Medicare Part B for you in South Carolina.

Medicare Part B covers a long list of medical services including doctor’s visits, medical equipment, outpatient care, outpatient procedures, the purchase of blood, mammograms, cardiac rehabilitation, and cancer treatment.

Part B covers medical treatments outside of hospitals.

Medicare Part B has an annual premium that is dependent on the recipient’s income and Social Security benefits. Recipients also pay a deductible and coinsurance.

What you should know about enrollment.

You’re required to enroll in Part B if you don’t have creditable coverage from another source, such as an employer or spouse’s employer. With Part B, you pay a monthly premium. In 2020, the cost was $144.60. If you’re on Social Security, this will be deducted from your monthly payment. If you don’t enroll and you don’t have creditable coverage from another source, you may have to pay the penalty.

What you can expect to pay.

The deductible for Part B is $198. Once you meet the deductible, you pay 20% of the Medicare-approved cost of the service, provided your healthcare provider accepts Medicare assignment. Beware: There is no cap on your 20% out-of-pocket expense.

What are the eligibility requirements?

To be eligible for Medicare Part B, you must be a U.S. citizen or a permanent legal resident for at least five consecutive years. You must also meet at least one of the following criteria for Medicare eligibility:

1. Be over age 65 and eligible for Social Security.
   You may be automatically enrolled in Medicare Part A (hospital insurance) when you reach age 65 and become eligible for Social Security. Further, if you are already getting benefits from Social Security or the railroad retirement board (RRB), you will automatically get Part A and Part B starting the first day of the month you turn 65. If you’re not receiving retirement benefits from Social Security or the RRB (for instance, because you’re still working), you must sign up for Medicare Part B when you meet the age requirement, as your enrollment isn’t automatic.
2. Be permanently disabled and receive disability benefits for at least two years.
   You automatically get Part A and Part B after you get disability benefits from Social Security for 24 months or certain disability benefits for 24 months, then you qualify for a Part C in South Carolina.
3. Have end-stage renal disease (ESRD) (permanent kidney failure that requires dialysis treatment or a kidney transplant):
   You need to sign up for Medicare, as your enrollment isn’t automatic.

Medicare insurance can be a complicated issue, so please contact us today if you would like to talk through your options.

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