Medicare

Medicare Part B

Medicare Part B charges a monthly premium — $202.90 in 2026 for most beneficiaries — and covers the outpatient medical services that Part A does not.

Last reviewed: May 2026 · Editorial methodology

Definition

Medicare Part B is the outpatient medical insurance component of Original Medicare. It covers physician visits, outpatient hospital services, preventive care (including an annual wellness visit and many screenings at no cost-sharing), ambulance services, mental health outpatient care, durable medical equipment (DME), and certain home health services. The standard 2026 Part B monthly premium is $202.90, though higher-income beneficiaries pay more through the Income-Related Monthly Adjustment Amount (IRMAA). The 2026 annual Part B deductible is $283, after which Medicare typically pays 80% of approved amounts and the beneficiary pays the remaining 20% coinsurance with no cap — a significant financial exposure without supplemental coverage. Part B enrollment is automatic for those receiving Social Security, but those not yet collecting must actively enroll during their Initial Enrollment Period to avoid late enrollment penalties. Delaying Part B enrollment without qualifying employer coverage results in a 10% premium surcharge for each 12-month period of delay, which is permanent.

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Tip

Glossary definitions are educational. Always check your own policy language — insurers can define common terms differently from one another. When in doubt, request a written explanation from your agent.

Related terms

Medicare Part AMedicare Part A is premium-free for most beneficiaries and covers inpatient care, but comes with significant cost-sharing including a per-benefit-period deductible.Medicare Part C (Medicare Advantage)Medicare Advantage plans deliver all Original Medicare benefits through private insurers and frequently include prescription drug coverage, dental, vision, and hearing benefits.Original MedicareOriginal Medicare provides broad provider access nationwide with no referrals required but lacks an out-of-pocket maximum, making supplemental coverage important.IRMAA (Income-Related Monthly Adjustment Amount)IRMAA requires higher-income Medicare beneficiaries to pay surcharges on top of standard Part B and Part D premiums, with the amount based on income reported two years earlier.MedigapPrivate Medicare supplement insurance that fills gaps in Original Medicare's coverage.Initial Enrollment Period (IEP)Your IEP spans three months before, the month of, and three months after your 65th birthday — missing it can result in permanent late enrollment penalties.

Related guides

Source: Cover Forge USA editorial team|Last verified: May 2026|Methodology
Definitions are educational and may be simplified. Always refer to your policy contract and consult a licensed agent for terms that affect coverage decisions.
CF

Cover Forge USA Editorial Team

Editorial Lead

This article was researched and written by the Cover Forge USA editorial team against federal sources (NAIC, CMS, FEMA, DOL, SSA, state DOIs) and standard policy forms. Bylines organize content by topic — they do not assert individual licensure. See our editorial-policy for details.

Reviewed June 2026

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