Medicare Part B is a component of the federal government's Medicare program that covers medically necessary services and preventive services. It helps pay for doctor's services, outpatient care, durable medical equipment, and other medical services. Medicare Part B also covers some preventive services to help maintain your health and to keep certain illnesses from getting worse. These services include flu shots, cardiovascular screenings, and diabetes screenings. Medicare Part B is optional and comes with a monthly premium. The standard premium amount for Medicare Part B in 2024 is $170.10. However, the premium may be higher based on your income. In addition to the premium, there is also a yearly deductible for Medicare Part B. After the deductible is met, Medicare Part B typically pays 80% of the Medicare-approved amount for covered services, leaving you responsible for the remaining 20%. It's important to note that Medicare Part B does not cover everything, so it's essential to understand what is and isn't covered. For example, it doesn't cover long-term care, dental care, eye exams related to prescribing glasses, dentures, cosmetic surgery, acupuncture, hearing aids, and exams for fitting hearing aids. It's crucial for individuals approaching Medicare eligibility to carefully consider their healthcare needs and the coverage provided by Medicare Part B to make informed decisions about their healthcare coverage.