• Latest
  • Trending
  • All
  • News
  • Business
  • Politics
  • Science
  • World
  • Lifestyle
  • Tech
Medicare Part B – 5 Important Facts

Medicare Part B – 5 Important Facts

November 21, 2022
pgslot145

pgslot145

January 27, 2023
Contamination Control in Cleanrooms: Techniques and Best Practices 

Contamination Control in Cleanrooms: Techniques and Best Practices 

January 27, 2023
How to Buy Custom Keychains From Vograce

How to Buy Custom Keychains From Vograce

January 27, 2023
How to Set up a Perfect PPC Ad Campaign

How to Set up a Perfect PPC Ad Campaign

January 27, 2023
Great Opportunity for Investing in the Modern Villas for Sale in Dubai

Great Opportunity for Investing in the Modern Villas for Sale in Dubai

January 27, 2023
An Attorney’s Guide To Wrongful Death Lawsuits

An Attorney’s Guide To Wrongful Death Lawsuits

January 26, 2023
What Makes a Fridge a Commercial Grade Refrigerator?

What Makes a Fridge a Commercial Grade Refrigerator?

January 28, 2023
Secureworks Solarwinds Therecord

Secureworks Solarwinds Therecord

January 25, 2023
Secureworks Solarwinds Therecord

Suspected Chinese Agency Hackers Used Solarwinds

January 25, 2023
Secureworks Solarwinds Therecord

Secureworks Orion Therecord

January 25, 2023
Secureworks Solarwinds Therecord

Secureworks Solarwinds Chinacimpanu

January 25, 2023
Secureworks Solarwinds Therecord

Solarwinds Orion Chinacimpanu

January 25, 2023
Visitmagazines
  • Home
  • Business
  • News
    • All
    • Politics
    • Science
    • World
    Secureworks Solarwinds Therecord

    Solarwinds Orion Chinacimpanu

    Ordering Pet Food and Supplements Online: Convenience and Safety

    Ordering Pet Food and Supplements Online: Convenience and Safety

    How OpenTelemetry Works Under the Hood in JavaScript

    How OpenTelemetry Works Under the Hood in JavaScript

    4 advantages of compostable bags over traditional plastics

    4 advantages of compostable bags over traditional plastics

    Kitchen knives and their uses

    Kitchen knives and their uses

    Blockchain System of Licenses For Creative Digital Assets

    Blockchain System of Licenses For Creative Digital Assets

    Stay Clear Of These Types Of Buyer Agents. Avoid These Types Of Agents Who Could Infect Your Buying Process.

    Stay Clear Of These Types Of Buyer Agents. Avoid These Types Of Agents Who Could Infect Your Buying Process.

    FondMart Private Label Dropshipper Review

    FondMart Private Label Dropshipper Review

    10 Reasons Why Your Expresso Might Taste Sour

    10 Reasons Why Your Expresso Might Taste Sour

    Is upgrading control arms worth it?

    Is upgrading control arms worth it?

    Trending Tags

  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    Planning A New Year In Dubai: Here’s Your Destinations

    Planning A New Year In Dubai: Here’s Your Destinations

    How large is the metaverse?

    How large is the metaverse?

    The best torrent websites for downloading TV shows

    The best torrent websites for downloading TV shows

    What Makes Dragon222 The Best Online Slots Site In Indonesia

    What Makes Dragon222 The Best Online Slots Site In Indonesia?

    Baroque music – characteristic features of the classical music epoch  

    Baroque music – characteristic features of the classical music epoch  

    5 Swimming Pool Dangers You Didn’t Think About

    5 Swimming Pool Dangers You Didn’t Think About

    What Casinos Give You Free Play For Signing Up

    What Casinos Give You Free Play for Signing Up?

    Fairspin Casino

    Fairspin Casino

    Casino Problems And Addiction

    Casino Problems And Addiction

    PG Slot – Is the Gaming Rate Increasing Day by Day?

    PG Slot – Is the Gaming Rate Increasing Day by Day?

