Together with Part A, Medicare Part B makes up what is sometimes called “Original Medicare.” Part B helps pay for outpatient treatments and other medically necessary and preventative services. When coupled with Part A, which pays for inpatient services, these two aspects of Medicare help round out a patient’s overall needs.
A few of the services that Medicare Part B helps cover include diagnosis and treatment for a medical condition, mental health care including family counseling, annual health exams, ambulance services, cancer screenings, nutrition therapy, medical equipment and prescription medications.
Part B covers medical equipment that you use over and over, such as wheelchairs, walkers, and oxygen tanks.
In some cases, Part B plans may cover select prescription drugs. These covered drugs are usually administered by a physician as part of the treatment.
Unlike Part A, Medicare Part B is not free unless you are 65 years or older. Your monthly premium amount will depend on your income from 2 years ago. The more money you earned, the higher your premium cost will be. Part B premiums range from $170.10 to $578.30 as of 2022.
The deductible for Medicare Part B is annual, and the deductible period begins on the first day of the year and ends on the last. As of 2022, the Part B deductible is $233.
Once you pay the deductible, you will pay 20 percent of the cost for other outpatient services. This amount is your coinsurance or copayment.
The next plan may help you pay for Part A and Part B out-of-pocket expenses.