What Part B covers
- Doctor visits (primary care and specialists).
- Preventive care like flu shots and screenings.
- Outpatient surgery and procedures.
- Durable medical equipment (wheelchairs, walkers, oxygen).
- Laboratory services and X-rays.
- Ambulance services (in qualifying situations).
- Annual wellness visits.
What Part B costs
Part B costs to know
- Monthly premium: $202.90 for most people in 2026. Higher earners pay more (see IRMAA below).
- Annual deductible: $283 per year.
- Coinsurance: after the deductible, you typically pay 20% of the Medicare-approved amount for most services.
Figures for reference. Confirm at medicare.gov.
Late enrollment penalties
If you don't sign up for Part B when you're first eligible and you don't have other creditable coverage (like an active employer plan), you may pay a 10% premium penalty for every 12-month period you delayed — and that penalty lasts as long as you have Part B. Timing matters.
What is IRMAA?
IRMAA stands for the Income-Related Monthly Adjustment Amount. In plain English: if your reported income is above certain thresholds, you'll pay a higher Part B (and Part D) premium. The Social Security Administration determines this based on your tax return from two years ago. Scott can help you understand whether IRMAA applies to you and how to plan for it.