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- Open Enrollment 2023 FAQ
- Get Ready! Medicare Open Enrollment Begins October 15th
- Ten Shocking Medicare Stats
- Minimize Home Care Costs with Medicare
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- 5 Ways to Get the Most from Medicare
- How to Spot Medicare Open Enrollment Scams
- 200,000 Doctors are Turning Away New Medicare Patients
- Doctors Warn Patients About Upcoming Medicare Changes
- The Mystery of Medicare
- Medicare Cost Plans vs. Medicare Advantage
- Shopping for Medicare Last Minute
- 5 Reasons to Switch Your Medicare Advantage Plan
- Medicare Help: Get Help Choosing a Hospital
- What do Medicare drug plans cover?
- How Medicare Online Works for Medicare Beneficiaries
- Medicare Part A Costs
- When to buy Medigap Insurance
- The Latest in the Battle for Prescription Drug Coverage
- Don’t Miss These Medicare Deadlines
- 4 Tips for Protecting Your Retirement Savings
- Medicare Open Enrollment Starts Soon
- The Ultimate Retirement Checklist
- Health Care to Cost $10K Per Person
- 8 Things Seniors Should Know About Hospice Care
- Do seniors know enough about their Medicare choices?
- Retirement Plans You Might Regret
- Medicare Penalized for Being Too Careful
- Paul Ryan’s Plan to Make Medicare a Voucher Program
- Thrown Away: $3 Billion in Cancer Drug Spending Wasted
- How Seniors are Winning with Home Care
- Medicare Facts - Are Injections Better Than Eye Drops for Addressing Cataracts
- 3 Things You Don’t Know About Medicare But Should
- Americans Want Medicare to Cover Obesity Treatments
- Best Places to Retire with Affordable Healthcare
- Medicare to Test New Drug Pricing for Doctors and Hospitals
- Retirement – 5 Websites Made for Retirees
- Medicare Home Health Agencies
- Medicare Part B Costs And Coverage 2016
- Medicare Advantage is Changing in 2016 – Are you Ready?
- Choosing a Home Health Agency
- Medicare Part D Costs and Coverage 2016
- DIY Guide to Medicare Shopping
- Should Medicare Cover Genetic Sequencing?
- CMS Bars Cigna from Enrolling New Medicare Members
- Is Medicare for All an Achievable Goal?
- Trump – Medicare Should Negotiate Drug Prices
- A Guide to Medicare Part A
- 5 Things You Didnt Know About Medicare
- Medicare News: A Look Back at Medicare Changes in 2015
- Hospital Prices Vary Across U.S.
- Five Ways You’re Wasting Your Retirement Money
- Government Targeting Remaining Uninsured
- Retirement Benefits Set to Change in 2015
- Medicare Costs: These 5 Screenings will Help You Keep Medicare Costs Down
- Medicare Spending: New way to explore Medicare prescription-drug spending
- Infections & Mistakes - Medicare Penalizes South Florida Hospitals
- Three Changes Coming to Medicare in 2016
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- Get Your Free Flu Shot Before It is Too Late
- Antibiotic Use: When Not to Take Antibiotics
- Medicare Premium Costs Are Not Going to Spike For Now
- A Migraine even without throbbing pain is a migraine
- Deciding on your best options according to your circumstances and needs
- Medicare Advantage Plans (Under part C)
- Medicare Prescription Drug plans (Part D)
- The things that Medicare doesn’t take care of
- Nurture your body by drinking plenty of water
- Avoid paying more for prescription drug coverage
- Dear Coffee lovers, Caffeine may actually be beneficial for you
- How does one select a primary care provider for oneself or a loved one?
- Know how traveling affects your Medicare plans
- Have Medicare costs been worrying you? The good news is, you may qualify for financial hel
- What should be done if I want to make a transition from Health Marketplace to Medicare
- The drawbacks of Medicare Advantage
- Can Medicare Advantage provide quality, savings, satisfaction and access- all together?
- Refining Medicare Advantage
- What are my expectations from a Medicare program?
- Medicare Additional/Supplemental Insurance Plans
- Working towards better American Health care- Medicare Advantage
- Managing out-of-pocket costs and paying for Medicare
- The basics of medicare and how it works
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Medicare Part B Costs And Coverage 2016
In our Medicare guide series we’ve attempted to help seniors better understand Medicare plans and the costs associated with each. Choosing any healthcare plan can be confusing and challenging, but Medicare is especially important to retirees who would not be able to afford healthcare otherwise.
Medicare Part B is an important piece of overall Medicare coverage. Learn more about Part B, what it costs and what it covers before picking your Medicare plan.
Medicare Part B Costs
To get Medicare Part B coverage participants will have to pay a monthly premium, but prices do vary from person to person. The average charge for most newly enrolled is $121.80 a month. However, law requires that Medicare increases account for cost-of-living adjustments for Social Security, which means that the majority of existing participants pay a monthly premium of $104.90.
Those with high incomes will pay higher premiums for Part B coverage. Premiums for 2016 are determined by your 2014 income. Some will see premiums as high as $389.80.
In addition to paying monthly premiums, Medicare Part B participants will have to pay deductibles and coinsurance (co-payments). The Part B deductible is $166 per year, after which you will pay 20% of whatever amount Medicare approves for most services covered by Part B. On the other hand, Part B does cover many preventive services, which means no out-of-pocket expenses for seniors.
Medicare Part B Coverage
Medicare Part B specifically covers those services that are considered medically necessary to treat a specific condition or disease. That means Part B covers anything that is needed to diagnose or treat a condition and services necessary to prevent illness or provide early detection. Seniors can use Part B to cover doctor visits and medical diagnostic tests. In addition to these services Medicare Part B also covers ambulance services, clinical research, durable medical equipment, second opinions prior to a surgical procedure, and mental health services.
If you’re new to Medicare, Part B covers a “Welcome to Medicare” preventive visit. Included in this preventive visit is a review of medical history, body mass index calculation, and measurement of your height, weight, and blood pressure. One vision test, review of depression, and written plan for shots and screenings are also included.
What Part B Doesn’t Cover
Part B doesn’t cover dentures and most dental care. It also does not cover eye examinations related to glasses prescriptions or contact lenses. Examinations for hearing aids are also not covered by Part B.
Medicare Part B is essential for retirees, providing access to a wide array of vital medical services. However, it does not cover everything and can be expensive for those with lower income. Medicare Part B does provide coverage and a set of benefits that keep participants healthy well into their golden years. Is Part B for you? How will you determine Medicare coverage? Let us know in the comment section below, and shop free Medicare quotes online today.