Medicare Part B – Medical Benefits

What is Medicare Part B “Medical Insurance”

Medicare Part B is an additional part of your Medicare benefits plan. Whereas some individuals automatically get enrolled in Part B, others might have to specifically sign up for it. Individuals who are already enrolled in Social Security or Railroad Retirement Board automatically get signed up for both Medicare Part A and Medicare Part B coverage. Medicare allows you to postpone or even cancel Part B coverage if you choose not to receive these benefits. Some may do this because they choose to continue to work and remain on their Employer Group Benefit Plan.

What Does Part B Cover?

Medicare Part B covers:

Doctor’s services: Visits to primary care physicians and specialists.
Lab: analysis for blood and urine testing
Flu and Hepatitis B shots
Ambulance services: if necessary
Outpatient care: Including visits to clinics and hospital outpatient departments.
Preventive services: Such as flu shots, screenings for various conditions, and wellness visits.
Home health services: For those who are homebound and require skilled nursing care or therapy.
Durable medical equipment (DME): Items like wheelchairs, walkers, and oxygen equipment.
Mental health services: Outpatient counseling, psychiatry, and treatment.
Certain medications: Specifically those administered in a doctor’s office, such as chemotherapy drugs.

Medicare might be applicable to you if you are 65 or older, suffer from end-stage Renal Disease (kidney failure) or are disabled under the age of 65. In addition to Medicare Part A (hospital coverage), Medicare Part B plays an important role in your health benefits.

Part B “Medical Insurance” Costs

The costs for Medicare Part B include premiums, deductibles, and coinsurance. As of 2024, these costs typically include:

Cost Component	Amount (2025)
Monthly Premium	$185.00 (standard)
Annual Deductible	$257
Coinsurance	20% of the Medicare-approved amount after deductible
Late Enrollment Penalty	10% increase for each full 12-month period without Part B when eligible (if applicable)

Monthly Premiums for Higher-Income Beneficiaries

For beneficiaries with higher incomes, the monthly premium for Medicare Part B includes an Income-Related Monthly Adjustment Amount (IRMAA). The following table shows the adjusted premiums based on income levels:

Full Part B Coverage
Beneficiaries who file individual tax returns with modified adjusted gross income:	Beneficiaries who file joint tax returns with modified adjusted gross income:	Income-Related Monthly Adjustment Amount	Total Monthly Premium Amount
Less than or equal to $106,000	Less than or equal to $212,000	$0.00	$185.00
Greater than $106,000 and less than or equal to $133,000	Greater than $212,000 and less than or equal to $266,000	74.00	259.00
Greater than $133,000 and less than or equal to $167,000	Greater than $266,000 and less than or equal to $334,000	185.00	370.00
Greater than $167,000 and less than or equal to $200,000	Greater than $334,000 and less than or equal to $400,000	295.90	480.90
Greater than $200,000 and less than $500,000	Greater than $400,000 and less than $750,000	406.90	591.90
Greater than or equal to $500,000	Greater than or equal to $750,000	443.90	628.90

The 2025 Part B total premiums for high-income beneficiaries who only have immunosuppressive drug coverage are shown in the following table:

Additional Notes

Late Enrollment Penalty: If you don’t sign up for Part B when you’re first eligible and don’t qualify for a Special Enrollment Period, you may have to pay a late enrollment penalty for as long as you have Part B. The cost of Part B may go up 10% for each full 12-month period that you could have had Part B but didn’t sign up for it.
Enrollment: Initial enrollment begins three months before the month you turn 65 and ends three months after the month you turn 65. There are also Special Enrollment Periods for those who delay Part B due to other credible health coverage.

Understanding these components can help individuals make informed decisions about their healthcare needs and financial planning as they approach eligibility for Medicare.

Florida Medicare Supplements

The first step in making sure that the gaps in Medicare are filled and you have a good understanding of what is available to you. There are basically three ways to accomplish this.

Clients tell us that trying to figure out what direction to take can often feel like going through a maze. That is where we come in. We know that Medicare is not one size fits all. We can simplify things by asking you a some questions and providing you with the necessary information you need to make an informed decision about what is right for you. We offer a truly unbiased approach and practical solutions to help you find a plan that will most suit your needs and budget.

Call us today, toll free at 1-888-564-2326. Look for our Testimonial Page that is coming soon.