Part B

Definition. Medicare Part B is medical insurance. It covers doctor visits, outpatient care, preventive services, lab tests, mental health care and durable medical equipment. In 2026 most people pay a $202.90 monthly premium and a $283 yearly deductible, then generally 20% of the Medicare-approved amount.

What it means

Part B covers most care outside a hospital stay. After the yearly deductible ($283 in 2026), Original Medicare generally pays 80% of the Medicare-approved amount and you, or a Medigap policy, pay 20%. Many preventive services cost you nothing when your provider accepts Medicare's approved amount.

The premium is usually taken from your Social Security benefit. People whose income two years earlier was above $109,000 (single) or $218,000 (married filing jointly) pay more under IRMAA. If you sign up late without other job-based coverage from current work, your premium can go up 10% for each full 12 months you could have had Part B, usually for as long as you have it.

In Oregon

If you have job-based coverage from your own or your spouse's current work when you turn 65, you may be able to delay Part B and sign up later with a Special Enrollment Period. Oregon's public retiree plans are different: PEBB and OEBB retiree medical coverage ends when you become eligible for Medicare, and the PERS Retirement Health Insurance Account subsidy requires both Part A and Part B. See the Part B Special Enrollment Period guide, PEBB and Medicare and the Part B enrollment decision tool.