Full Definition

Medicare Part B covers outpatient medical care: physician office visits, outpatient hospital services (including same-day surgery), preventive services (annual wellness visits, screenings), durable medical equipment (wheelchairs, walkers, hospital beds, oxygen equipment), laboratory tests, outpatient mental health services, outpatient rehabilitation (physical, occupational, and speech therapy), and qualifying home health care.

Beneficiaries pay a monthly premium (~$174.70/month in 2024 for most enrollees, higher for higher-income beneficiaries through IRMAA), an annual deductible (~$240 in 2024), and 20% coinsurance for most services after the deductible. There is no out-of-pocket maximum for Original Medicare Part B costs, which is why Medigap or Medicare Advantage coverage is important for high-utilizing beneficiaries.

Part B enrollment is automatic for most Medicare-eligible individuals who receive Social Security benefits.