Medicare Part B – Medical Insurance

Medicare Part B covers a portion of:

Part B coverage is optional. If you or your spouse is still working and covered by your employer group health plan, you may not need this part of Medicare until you or your spouse retires. Learn more.

The Medicare Part B premium ($99.90 in 2012) is automatically deducted from your Social Security check every month. If you don’t receive Social Security benefits, you will be billed for Part B. People with higher incomes (individuals with annual incomes over $85,000 and couples with incomes over $170,000) will pay higher Part B premiums. See table below.

For the last 2 years, the majority of Medicare beneficiaries paid $96.40. Beneficiaries who became eligible in 2010 paid $110.50 and those newly eligible in 2011 paid $115.40. Because there is a 3.6% increase in cost of living adjustment (COLA) in Social Security benefits for 2012, all Medicare beneficiaries pay at least $99.90 for this year’s Part B premium.

2012 Part B Premiums & Deductibles

The chart below lists the Part B premiums and deductibles. For a comprehensive list of both Part A and Part B costs, see our summary chart, Medicare Benefits & Cost-Sharing for 2012.

See also:

• Medicare Part A
• Enrolling in Medicare Parts A and B
• Chart on Medicare Benefits and Cost-Sharing