Part B (Medical Insurance Plan) is available for both Original Medicare and Medicare Advantage plans, at no cost, for anyone eligible for Part A. Part B requires monthly premiums, based on your income and is therefore an optional part of the Medicare Plan.
Medicare Part B covers the following:
- Doctors’ services
- Outpatient medical/surgical services
- Diagnostic tests
- Outpatient therapy
- Some outpatient mental health services
- Some preventive health care services
- Other medical services
Out-of-pocket expenses for Medicare Part B include:
- Monthly cost = $148.50
- Annual Deductible = $203
- 20% of Medicare-approved rate for most doctor services
- 20% of Medicare-approved rate for most outpatient mental health services
Medicare Part B has a modest annual deductible of $203 and, if you enroll for the first time in 2021, a monthly premium of $148.50. This can increase, depending on your 2020 income but in general, it costs $148.50 per month.
After your deductible is met, you typically pay 20% of the Medicare-approved amount for most doctor services (including most services while you are at an inpatient hospital), outpatient therapy, and durable medical equipment.
While a mental health screening for depression is covered 100%, most outpatient mental health services, including diagnosing and treating a mental health condition costs 20% of the Medicare-approved rate.
What is NOT Covered by Part B?
The following services are not covered by Medicare Part B:
- Most dental care
- Eye exams related to prescribing glasses
- Cosmetic surgery
- Massage therapy
- Routine physical exams
- Hearing aids and exams for fitting them
- Long-term care
- Concierge care