Before we begin talking about Medicare Part B I would like to clear up something that was in last week’s article concerning Medicare Part A. As I stated in the article Part A has a deductible of $1,364 per benefit period. I also stated that if you paid into Medicare for 40 quarters that Part A was free to you. I was referring to the fact that you would not have to pay a premium to Medicare for Part A, not that it would exclude you from paying the deductible.
Medicare Part B is the part of Medicare that is billed when you receive services as an outpatient by a Medicare approved provider, such as your primary care physician (PCP) or specialist. Although a visit to your doctor is the primary way that you will use Medicare Part B, it also covers many other services. We will discuss the other services in next week’s article.
If you are turning 65 in 2019, Medicare Part B will have a premium of $135.50/mo. Because there is a premium attached to Medicare Part B this coverage is optional. This means you are not required to enroll in Medicare Part B. There are two important things to remember about Part B being optional. First, if you opt out of Part B you will have no coverage under Medicare for your outpatient services. Second, if you decide at a later date to enroll in Part B there can be a late enrollment penalty applied that will last as long as you live and have Part B. There are exceptions to the late enrollment penalty that we will discuss in future articles.
If you have questions regarding any aspect of Medicare or Medicare health plans feel free call us at Alabama Health Guidance (256-648-5710), stop by our office at 885 Florence Blvd (Four Lane Shopping Center) or email me at email@example.com.