Medicare Part B
The part of Medicare covering doctor visits and outpatient care, paid for with a monthly premium.
Medicare Part B covers outpatient care: doctor visits, preventive services, lab tests, and durable medical equipment. Unlike Part A (hospital coverage, usually premium-free), Part B charges a monthly premium that most people have deducted from their Social Security check, plus deductibles and coinsurance.
The Part B premium is where IRMAA surcharges apply — higher earners pay more based on their income from two years prior. Part B is a core ongoing retirement cost, and combined with a Part D drug plan and a Medigap supplement, it forms the realistic monthly healthcare expense retirees should budget for rather than assuming Medicare is free.
This definition is general information to help you understand a term, not financial, tax, or legal advice. Figures that change year to year (limits, thresholds, rates) should be confirmed against current official sources. For guidance on your situation, a licensed fee-only fiduciary is the right next step.