Medicare B Information

Medicare is a health insurance program meant primarily for American senior citizens over the age of 65. People younger than 65 may also qualify if they have certain health conditions or disabilities. Original or traditional Medicare comes in two parts, called A and B. Medicare Advantage, also called Part C, and Part D Medicare, which covers prescription drug coverage, can be added later. Part A is often offered without premiums and features benefits for in-patient hospital services, home health and hospice care. Part B, the other half of original Medicare, is quite different.

Premiums

• While Part A is usually offered for free, Part B coverage results in a monthly premium. These premiums are standardized and are the same regardless of gender or age. In 2010, the standard monthly premium for Part B Medicare was $110.50. However, this premium may be higher or lower depending on your modified gross adjusted income and whether or not your Part B premium is deducted from your monthly Social Security check.

Eligibility

• If you're eligible for Social Security benefits or benefits from the Railroad Retirement Board, you're eligible for Medicare Part B. You're also eligible if you have Lou Gehrig's disease. Part B coverage generally automatically starts the day you turn 65 or the day your Social Security or disability benefits begin. Part B isn't mandatory unless you want to sign up for Medicare Advantage. But if you don't sign up for Part B when you have the chance and then change your mind later, you may have to pay a late enrollment fee.

Benefits

• Medicare Part B has benefits for two kinds of services. The first are medically necessary services such as needed to specifically diagnose and treat a condition you already have. The other kind of coverage is for preventive services to help stop illnesses or treat them at an early stage. Medical care covered by Part B insurance includes physical exams, ambulance services, health screenings, limited chiropractic services, diabetes equipment, durable medical equipment such as walkers, and dialysis services and supplies.

Costs

• Costs for Medicare Part B services depend on if you get your coverage through an original Medicare plan or as part of Medicare Advantage through a private company. Part B has a yearly deductible, and you must pay all costs for medical care yourself until your deductible is met. After you meet the deductible, you typically pay 20 percent of the cost of services.