  • Lifestyle
    • All
    • Fashion
    An Inside Look at the World of Private Investigation

    An Inside Look at the World of Private Investigation

    6 Smart Tips for Dining Out with Kids

    6 Smart Tips for Dining Out with Kids

    Reading Glasses for Women: Stylish and Functional Options

    Reading Glasses for Women: Stylish and Functional Options

    7 Tips On How To Make The Most Of Your Safari in Botswana 

    7 Tips On How To Make The Most Of Your Safari in Botswana 

    What is Form I-129F?

    What is Form I-129F?

    What to Consider When Shopping for a Horse Saddle

    What to Consider When Shopping for a Horse Saddle

    Girls Oversized Tee – Fashionable, Trendy, and Trendy

    Girls Oversized Tee – Fashionable, Trendy, and Trendy

    How To Choose The Right Shoes To Wear With A Short Dressy Dress?

    How To Choose The Right Shoes To Wear With A Short Dressy Dress?

    Bape Sweatpants

    Bape Sweatpants

    Maximizing Care with Skilled Nursing: Tips to Ensure Optimal Outcomes

    Maximizing Care with Skilled Nursing: Tips to Ensure Optimal Outcomes

    Trending Tags

  • Technology
  • Legal
    • Law
No Result
View All Result
Visitmagazines
No Result
View All Result
Home Health

Medicare Part B – 5 Important Facts

by Paloma Gonzalo
in Health
0
Medicare Part B – 5 Important Facts
493
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Are you nearing age 65? Or have you been on Social Security disability for 24 months? If you answered yes to either question, you would want to become familiar with Medicare before enrolling. Medicare is health insurance offered by the federal government. Although Medicare will send you a booklet explaining Medicare, there are still some important facts you will want to read more about. For example, Part B excess charges can be confusing to understand, so be sure to read more on excess charges here: boomerbenefits.com/part-b-excess-charges/

But keep reading as we discuss five important facts about Medicare Part B.

You may be able to delay Part B

There is a specific time you will need to enroll in Medicare, the Initial Enrollment Period (IEP). The IEP begins three months before your 65th birthday month and ends three months after. For example, if your 65th birthday is on May 12, your IEP would start on February 1 and end on August 31. During this time, you will apply for Medicare through the Social Security office.

However, let’s say you or your spouse are actively working for a large employer with 20+ employees, and their health insurance plan covers you. In this case, you can delay your Medicare enrollment until you or your spouse retire or lose active employer coverage. If your employer has less than 20 employees, you will want to enroll in Medicare through Social Security to avoid a late enrollment penalty!

Suppose you delay Medicare due to creditable coverage. In that case, you will want to ensure your HR department fills out the form CMS-L564, proving you were covered by creditable coverage while delaying Medicare. You will submit this form, along with form CMS-4B (Part B application), to the Social Security office when you apply for Medicare.

Medicare Part B covers outpatient services

Two parts make up Original Medicare: Medicare Part A and Medicare Part B. Medicare Part A covers inpatient care, and Medicare Part B covers outpatient care. Here are a few services that fall under Medicare Part B:

  •       Doctor’s visits
  •       Ambulance rides
  •       Durable medical equipment
  •       Outpatient surgeries
  •       Chemotherapy and radiation
  •       Emergency room visits
  •       A Welcome to Medicare visit and Annual Wellness Visits
  •       X-rays

Medicare covers medically necessary services to treat or diagnose an injury, illness, or disease. But, there are some outpatient services that Medicare Part B does not consider medically necessary, such as routine dental, vision, and hearing services. However, that does not mean that Part B will not cover outpatient cataract surgery. It just won’t cover these services if they are coded as routine.

What is a Part B excess charge?

Before you schedule a visit with your doctor, ask if they accept Medicare Assignment. If they don’t accept Assignment, you could be charged extra for your visit. Here’s what this means –

Medicare Assignment is when your doctor agrees to the Medicare-approved amount as the full payment for your medical services. If your doctor does not accept Medicare Assignment, they can charge you up to 15% extra than the Medicare allowable amount. The 15% charge is known as a Part B excess charge.

Be sure to ask your doctor if they accept Medicare Assignment, so you aren’t hit with a surprise bill that costs more than you expected.

Part B doesn’t cover all services in full

As mentioned above, Medicare Part B covers outpatient services. However, this does not mean that Part B covers all of these services 100%. Now, Part B does cover many services in full, such as the Welcome to Medicare visit, but for the most part, you will have out-of-pocket costs for most of your outpatient services.

