Do I Really Need Medicare Part B?

Do I Really Need Medicare Part B?
Medicare Medicare Supplement Medicare Part D

Your situation will determine whether or not you need or should begin Medicare Part B when you turn 65. Some plans require you to enroll in Medicare Part B, and you could be penalized if you don't do so within the required timeframe.


What Should I Know About Medicare Part B?


Outpatient medical treatments, such as your medicare yearly wellness visit, are covered by Medicare Part B. Medicare Part A and Part B together are known as Original Medicare, and it pays up to 80% of these expenditures on average, preventing you from having to pay the majority of your bill out of pocket. In 2021, the average Medicare Part B premium will be $148.50.

The majority of people become eligible for Medicare Part B on the first day of the month they turn 65. If your birth date is March 17th, for example, you will be eligible for Medicare on March 1st. You have seven months to apply, beginning three months before and ending three months after your birth month. You'll be automatically enrolled if you get Social Security benefits. By contacting the Social Security Administration directly, you can sign up for or postpone your Part B.


Also Read: Not Yet 65, Can I Qualify for Medicare by Disability?


When Do You Need Medicare Part B?


Medicare Part B isn't required by law, and you may not need it in some circumstances. In general, you can postpone Part B without penalty if you're qualified for Medicare and have creditable coverage. Employment insurance provided to you or your spouse qualifies as creditable coverage. Learn more: How to Transition from Employer-Based Insurance

If you only have VA coverage, your place of employment has less than 20 employees, or you're enrolled in a cost-sharing scheme rather than regular health insurance, you won't be able to postpone Part B without paying fines.


Also Read: Are Veterans Required to Enroll in Medicare?



In order to participate in the following plans, you must also have Medicare Part B:


Although you don't need Medicare Part B to enroll in a Medicare Supplement plan, your supplement won't pay any of your outpatient costs if you don't have it. In the end, having a Medicare Supplement plan without Medicare Part B is unlikely to be cost-effective, and it isn't recommended.


Do I Really Need Medicare Part B?


What is the Late Enrollment Penalty for Medicare Part B?


You'll pay a 10% penalty fee on top of your usual payment for every 12 months you were supposed to be enrolled but weren't. If you pay the average Part B Premium in 2021 but sign up one year late, you'll pay $163.44 per month instead of $148.50.

You won't be able to start coverage whenever you choose, in addition to paying a cash penalty. You'll have to wait until the General Enrollment Period, which runs from January 1st to March 31st, to apply for Part B, and coverage won't start until July 1st.


Why Should I Put Off Taking My Part B if I Have Creditable Coverage?


When you enroll in Medicare Part B, you will be given a special election period during which you can make changes to your coverage outside of the regular enrollment periods.

When you start Part B, you have the option of:


  • Choosing a Medicare Supplement plan with no danger of being denied

  • Choosing a Medicare Part D Prescription Drug plan

  • Choosing a Medicare Advantage plan rather than Original Medicare


If this term ends while you're still covered by your employer's insurance, for example, the transition to Medicare may be more challenging. These are critical rights that ensure your insurance coverage is complete.



Whether you're ready to enroll in Medicare or are considering other options, it's critical that you plan ahead. Starting Medicare Part B at the correct moment will help you get the best health coverage for the least money.

Nothing on this website should ever be considered as a substitute for medical advice from a qualified expert. Always consult your medical provider before beginning any exercise or nutritional plan, as well as before receiving a diagnosis or treatment for a health problem, including decisions about the proper medicine for your condition.


Learn More About Medicare Part D

CALL (844) 731-6614



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