Medicare Part B - Outpatient Medical
Below I will cover what Part B covers, who can get it, and the costs. This will help you make informed decisions about your healthcare. Let's start!
What is covered under Medicare Part B?
Part B covers:
Doctor visits
Emergency / Urgent Care
X-Rays and MRI’s
Preventative Services— Annual wellness exams, screenings, vaccines and more.
Lab tests
Durable Medical Equipment (DME)— Wheelchair, walkers, oxygen tanks and more.
Certain injectable medications received at the provider’s facility
How much does Part B cost?
Most people joining Medicare will see that their Part B premiums will be at the ‘Standard rate’, but those making ‘higher than average income’ will need to pay more.
Part B Premiums [2024]
| 2022 Individual Tax Return |
2022 Joint Tax Return |
2024 Part B Premium |
2024 Part D IRMAA |
|---|---|---|---|
| $103k or less | $206k or less | $174.70 | None |
| $103k - $129k | $206k - 258k | $244.60 | + $12.90 |
| $129k-161k | $258k - 322k | $349.40 | + $33.30 |
| $161k-193k | $322k - 386k | $454.20 | + $53.80 |
| $193k - 500k | $386k - $750k | $559 | +$74.20 |
| $500k+ | $750k+ | $594 | +$81 |
Part B - Cost Sharing (what you pay)
| Part B costs | What you pay |
|---|---|
| Deductible | $240 once per year. |
| Coinsurance | Medicare covers 80% You owe 20% |
| There is no maxiumum out-of-pocket limit on the 20% Part B coinsurance. |