Medicare Part B, also known as medical insurance, is part of the federal government health insurance plan called Original Medicare. Part B covers all the medical supplies and services that you would need in your treatment. This includes outpatient care, medical equipment, and ambulance services. This plan also takes care of any part-time home health care and rehabilitative services, like physical therapy, as long as they are part of your treatment.
Part B also covers preventive services, such as flu shots, hepatitis shots, cardiovascular screenings, cancer tests, diabetes tests, a “Welcome to Medicare” preventive visit, and other services. If you want to see a comprehensive list of all the preventive services covered by Part B, you can read through the Medicare handbook, or confirm the services with Medicare.
If you are using a Medicare Advantage Plan, you will get access to Medicare Part A and B coverage through a private health insurance company in partnership with Medicare. According to the law, Medicare Advantage Plan must have the same coverage as Original Medicare.
Certain plans are not included in Original Medicare but are offered by Medicare Advantage, such as prescription drug coverage, hearing and routine vision, and dental treatments.
Who is eligible for Medicare Part B?
If you are eligible for premium-free Medicare Part A, you are also eligible for Part B but will need to enroll and pay a monthly premium to enjoy the benefits of the health plan. However, if you are not eligible for the premium-free Part A, you must meet the following requirements before you can qualify for Part B:
- You must be above the age of 65
- You must be a bonafide citizen of the U.S. or be a legal permanent resident of the country for no less than five consecutive years.
If you are disabled, you are automatically qualified for Part B. You can also benefit from this health plan if you are below the age of 65 and are collecting your Social Security disability benefits or pension from the Railroad Retirement Board.
You will automatically become a beneficiary of Part A and B after two years of receiving your disability benefits. If you have End-Stage Renal Disease or Amyotrophic Lateral Sclerosis (ALS), you are eligible for Part B.
When should you register for Medicare Part B?
You are automatically eligible for Part B if you are disabled and have been collecting your disability retirement benefits for at least two years before the age of 65. As soon as you are 65, you will be registered.
If you do not want to register during your Initial Enrollment Period and are not qualified for a Special Enrollment, you can register during the yearly General Enrollment Period, which starts on January 1 and lasts through March 31. For late enrollment, you will pay an additional fee.
As soon as you are 65 or older and are a beneficiary of Part B, your six-month Medigap Open Enrollment Period will commence. This is the appropriate time to buy a Medicare Supplement insurance plan as you have a guaranteed-issue right to purchase any plan under Medigap without having to pay a high premium.
At Hitcho Insurance, we work with you to find the best Medicare policy that suits your needs, your goals, and your finances. If you’re wondering if Medicare Part B is right for you, then give us a call today at (610) 694-9435 and receive a free consultation.
