Medicare Part B Fact Sheet
What is Medicare Part B?
Medicare Part B is medical insurance. It helps cover doctor visits, outpatient care, preventive services, and durable medical equipment.
What Part B Covers
Doctor’s visits
Outpatient services
Preventive care (screenings, vaccines, etc.)
Lab tests and imaging
Durable medical equipment
Costs (2024)
Standard premium: $174.70/month (higher if income-based surcharges apply)
Deductible: $240 per year
Coinsurance: 20% for most services after deductible
Penalties
If you delay enrolling in Part B (without creditable coverage), your monthly premium goes up 10% for each full 12-month period you could have had Part B but didn’t enroll. This penalty is permanent.
