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Medicare Part B covers medically-necessary services and some preventive services that aren’t covered by Medicare Part A. If you enroll in Part B, Medicare will pay 80% of the “reasonable charge” for covered services after you’ve met the deductible for that year. You are responsible for paying the other 20% (co-insurance).

Medicare Part B provides 80% coverage for most outpatient services. Among the many illnesses and conditions covered, cancer is a disease which most Americans want to insure against. Medicare’s cancer coverage is thorough and will pay for treatment for most types of cancer. However, the insured individual is responsible for 20% of the cost of the most common treatments, such as chemotherapy and radiation. For this reason, many people purchase a medicare supplement to help them pay this share of their treatment costs.

Medicare became the law of the United States in 1965 under the presidency of Lyndon Johnson. It originated as an amendment to the Social Security Act. The first part of the coverage consisted of two sections, Parts A and B. Hospital stays and associated costs were paid under Part A while Part B paid for medical expenses originating from outpatient care. Although 45 million people were enrolled in the program in 2008, the growth by the year 2030 will be dramatic, rising to 78 million under current projections.

In 1965 the original Medicare program was passed. Medicare had two parts then. Stays in a hospital for more than 72 hours were covered by Part A. Other medical insurance coverage costs were covered in Part B. Further down the road Part C and Part D were added to cover other health costs.