Medicare Part B – Medical Insurance
Part B pays for doctors' services, outpatient hospital care, outpatient physical and speech therapy, some home health care, ambulance services, and some medical equipment and supplies.
Part B coverage is optional. If you or your spouse is still working and you are covered by your employer group health plan, you may not need this part of Medicare until you or your spouse retires. See our section “Coverage while working” for more information.
The standard monthly premium ($96.40 in 2008) 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.
Note that people with higher incomes will pay higher Part B premiums. The $96.40 Part B premium is the ‘standard’ amount for 2008 for individuals with annual incomes less than $82,000 and couples with incomes less than $164,000. See the chart summary for the higher premium amounts.
2008 Premiums, Co-insurance & Deductibles (Original Fee-for-Service Medicare)
| For 2008 | For 2007 | |
|---|---|---|
| Annual Deductible | $135.00 | $131.00 |
| Monthly Premium: This is the amount of the monthly Part B premium for individuals who have an annual income ≤$82,000, or ≤$164,000 for couples | $96.40 | $93.50 |
| For individuals with incomes >$82,000 and ≤$102,000, or couples with incomes >$164,000 and ≤$204,000 | $122.20 | $106.00 |
| For individuals with incomes >$102,000 and ≤$153,000, or couples with incomes >$204,000 and ≤$306,000 | $160.90 | $124.70 |
| For individuals with incomes >$153,000 and ≤$205,000, or couples with incomes > $306,000 and ≤$410,000 | $199.70 | $143.40 |
| For individuals with incomes >$205,000, or couples with incomes greater than >$410,000. | $238.40 | $162.10 |
See also information on:
Page updated July 24, 2008
