pay for complex and costly care associated with hospital stays, rehabilitation and skilled nursing. Like Medicare Part B services, Part A services generally require you to pay deductibles and co-insurance or co-countries.
You will need both Medicare Part A and Medicare Part B to get all health care benefits available under Medicare.
Medicare Part B coverage: Medicare Supplement (Medigap) insurance plans can fill in the gaps
Normally, Medicare Part B pays 80% for most of the services covered after reaching your annual deductible. You also usually pay for copayments or co-insurance. A Medicare Supplement plan can cover your expenses under Medicare Part B (and Part A).
Private insurance companies sell Health Supplement insurance plans. Health Supplement Plans have several standardized benefits, which means you can choose the type of health supplement plan that best suits your needs. You must have Medicare Parts A and B to purchase a health insurance supplement.
Does Medicare Part B include prescription drug coverage?
Medicare Part B does not cover most prescription drugs you take at home. Part B may cover certain medications that are given to you in a clinic. Medicare Part A plan can cover medications that are given to you as part of your hospital treatment. Unless you have prescription drug coverage from another source, such as a group health care plan sponsored by an employer, you can enroll in a Part D prescription drug plan of Medicare Part D when you register for Medicare Part B for cover most prescription drugs that you take at home.
When you enroll in a prescription drug plan when you are eligible for Medicare for the first time or when you lose your eligible prescription drug coverage, you may be able to avoid a late registration penalty. You can search for health insurance options available at your place of residence by simply entering your postal code in the box on this page and clicking the button. If you want personalized help, call us to talk to a licensed eHealth Insurance Agent who is familiar with Medicare.
Medicare Part B Premium for 2020 Rising 7% for Outpatient Care
The Centers for Medicare and Medicaid Services announced that Health Insurance Part B premiums and ambulatory care deductibles will increase in 2020. For about 70% of Medicare beneficiaries, premiums will increase by almost 7% to $144.60 per month, compared to $135.50 in 2019.
The monthly increase of $9.10 is a result of a lower increase of $1.50 this year. Health Insurance Part B Premium for 2020 7% increase for outpatient care The annual Part B deductible, which covers medical visits and outpatient care, will also increase by 7% to $80 in 2020, an increase of $13 over the annual deductible of $185 in 2019.
The announcement comes almost a month after the Social Security Administration made a modest cost-of-living adjustment of 1.6 per cent of benefits in 2020, or about $24 per month for the average retired worker. In 2019, social security recipients received an additional 2.8% adjustment to the cost of living, an average of $40.90 per month, the highest figure since 2012. The government generally deducts premiums from Part B of the health insurance plan from a beneficiary’s social security cheque.