While most beneficiaries pay a standard premium for Medicare Part B coverage, there may be other costs and fees associated with Part B, including: • Monthly Premium: Most beneficiaries pay a monthly premium for Medicare Part B coverage, which is determined based on their income. Higher-income beneficiaries may pay an Income-Related Monthly Adjustment Amount (IRMAA) in addition to the standard premium. • Annual Deductible: Beneficiaries are responsible for paying an annual deductible before Medicare Part B coverage begins. • Coinsurance and Copayments: After the deductible is met, beneficiaries typically pay a coinsurance or copayment for covered services and supplies, usually 20% of the Medicare-approved amount. Understanding these costs and fees associated with Medicare Part B is essential for beneficiaries to budget and plan for their healthcare expenses effectively. 3.3 Costs and Fees Chapter 3: Medicare Part B - Medical Insurance 202404PMED1MDSIMPLE 10 www.Postal-Service-Health-Benefits-Program.com
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