14.5.2: Part B
Because Part A is only for inpatient care (aka staying in a hospital or skilled nursing facility), Medicare Part B was created to cover doctors visits and other medical needs such as the purchase of medical equipment. For 2024, the deductible for Part B is $240, after which patients pay a 20% coinsurance for the remaining expenses (Humana, 2023). It is important to note that Medicare also sets reimbursement rates for doctors. Doctors can either participate in accepting Medicare or non-participating practitioners may charge patients at the time of service. Then, either the doctor or the patient can submit a claim to medicare to get reimbursed. Non-participating doctors cannot charge over 15% higher prices than what Medicare has approved for a service (Medicare.gov, n.d.).