A, B, C and D’s of Medicare

Medicare Part B (Medical Insurance)

Medicare Part B helps cover medically-necessary services like doctor office visits, outpatient care and some preventive services. There is an annual Medicare Part B deductible that you must pay before any benefits will be paid by Medicare. You will also be responsible for a coinsurance amount for covered services.

How much does it cost?

Most people will pay $96.40 per month for 2010. This is usually withheld from your Social Security Check. If your income is above $85,000 for an individual or $170,000 for a married couple, your monthly premium will be higher. Contact Medicare for more information.

When to enroll

You are automatically enrolled the first day of the month you turn 65 if you get benefits from Social Security or the Railroad Retirement Board (RRB). If you are under 65 and disabled, you will automatically be enrolled after the first day of the 25th month of your disability benefits from Social Security or RRB. If you don’t want to keep Part B, follow the instructions that come with your Medicare card and send the card back. You should receive this in the mail three months prior to your 65th birthday or your 25th month of disability benefits. If you keep your Medicare card, you keep your Part B benefits.

Some penalties apply if you do not enroll when you are first eligible and decide to enroll later. Your premiums may be higher. If you are not getting Social Security or RRB benefits you may enroll in Part B. Contact Medicare for more information.