Medicare Part B covers Medical routine health services:

 

• Doctor office visits

• Lab work

• Radiology

 

Medicare Part B does have a monthly premium. Most people will pay the standard premium amount. If your modified adjusted gross income is above a certain amount, you may pay an Income Related Monthly Adjustment Amount (IRMAA). Medicare uses the modified adjusted gross income reported on your IRS tax return from 2 years ago. This is the most recent tax return information provided to Social Security by the IRS. 

 

Your Part B premium will be automatically deducted from your benefit payment:

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• Social Security

• Railroad Retirement Board

• Office of Personnel Management

 

If none of the above apply to you, you'll receive a bill in the mail.

 

If you do not sign up for Part B when you are first eligible, you may have to pay a late enrollment penalty.

 

Beneficiaries pay a yearly Medicare Part B deductible. After your deductible is met, you pay 20% of the Medicare-approved amount for most doctor services, outpatient therapy and durable medical equipment.