{"id":6651,"date":"2023-08-20T20:09:46","date_gmt":"2023-08-21T00:09:46","guid":{"rendered":"https:\/\/yourcarerep.com\/YCR-BU\/?p=6651"},"modified":"2023-09-21T17:13:10","modified_gmt":"2023-09-21T21:13:10","slug":"understanding-medicare-one-part-at-a-time-part-2-original-medicare-part-b","status":"publish","type":"post","link":"https:\/\/yourcarerep.com\/YCR-BU\/understanding-medicare-one-part-at-a-time-part-2-original-medicare-part-b\/","title":{"rendered":"Understanding Medicare One Part at A Time, Part 2: Original Medicare Part B"},"content":{"rendered":"\t\t
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Understanding Medicare One Part at A Time, Part 2: Original Medicare Part B<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Understanding\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\tRead the First Article: Part A<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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In the last article, we discussed how Part A works<\/a> and the costs involved in having Original Medicare\u2019s hospital plan. Now, let\u2019s look at Part B, the medical plan of Original Medicare.<\/p>

Medicare Part B is FREE to no one (except if you are on Medicaid). Everyone has their Part-B premium deducted from their Social Security or Railroad Retirement check or are billed directly if they are not receiving Social Security yet. Let\u2019s look at what Part B costs and your options for payment.<\/p>

Part B Costs and Payment Options<\/h2>

In 2023, Part B costs $164.90 per month. It is speculated that the Part-B premium will increase to $174.80 per month for 2024, but that has yet to be confirmed.<\/p>

If you took Social Security at 62 or 65, or were on Social Security Disability Insurance (SSDI) prior to turning 65, then your Part-B premium will be deducted monthly from your check, unless you choose to be billed directly. \u00a0If you are waiting to receive Social Security at full age, then you will be billed directly.<\/p>

If you are being billed directly, the first month will be billed separately, then they will bill you quarterly. So, for example, for your birthday month or first month of eligibility, you would be billed $164.90 (in 2023), then you would receive a bill for $494.70 per quarter. However, if you prefer to be billed monthly, you can choose to enroll in Easy Pay<\/a>.<\/p>

What Is Easy Pay?<\/strong><\/h3>

Easy Pay<\/a> is a program that allows you to choose a monthly bill and how you wish to pay it. You can choose to have it deducted from your checking or savings account, put it on a credit or debit card, or to receive a bill and you can pay it as you wish (check, money order, credit or debit card).<\/p>

What Are the Costs of Part-B?<\/h2>

Part B has an annual deductible of $226 for 2023. 2024\u2019s deductible has not been published yet as of this writing. Until you\u2019ve spent $226 on any medical services, Medicare will pay nothing.<\/p>

Once you\u2019ve reached your deductible, Medicare will pay 80% of any bill and you are liable for the remaining 20%. And like Part A, there is no MOOP (maximum-out-of-pocket limit). This includes durable medical equipment and Part-B drugs (which we cover below).<\/p>

What Does Medicare Part B Cover?<\/h2>

As previously mentioned, Part B is your medical insurance plan. While Medicare Part A covers facilities costs, Part B covers the medical professionals delivering the care.<\/p>