Costs for Part B services include a monthly premium, a yearly deductible and coinsurance or copayments for health services. While there are different costs for Part B services with Original Medicare or a Medicare health plans, most people will pay the standard premium amount every month. However, if income as reported on tax return is above a certain amount, the premium may be higher. Social Security will notify participants regarding premium rates. If participants have limited income and resources, a state may help pay costs for Medicare Part A and/or Part B. Contact the State Medicaid office and ask for information about the Medicare Savings Programs.
Participants pay full cost for Medicare Part B services until the yearly deductible is met. Then payment for Medicare Part B services is 20% of the Medicare-approved amount for the service, if the doctors or providers agree to accept assignment.