Part B Doctor Coverage

Part B Monthly Premium Table

File individual tax return w/ income* File Joint Tax Return w/ income* File married & separate tax return* 2020 Part B Monthly Adjustment 2020 Total Monthly Part B Premium
Less than or equal to $87,000 Less than or equal to $174,000 Less than or equal to $87,000 $0.00 $144.60
Greater than $87,000 but less than $109,000 Greater than $174,000 but less than $218,000 n/a $57.80 $202.40
Greater than $109,000 but less than $136,000 Greater than $218,000 but less than $272,000 n/a $144.60 $289.20
Greater than $136,000 and less than $163,000 Greater than $272,000 but less than $326,000 n/a $231.40 $376.00
Greater than $163,000 and less than $500,000 Greater than $326,000 but less than $750,000 Greater than $87,000 but less than $413,000 $318.10 $462.70
Greater than $500,000 Greater than $750,000 Greater than $413,000 $347.00 $491.60

*Based off 2018 tax return filed

Part B Late Enrollment Penalty

If you don’t sign up for Part B when you’re first eligible, you’ll have to pay a late enrollment penalty. You’ll have to pay this penalty for as long as you have Part B. Your monthly premium for Part B may go up 10% for each full 12-month period that you could have had Part B, but didn’t sign up for it. Also, you may have to wait until the General Enrollment Period (from January 1 to March 31) to enroll in Part B. Coverage will start July 1 of that year.

Part B covers:

  • Medical Expenses
    • Physicians’ services
    • Inpatient and outpatient medical and surgical services and supplies
    • Physical and speech therapy
    • Diagnostic tests
    • Durable medical equipment
  • Laboratory Services
  • Home Health Care
Services: Part B Coverage Medicare Pays In 2020 You Pay
Medical Expenses 80% of approved amounts, after $198 Deductible $198 Annual Deductible, 20% of approved amounts
Clinical Laboratory Services 100% of approved amounts $0
Home Health Care 100% of approved amounts $0

For more information click here or call (866) 994-2338.

Data from Medicare.gov