Medicare Part B is also known as Medical Insurance. It is part of the original Medicare and covers the cost for any medical services/supplies that are needed to treat your health conditions, including doctor’s services, preventative services, ambulance services, laboratory tests, imaging, and other outpatient services.

Am I eligible for Medicare Part B?

Anyone who is eligible for Medicare Part A is also eligible for Medicare Part B. Enrollment is required for Part B and the current 2021 premium is $148.50 (varies depending on income and marital status – see chart below for details).

That’s the monthly premium. Is there also a deductible?

Yes, there is also a deductible for Part B. The current annual deductible for Part B is $198, so your Part B coverage won’t start until that is fully paid.

That’s a really low deductible!

Yes, it is! However once the deductible is met, you have to pay a 20% coinsurance fee for every visit. This does not have a cap – which means you could be responsible to pay large sums of money for ongoing outpatient care and/or significant surgeries! This is worrisome for many individuals who have worked hard throughout their career to build up their hard-earned savings.

How can I protect myself and my wealth from this?

To protect from these excessively high medical bills, many seniors will consider purchasing private insurance called Medicare Supplement insurance policies (also known as Medigap policies).

Whew. Where can I learn more about these Medicare Supplement policies?

Click on the Medicare Supplement tab to learn more, or schedule a free appointment/consultation with one of our experienced agents by calling 702-688-3083 or by scheduling a free consultation session with us!