Medicare 101
PART B
Medicare Part B
Medicare enrollment and premium is handled through Social Security:
7-month window around your 65th birthday
Three months prior to birthday month Three months post birthday month
If enrollment window is missed, you may enroll within the General Enrollment Period.
January 1 – March 31 to start Medicare for a July 1 effective date.
Want to keep working past 65?
You can defer Part B if covered by CREDITABLE employer plan.
What Medicare Beneficiaries Pay
MAGI
Some people will pay more for Part B based on their modified adjusted gross income (MAGI) as reported on their taxes from 2 years ago.
Social Security
Monthly premium based on income is directly deducted from Social Security.
EFT
If not claiming Social Security Income, you can receive a quarterly bill or pay monthly via EFT.
Medicare Part B Premium
2019 Yearly Income
File Individual Tax Return
$88,000 or less
above $88,000 up to $111,000
above $111,000 up to $138,000
above $138,000 up to $165,000
above $165,000 up to $500,000
above $500,000
File Joint Tax Return
$176,000 or less
above $176,000 up to $222,000
above $222,000 up to $276,000
above $276,000 up to $330,000
above $330,000 up to $750,000
above $750,000
File Married & Separate Tax Return
$88,000 or less
not applicable
not applicable
not applicable
above $88,000 up to $412,000
above $412,000
You Pay Each Month (2021)
$148.50
$207.90
$297.00
$386.10
$475.20
$504.90
Medicare Part B Coverage
Covered
Physician services & outpatient care
Durable Medical Equipment
Preventative Services
Physical Therapy
Physician administered drugs
Not Covered
Routine vision or hearing
Glasses or hearing aids
Alternative healthcare
Routine chiropractic care
Prescription Drugs
Dental
Limitations
Covers glasses only after cataract surgery.
No coverage for custodial care.
No coverage outside of the United States.
Providers must be accepting new Medicare patients.