Monday, July 13, 2009

What Is Medicare Plan B

President Lyndon Johnson created the Medicare system in the United States in 1965. The program was designed to meet the health care needs of retired Americans. Medicare Part B is one part of this program.


Medicare A Vs. Medicare B


Medicare consists of two main parts: A and B. Part A covers hospitalization and most inpatient care needs. Part B covers doctor visits, outpatient services and services such as physical therapy deemed necessary.








Eligibility


To apply for Medicare Part B, you need to meet three criteria. First, you must be a citizen or permanent resident of the United States. Second, you must have worked at least 10 years in a profession where you paid into the system through payroll taxes. Finally, you need to be at least 65 or be disabled or have end-stage renal failure.


Enrollment


Although enrollment into Part A is automatic at age 65 for most Americans, you must enroll in Part B voluntarily. The enrollment period begins three months before your 65th birthday and lasts for four more months following that date.


Cost of Premiums


While Part A does not cost anything, you will need to pay premiums for Part B. In 2010, the premiums average $96.40 per month for individuals earning less than $85,000 and a little more than $110 for people who earn higher than that.


Excluded Services


Medicare Part B does not cover some services, including prescription drugs, eye exams and corrective eye wear, hearing aids, dental services, immunizations and podiatry.

Tags: Medicare Part, care needs, Medicare Medicare, Part covers, Part does, United States