Medicare Part B covers services such as lab tests, surgeries, and doctor visits, as well as supplies like wheelchairs and walkers that are considered to be medically necessary for treating diseases or conditions.
This part of Medicare is optional, and it requires a monthly premium. In 2018, most people pay $134.00 per month for their Medicare Part B premium. However, the premium could be higher, if your modified adjusted gross income on your IRS tax return from two years prior is more than a certain amount.
For example, if your 2016 adjusted gross income was above a certain amount based on the chart below, and based on how you file your annual IRS tax return, you may be required to pay a higher amount for your Medicare Part B premium.
|File individual tax return||File joint tax return||File married and separate tax return||Your monthly Medicare Part B premium (in 2018)|
|$85,000 or less||$170,000 or less||$85,000 or less||$134.00|
|Above $85,000 up to $107,000||Above $170,000 up to $214,000||Not applicable||$187.50|
|Above $107,000 up to $133,500||Above $214,000 up to $267,000||Not applicable||$267.90|
|Above $133,500 up to $160,000||Above $267,000 up to $320,000||Not applicable||$348.30|
|Above $160,000||Above $320,000||Above $85,000||$428.60|
Source: Medicare.gov Your Medicare Part B premium may also be higher if you did not sign up for Part B when you first became eligible. For example, if you do not sign up for Medicare Part B when you are first eligible, the premium will go up 10% for each full 12-month period that you could have had this coverage, but didn’t sign up for it. If you later decide to sign up for Medicare Part B, you may have to pay this higher premium amount for as long as you have it. You also pay a deductible each year before Medicare Part B will pay for services. This part of Medicare primarily covers two types of services. These include medically necessary services, and preventive services. Some of the services that Medicare Part B covers include:
Note: All above services may require the use of coinsurance and/or deductibles.
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