Medicare Part B is medical insurance specific to seniors or those with disabilities. It covers a host of medical services, with the exception of hospital stays (which Part A covers). Part B consists of premiums, a deductible and typically pays 80/20 for doctors’ services and outpatient care, some home health services and miscellaneous other services.
Part B does not, however, cover most drug costs, as Part D covers drugs.
Those who are receiving Social Security, Railroad Retirement, or disability benefits are automatically enrolled in Part B, all others must enroll when eligible. If you do not enroll when you are initially eligible, you may incur a penalty, which will follow you as long as you have Part B. If you do not want part B, you must opt out.
Premiums for most people are $104.90 per month, but some will pay more; if you are new to Medicare in 2016 your premium is $121.80. The annual deductible however remains consistent for all Medicare Part B participants at $166.
Medicare Part B does not cover certain services or supplies, and not all doctors accept Medicare. So it’s important to do some research before embarking on your Medicare path.
Open enrollment begins October 15 th and ends December 7 th . If you have questions regarding Medicare and would like to speak with someone, The Area Office on Aging of NW Ohio provides confidential and objective benefits assistance through the OSHIIP program, at no charge.
Contact the Area Office of Aging at 419-382-0624 to schedule an appointment.