To start with, you must know that your Original Medicare policy consists of 2 parts: Part A (that primarily covers hospital care) & Part B (that offers a standard medical coverage). In this blog post, we will discuss Part B Medicare and what it covers.
Part B Medicare: What’s Covered?
Part B Medicare is intended to assist you in paying for the majority of medical coverage that does not constitute hospitalization. Whilst Part B is optional, it is a must if you do not wish to pay hundred percent of your visits to the doctor. Besides, Part B can also partially cover speech, occupational and physical therapy, a few medications administered by your doctor, certain medical equipment that is durable (such as canes, wheelchairs, etc). In addition to the regular monthly premium, Part B Medicare also comes with some out of pocket expenses. Medicare Supplement Plans can be ideal to cover these additional costs.
Costs associated with Part B Medicare:
Monthly Premium for Medicare Part B (quite a few people will need to pay these)
Most services offered by your doctor(these also include in-patient hospital care): The participant is required to pay 20 percent of the visit costs.
You will also be paying 20 percent of the amount for durable medical equipment.
Co-payment for Medicare Part B (based on the service)
$0 for Home Health Services**
*Individuals with higher income levels will have to pay an increased amount as a premium.
**Despite the fact that Home Health Services can be entirely covered at no extra cost on your behalf, if somebody needs durable medical gear, then they must pay twenty percent of the final costs.
What is Not Covered by Part B Medicare?
Below we have listed some examples of the areas which Part B Medicare won’t cover:
Hearing, vision, or dental care, hospitalization, additional expenses at a doctor’s office, blood that is not donated, acupuncture, & prescription medications.
Part B Medicare: Important Note
Athough Part B Medicare will cover 80 percent of a number of medical associated services, you’ll still be required to cover the rest of the 20 amount of the above costs. Besides, Traditional Part B Medicare is likely to put a limitation on physical, occupational & speech therapy.