Medicare in Wyoming Series: Part B
- Jobe Horsley
- Mar 24
- 3 min read
What is Medicare Part B?
Medicare Part B is one of four parts of Medicare, and Part B will be the focus of this article in our Medicare in Wyoming series.
Medicare Part B was created in 1965 with Lyndon B. Johnson signing it into law. It officially started on July 1, 1966, and was known as Original Medicare. Original Medicare includes Part A alongside Part B.
Medicare Part B is known as a fee-for-service plan, which means that healthcare providers are paid directly for each service they provide. Medicare Part B is optional, but postponing your Part B could result in late enrollment penalties.
How much does Medicare Part B cost?
Unlike Part A, most people will pay a premium for Medicare Part B in Wyoming. The standard monthly premium for Part B in 2025 is $185. When you enroll in Part B, Social Security will inform you of the exact amount you will need to pay. In 2025, the estimated amount of individuals paying the standard Part B rate is 92%. The other 8% may have to pay more based on their income-related monthly adjustment amount (IRMAA), or others may pay less if they qualify for a Medicare Savings Program.
There is a late enrollment penalty that you could receive with Part B if you decide to delay your Part B and not have any creditable coverage. If you receive a late enrollment penalty, you will pay an extra 10% for each 12 months you could have signed up for Part B and did not. This late enrollment penalty is added to your monthly premium and is a lifetime penalty as long as you have Part B. Do your best to avoid this penalty!
How do I Know if I have Part B
The easiest way to know if you have Part B and when it starts is to just look at your Medicare card. On the bottom of your card, it will say Medical (Part B), and then to the left of that, it will have your start date.
If you don't have your Medicare card yet, you can also log onto your Social Security account online and look up your "Benefit Verification Letter," which will show your start dates for Part A and B. Also, you can call 1-800-MEDICARE (1-800-633-4227) and speak to a representative to tell you your start dates.
What does Part B Cover in Wyoming
You will most likely use Medicare Part B more than Part A. Part B covers many services like doctor and specialist visits. It also covers outpatient services and outpatient surgeries as well. Since Part B comes with a premium, I have many people ask me if they really need to get Part B. In my opinion, this is the most important part of Medicare, and I would always highly recommend getting Part B.
Medicare in Wyoming Series Part B Will Continue
We will go over what Part B actually covers in more detail and find out about the Part B deductible as well in our next article. If you missed any of our other articles in this series, I have linked them below.
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