Original Medicare is made up of two parts: Medicare Part A and Medicare Part B.
Medicare Part B is also known as medical insurance and helps cover medical services and supplies that help treat health conditions or prevent disease.
Some examples of the types of services covered under Medicare Part B include:
Medicare Part B requires you to pay a monthly premium for your Part B benefits. In 2019, the standard Part B premium is $135.50 per month.
Some beneficiaries may pay more than the standard Part B premium because they have a higher income. This extra amount is called the Income-Related Monthly Adjustment Amount (IRMAA).
The highest income earners will pay $460.50 per month for their Part B coverage in 2019, based on the Medicare IRMAA.
Medicare Part B also has some out-of-pocket costs that you must pay, including:
Medicare Part B is optional. Many beneficiaries are automatically enrolled. If you aren't automatically enrolled, you may need to sign up during one of the Medicare enrollment periods.
Medicare Supplement Insurance, also called Medigap, helps cover some of the out-of-pocket expenses associated with Part A and Part B.
Some Medigap plans can cover the cost of the Part B deductible, Part B coinsurance and excess charges.
Medicare Part B does not cover hospital or skilled nursing facility costs. Your Medicare Part A benefits cover these types of services.
Neither Medicare Part A or Medicare Part B cover:
Not all Medicare Advantage plans offer these benefits. Plan availability can vary based on where you live.
Medicare Advantage is an alternative to Original Medicare that is sold by private insurance companies. Every Medicare Advantage plan provides at least the same benefits as Medicare Part A and Medicare Part B combined in one plan.
If you are interested in finding a plan that may offer more coverage than Medicare Part B and Part A, you can call to speak with a licensed insurance agent to find Medicare Advantage plans that may be available in your area.
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MedicareAdvantage.com is a website owned and operated by TZ Insurance Solutions LLC. TZ Insurance Solutions LLC and TruBridge, Inc. represent Medicare Advantage Organizations and Prescription Drug Plans having Medicare contracts; enrollment in any plan depends upon contract renewal.
Plan availability varies by region and state. For a complete list of available plans, please contact 1-800-MEDICARE (TTY users should call 1-877-486-2048), 24 hours a day/7 days a week or consult www.medicare.gov.
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