Unlike Medicare Part A, which covers inpatient care in a hospital, skilled nursing or hospice facility, Part B covers through outpatient care, services from doctors and other providers, durable medical equipment and many preventative screenings.
- Individuals already receiving Social Security benefits are automatically enrolled in Parts A and B effective the first day of the month you turn 65.
- At age 65, individuals choosing to delay their Social Security benefit need to contact Social Security, online or your local office, to activate Parts A and B.
- Individuals receiving Social Security Disability benefits are automatically enrolled in Parts A and B after 24 months.
- At age 65, those covered through their individual or spouse’s currently employed group health plan (20 or more employees) may delay Part B WITHOUT PENALTY until they, or their spouse, are no longer employed and the employer coverage ends.
- The standard Part B premium amount in 2023 is $164.90.
- Paying the Part B premium
- If you receive Social Security benefits, your Part B premium (and the IRMAA adjustment, if applicable) will be deducted from your monthly Social Security payment.
- If, like me, you are enrolled in Medicare Parts A and B and have deferred the Social Security benefit, Medicare sends a bill (sample below) for the Part B premium and, if applicable, any IRMAA adjustment, which can be paid by check or online.