Medicare Part B has an annual deductible of $233 in 2022 and will decrease to $226 in 2023. When you have a Medicare-approved outpatient service, you will first need to pay the deductible. After you meet the deductible, Part B will cover 80% of your Medicare-approved outpatient services. You will pay the remaining 20% coinsurance for your services for the rest of the year.

Due to these out-of-pocket costs, many beneficiaries purchase a Medigap or Medicare Advantage plan from a Medicare broker for cost-sharing help.

The more you make, the more you pay

Medicare Part B has a monthly premium that all beneficiaries must pay. The standard Part B premium in 2022 is $170.10 in 2022; in 2023, the premium will decrease to $164.90 per month. However, if you are in a high-income tax bracket, you will pay an income-related monthly adjustment amount (IRMAA) fee on top of your monthly Part B premiums. Here’s why –

The Social Security office will look at your modified adjusted gross income (MAGI) reported on your tax returns two years ago to determine your Part B premium. If they find that you are in a high tax bracket, you will pay the IRMAA fee. Depending on your income level, you could pay more than $500 monthly for Part B.

But don’t fear; you could appeal your higher Part B premium if you experienced a life-changing event like retirement or divorce. You will submit a reconsideration form to the Social Security office so they can re-evaluate your monthly premiums.

Final point

Medicare can feel daunting at times but know that there are many free online Medicare resources to help further your Medicare knowledge. Utilize your resources and work with a reputable Medicare broker, so you don’t have to navigate this maze alone!

Share197Tweet123Share49
Previous Post

Candy Burst pg

Next Post

The Important of Mobile Mechanic Tilehurst Reading

Paloma Gonzalo

Paloma Gonzalo

Next Post
The Important of Mobile Mechanic Tilehurst Reading

The Important of Mobile Mechanic Tilehurst Reading

Please login to join discussion
  • Trending
  • Comments
  • Latest
khatrimaza | khatrimazafull| Okhatrimaza is an Indian website – why is it banned?

khatrimaza | khatrimazafull| Okhatrimaza is an Indian website – why is it banned?

March 14, 2022
Get the New Experience of Beer Tasting withWorld of Beer Tampa Bay, Florida

Get the New Experience of Beer Tasting withWorld of Beer Tampa Bay, Florida

October 22, 2022
สูตรแทงบอล SBOBET(SBOBET Football Betting Formula) and Strategy

สูตรแทงบอล SBOBET(SBOBET Football Betting Formula) and Strategy

May 26, 2022
Khatrimaza cool | Khatrimaza full | Khatrimaza pro – Watch the latest videos, photos, and news on Khatrimaza.

Khatrimaza cool | Khatrimaza full | Khatrimaza pro – Watch the latest videos, photos, and news on Khatrimaza.

65
khatrimaza | khatrimazafull| Okhatrimaza is an Indian website – why is it banned?

khatrimaza | khatrimazafull| Okhatrimaza is an Indian website – why is it banned?

24
7starhd win | 7starhd loan | 7starhd fans | 7starhd bv: Download Hindi, Tamil, Bollywood, Hollywood Best Movies for Free & Enjoy the Movies

7starhd win | 7starhd loan | 7starhd fans | 7starhd bv: Download Hindi, Tamil, Bollywood, Hollywood Best Movies for Free & Enjoy the Movies

1
pgslot145

pgslot145

January 27, 2023
Contamination Control in Cleanrooms: Techniques and Best Practices 

Contamination Control in Cleanrooms: Techniques and Best Practices 

January 27, 2023
How to Buy Custom Keychains From Vograce

How to Buy Custom Keychains From Vograce

January 27, 2023

Visitmagazines.com © Copyright 2023, All Rights Reserved

  • Privacy Policy
  • Contact us

Follow Us

No Result
View All Result
  • Home
  • News
    • Politics
    • Business
    • World
    • Science
  • Entertainment
    • Gaming
    • Music
    • Movie
    • Sports
  • Tech
    • Apps
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Food
    • Fashion
    • Health
    • Travel

Visitmagazines.com © Copyright 2023, All Rights Reserved

Cleantalk Pixel