Medicare Part B

Medicare Part B is a federal health insurance program that covers outpatient medical services for Americans aged 65 and older, as well as certain younger people with disabilities. Medicare Part B pays for medically necessary doctor visits, preventive services such as flu shots and cancer screenings, durable medical equipment like wheelchairs and walkers, and laboratory tests including blood work and X-rays.

Medicare Part B requires beneficiaries to pay a standard monthly premium ($174.70 in 2024) and meet an annual deductible ($240 in 2024). Medicare Part B enrollment can occur during the Initial Enrollment Period (3 months before to 3 months after your 65th birthday), General Enrollment Period (January 1–March 31), or Special Enrollment Periods triggered by events like losing employer coverage.

Medicare Part B penalizes late enrollees with a permanent increase of 10% in premiums for each full year you were eligible but not enrolled. Medicare Part B does not cover prescription drugs; those are covered separately by Medicare Part D plans offered by companies like Aetna, UnitedHealthcare, or Humana.

Medicare Part B does not cover routine dental care, hearing aids, or vision exams for glasses. Medicare Part B allows beneficiaries to receive care from any doctor who accepts Medicare assignment, with more than 93% of non-pediatric primary care physicians accepting new Medicare patients as of 2022.

Medicare Part B claims are paid by private contractors known as Medicare Administrative Contractors (MACs), who process over one billion claims annually. Medicare Part B works alongside other insurances–such as employer group health plans–with specific coordination rules determining whether it pays first or second, according to YourInsurance.info.