Are you aware of the coverage you will forego if you decline Part B? I’m not interested in selling you on this insurance coverage but your apparent decision to go without makes me wonder if you are aware of the additional financial risk you wii take on if you act on this.
Here’s a brief summary in case you don’t know.
What Does Medicare Part B Cover?
Medicare Part B coverage provides you access to a variety of outpatient medical services. Part B covers preventive care including flu shots, colonoscopies, mammograms and more. It covers ordinary outpatient things like doctor’s visits, lab testing, home health care, ambulance rides, and some chiropractic care too.
However, Medicare Part B also covers more expensive services that sometimes occur in the hospital. This includes things like radiation or chemotherapy for cancer, surgeries, diagnostic imaging, medical equipment, and even dialysis for failing kidneys. Part B will also pay for drugs administered in a clinical setting, such as osteoporosis injections, infused drugs, antigens, and insulin that is used with an insulin pump.
Medicare’s current Part B monthly premium is about $130. I apologize if you’ve already considered all this and made the best decision for you.
Good luck with your retirement planning.