Colorado Medicare Part B

Colorado Medicare Part BAnyone who is eligible for $0 Premium Medicare Part A is eligible for Medicare Part B by enrolling and paying a monthly premium. Medicare Part B premiums may change from year to year and may be higher if your income is above a certain amount. Like Medicare Part A, you may be subject to a Late Enrollment Penalty Fee if you do not enroll during your Initial Enrollment Period.

Medical Expenses

Medicare Part B Covered Medical Expenses

Medicare Part B provides coverage for the following medical expenses:

  • Doctor services
  • Inpatient and outpatient medical and surgical services, and supplies
  • Physical and speech therapy
  • Diagnostic tests
  • Durable medical equipment and other services

Your cost out of pocket for these medical expenses is 20% of costs, plus a once-a-year deductible of $183 (2019).

Clinical Laboratory Test
Home Health Care*
Outpatient Hospital

Eligibility for Medicare Part B

Anyone who is eligible for premium-free Medicare Part A is eligible for Medicare Part B by enrolling and paying a monthly premium. If you are not eligible for premium-free Medicare Part A, you can qualify for Medicare Part B by meeting the following requirements:

  • You must be 65 years or older.
  • You must be a U.S. citizen, or a permanent resident lawfully residing in the U.S for at least five continuous years.

When to enroll in Medicare Part B

Unless you are receiving retirement benefits before age 65 or qualify for Medicare through disability, you will need to sign up for Medicare Part B during your Initial Enrollment Period (IEP). This is the seven-month enrollment period that begins three months before you turn 65, includes the month you turn 65 and ends three months later. Your Medicare coverage start date will depend on which month you signed up during initial enrollment. If you have health coverage through an employer health plan, you may choose to delay enrollment, since Medicare Part B comes with a monthly premium.

Need to Enroll in Medicare Part B, go to SSA to enroll. Click Here

Delaying Medicare Part B enrollment

Most people get Medicare Part A premium-free (as long as they have worked 40 quarters or more) but most people have to pay a monthly premium for Medicare Part B. Because Medicare Part B has a monthly premium, some people may choose not to sign up during their initial enrollment period if they are currently covered under an employer group plan (either their own or through their spouse's employer).  You c an do this only if your current coverage is considered Creditable Coverage.

If you are still working, you should check with your health benefits administrator to see how your insurance would work with Medicare.  If you delay enrollment in Medicare Part B because you already have current employer health coverage, you can sign up later during a Special Enrollment Period without paying a late penalty.  You can enroll in Medicare Part B at any time that you are still covered by a group plan based on current employment.  Once your employer health coverage ends, you have an eight-month special enrollment period to sign up for Part B without a late penalty.

Keep in mind that retiree coverage and COBRA are not considered health coverage based on current employment and would not qualify you for a special enrollment period.  If you have COBRA after your employer coverage ends, you should not wait until your COBRA coverage ends to sign up for Medicare Part B.  Your eight-month Part B special enrollment period begins immediately after your current employment or group plan ends (whichever comes first).  This is regardless of whether you get COBRA.

Colorado Medicare Part B

If you're in 1 of these 5 groups, here's what you'll pay (2018):

If your yearly income in 2015 (for what you pay in 2017) was You pay each month (in 2017)
File individual tax return File joint tax return File married & separate tax return
$85,000 or less $170,000 or less $85,000 or less $134
above $85,000 up to $107,000 above $170,000 up to $214,000 Not applicable $187.50
above $107,000 up to $160,000 above $214,000 up to $320,000 Not applicable $267.90
above $160,000 up to $214,000 above $320,000 up to $428,000 above $85,000 and up to $129,000 $348.30
above $214,000 above $428,000 above $129,000 $428.60

Get more information about your Part B premium from Social Security [PDF, 341 KB].

Request a Personalized Plan Recommendation

Request a Local Licensed Insurance Professioal to contact you to craft a Personalized Insurance Comparison.  Call us at 844-252-6400 or Click the Button on the right.