What You Need to Know about Medicare Part B

The two main parts of Original Medicare are Part A (hospital insurance) and Part B (medical insurance). Any senior who qualifies for Medicare is eligible for Part B benefits, and the vast majority of seniors choose to enroll. If you are new to Medicare or just getting ready to transition to Medicare, you may have several questions about Part B benefits.


We hope to provide some answers here. Please feel free to reach out to one of our knowledgeable Medicare agents with any further questions about your Medicare coverage. We are here to help!

What You Need to Know about Medicare Part B


Should I sign up for Medicare Part B?


Seniors benefit from the medical insurance that comes with Medicare Part B. Medically-necessary health care such as doctors’ visits and tests, outpatient care, durable medical equipment, preventative care, home health care and other medical services are included in Part B.


While almost all seniors are eligible for premium-free Part A benefits, Medicare Part B does come with a monthly premium. The premium is based on your modified adjusted gross income (MAGI). If your MAGI is less than or equal to the “higher-income” threshold, you pay the “standard” Medicare Part B rate. In 2021 that rate is $148.50 a month. Seniors with low-income and low resources may qualify for a reduced or free monthly premium.


Ideally, seniors should sign up for Part B when they first become eligible. If you wait until the month you turn 65 or the three months after your 65th birthday to enroll, your Part B coverage will be delayed. This means that you could experience a gap in health coverage and you may even be assessed a late enrollment penalty.


According to AARP, the vast majority of people (93 percent) enroll in both Medicare Part A and Medicare Part B. Only six percent of eligible seniors enroll in Part A on