Medicare Part B Insurance Companies at a Glance
Medicare Part B is the medical insurance piece of Original Medicare, covering doctor visits, outpatient care, preventive services, and durable medical equipment. While Original Medicare itself is run by the federal government, private insurance companies also offer Medicare Advantage (Part C) and Medicare Supplement (Medigap) plans that include or wrap around Part B benefits. Understanding how these companies work with Part B helps beneficiaries choose the right coverage for their needs.
- Medicare Part B Insurance Companies at a Glance
- How Medicare Part B Works with Private Companies
- What Medicare Part B Covers Through Insurance Companies
- Major Insurance Companies Offering Medicare Part B Coverage
- Costs and Premiums for Part B Through Private Plans
- How to Choose the Right Medicare Part B Insurance Company
More from this site
Keep reading the latest coverage
How Medicare Part B Works with Private Companies
Original Medicare (Parts A and B) pays for covered services directly, but it does not operate through private insurance companies. Instead, private insurers enter the Medicare program through specific plan types:
- Medicare Advantage (Part C): Private companies contract with Medicare to deliver all Part A and Part B benefits, often with extra coverage like vision, dental, and hearing.
- Medigap (Medicare Supplement): Private insurers sell policies that help pay some of the out-of-pocket costs Original Medicare leaves behind, such as copayments and deductibles.
- Part D Prescription Drug Plans: Private companies offer standalone drug coverage that works alongside Original Medicare, including Part B-related outpatient drugs.
When a beneficiary enrolls in a Medicare Advantage plan, the private insurer becomes the primary payer for Part B-covered services, replacing Original Medicare's role for those benefits.
What Medicare Part B Covers Through Insurance Companies
Part B benefits are standardized across Medicare, but the way they are delivered and billed can differ depending on the plan type. Core Part B coverage includes:
- Doctor and specialist visits
- Outpatient hospital services
- Preventive care, including screenings and vaccines
- Durable medical equipment such as wheelchairs and oxygen
- Ambulance services
- Certain mental health services, including partial hospitalization
In a Medicare Advantage plan, the private insurance company administers these benefits and may add extras. In Original Medicare with a Medigap policy, the insurance company helps cover the deductibles, coinsurance, and copayments that Part B normally requires the beneficiary to pay.
Major Insurance Companies Offering Medicare Part B Coverage
Many national and regional insurance companies participate in the Medicare program. The following table lists common plan types and the kinds of companies that offer them.
| Plan Type | Who Offers It | Part B Role |
|---|---|---|
| Medicare Advantage (Part C) | Private insurers such as UnitedHealthcare, Humana, Aetna, Cigna, Kaiser Permanente, Blue Cross Blue Shield affiliates | Replaces Original Medicare Part B; private company delivers and manages benefits |
| Medigap (Supplement) | Private insurers such as AARP/UnitedHealthcare, Blue Cross Blue Shield, Aetna, Cigna, Humana, Mutual of Omaha | Private company pays some Part B cost-sharing; Original Medicare remains the primary payer |
| Part D Drug Plans | Private insurers such as SilverScript, Express Scripts, Humana, UnitedHealthcare, Aetna | Covers prescription drugs, including those administered in outpatient (Part B) settings |
Availability varies by county and state. Not every company offers every plan type in every area, and the specific network of doctors and hospitals can differ widely between insurers.
Costs and Premiums for Part B Through Private Plans
Original Medicare Part B has a standard monthly premium set by Congress, and most beneficiaries pay the standard amount. Medicare Advantage and Medigap plans from private insurance companies may charge their own premiums on top of the Part B premium. In Medicare Advantage, the private insurer may offer a $0 monthly premium, but the beneficiary still pays the Part B premium. Medigap premiums vary by company, location, age, and plan type.
Cost-sharing also differs. Medicare Advantage plans typically use copays and deductibles, while Medigap plans help cover the coinsurance and deductibles that Original Medicare charges. Understanding these costs is essential when comparing Part B coverage options through private companies.
How to Choose the Right Medicare Part B Insurance Company
When selecting a plan, consider the following factors:
- Network: Does the plan include your current doctors and hospitals?
- Premiums and out-of-pocket costs: What is the total monthly cost and what services require extra payment?
- Extra benefits: Does the plan offer dental, vision, hearing, or fitness benefits beyond standard Part B?
- Prescription drug coverage: Is a Part D plan bundled or needed separately?
- Travel coverage: Do you need coverage outside your local area or internationally?
Beneficiaries can compare plans each year during the Medicare Open Enrollment period, using the Medicare Plan Finder tool or by contacting private insurers directly. Enrollment in a Medicare Advantage plan generally requires being enrolled in both Part A and Part B, and paying the Part B premium continues regardless of the plan chosen.