4 Parts Of Medicare Essay

Medicare is a federally governed insurance program, primarily serving Americans over the age of 65, younger disabled meeting specific disability criteria, and dialysis

The Social Security Act of 1965 established Medicare and Medicaid which are health insurance programs for the poor and elderly people of the United States. It is funded by a tax on the earnings of employees and contributions by the employers. “It is now broadly apparent that those who opposed Social Security in 1935 and Medicare in 1965 were wrong in their fears…” (Nicholas Kristof  “The Wrong Side of History”).

Medicare is the federal health insurance program for people with certain disabilities, end stage renal disease, and for those who are over the age of 65. There are four different parts to Medicare, part A, part B, part C, and part D. Medicare Part A, also known as hospital insurance, covers inpatient hospital stays, care in nursing facilities, hospice care, and some in home health care. Part B is often referred to as medical insurance; it covers certain doctors’ services, outpatient care, medical supplies, and preventative care services. Medicare Part C, otherwise known as Medicare advantage plan is offered by a private

Medicare is provided by the government as a means of offering health insurance to those 65 years and older. If you have a Medicare plan, yours will be one of various plans offered that will cover certain things. Below is basic information on the four main plans and what they cover, so you know what you can expect to get.

Medicare provides federal health insurance coverage to millions of elderly, and disabled Americans. As of 2015 data by the Kaiser Family Foundation, Medicare covers 55 million people. Medicare covers people age 65 and older, people younger than 65 with certain disabilities, and people of all ages with End-Stage Renal Disease, or amyotrophic lateral sclerosis (Medicare, 2015). Medicare consists of several different components, including: Part A, Part B, Part C, and Part D. This Federal health insurance program, Medicare, is financed by several sources, including taxes, revenue, and premiums. Each part of Medicare has different eligibility requirements and provides different benefits, and covered services.

Medicare is health insurance that mainly covers seniors over the age of 65 and disabled people who qualify for Social Security/Disability. Medicare is funded Medicare is funded through 2 trust fund accounts held by the U.S. Treasury. The funds can only be used by Medicare.

Medicare part A is referred to hospital insurance and part B is medical insurance. What part A Medicare does is it covers the inpatient in hospital care. This Medicare is available to the people who have worked about ten years and also paid their Medicare taxes while working. The benefits part A Medicare has is they do not have to pay monthly premium to receive care. Part A Medicare does not cover for everything you will have to pay half of it. With this you also have to pay the deductible fees and then Medicare will cover for the rest you have left to pay off. Medicare part B covers some of the non-hospital expenses. In this insurance you have to also pay the monthly premium and if you have a high income the fee will be more.

The Medicare trust fund is a government insurance program that finances medical care for three different groups of individuals: people that are 65 years of age or older, disabled individuals who can receive Social Security benefits, and people who have end-stage renal disease (Shi & Singh, 2015). Individuals in these three categories can enroll regardless of their annual income. In 2015 there were 55.3 million beneficiaries and the expenditures for the year totaled $648 billion ("Trustees report," 2016). Medicare is funded by payroll taxes, general tax revenues, and premiums that are paid by individuals enrolled in the plan.

Medicare, which was first enacted by Congress in 1965, is a popular, yet failing, program because of a rapidly increasing population of retirees and their increasing costs; despite program’s flaws, Medicare is difficult to change because of the political influence of the elderly, who approve of the benefits they receive from the program. Medicare provides health benefits to citizens who are eligible for social security benefits(Fiorina, Peterson, Johnson & Mayer 2009). The program is embraced by the public, but Medicare’s increasing cost makes it difficult to sustain. Due to its popularity, the program is also very difficult to change, but without limitations the program will continue to decline in the future.

Medicare, as nationwide social insurance passed into law as title XVII of the Social Security Act of 1965, currently using about 40 private insurance companies across the United States. The primarily purpose of Medicare was to provide financial support to elderly age sixty-five and older or younger people with a permanent disabilities. There are four different parts of Medicare plans to select from: “Part A provides hospital and skilled nursing coverage’s through Hospital Insurance Trust Funds. Part B covers physician services, ambulatory surgical services, and other miscellaneous services paid by Medicare beneficiaries. Part C is managed care coverage offered by private insurance companies. It can be selected in lieu of Part A and B). Medicare Part D covers

Medicaid and Medicare are two different government programs. Both programs were created in 1965 to help older and low-income families be able to buy their own private health insurance. These programs were part of President Lyndon Johnson’s “Great Society” plan, a commitment to helping meet the needs of individual health care. They are social insurance programs, which allow the financial load of patient’s illnesses to be shared by other healthy, sick, wealthy, and lower income individuals and families.

In 1965, President Lyndon Johnson created Medicare under Title XVIII of the Social Security Act in order to provide health insurance to people aged 65 and older, without regard to income or medical history. It also includes people under 65 with permanent disabilities, end-stage renal disease (permanent kidney failure) and amyotrophic lateral sclerosis (Lou Gehrig’s disease). Roughly half of all seniors lacked medical insurance prior to 1965. As of 2015, Medicare provides health insurance to 55 million

On July 30, 1965, Medicare was signed into law by then President Lyndon B. Johnson. The President declared “No longer will older Americans be denied the healing miracle of modern medicine (Johnson, 1965). The Medicare act was implemented to provide the older population of U.S. citizens and those with disabilities and end-stage renal disease with financial security, coverage, and access to healthcare. It’s a federal program that most families will eventually rely on. “As the single largest purchaser of medical services in the United States, Medicare is an important source of income for hospitals, physicians, home health agencies, and other medical care providers” (Oberlander p. 119).

Medicare is one of the largest health insurance programs in the world with an annual cost of $260 billion (Nesvisky, 2015). Nesvisky stated that providing universal health insurance to the aging and the disabled, Medicare accounts for approximately 17 percent of U.S. health costs, one-eighth of the federal budget, and 2 percent of gross domestic production (2015). Medicare was introduced in 1965 and remains to this date as the single largest change in health insurance coverage throughout U.S. history (Nesvisky, 2015).

Due to the upcoming presidential election, the two major political parties, and their candidates, have been focusing on the primary problems that the nation will face. Chief among those problems is the future of Medicare, the national health-insurance plan. Medicare was enacted in 1965, under the administration of Lyndon B. Johnson, in order to provide health insurance for retired citizens and the disabled (Ryan). The Medicare program covers most people aged 65 or older, as well as handicapped people who enroll in the program, and consists of two health plans: a hospital insurance plan (part A) and a medical insurance plan (part B) (Marmor 22). Before Medicare, many Americans didn't have health