America's Largest Health Insurance Program

2110 Words9 Pages
Medicare is America’s largest health insurance program for the men and women over the age of 65 or with certain disabilities. For many Americans, this a huge part of how they can afford medications, doctor visits and other medical expenses. In recent years the number of Medicare enrollees has doubled (NASI, 2015). The “Baby Boomers”, people born from 1946-1965, is the largest generation within America with roughly 75 million Americans. This generation of Americans are all turning 65 around the same time and enrolling into this medical program. With the amount of new enrollees the total spending for Medicare will rise from 3.6% of the nations GDP to 5.1% by 2030, when the youngest of the baby boomer generation will be 65 (NASI, 2015). Even…show more content…
Made up by four parts (A,B,C,D) Medicare covers everything from medical visits to prescription drugs. Parts A and B are apart of the “Original Medicare”. Meaning care that is managed by the federal government. Part A of Medicare is hospital insurance. This covers hospital care such as inpatient care, hospice care, home health care services, and nursing care facilities. Generally free of charge if the beneficiary has worked and paid Medicare taxes for at least 10 years. If not a monthly premium is established. Typically, part A doesn’t cover the whole hospital bill. For at least 60 days Medicare will pay for 100% of the hospital stay charges or 100% of 20 days at a skilled nursing facility, and after that a flat rate amount is paid up to the maximum number of covered days. Medicare Part B is medical insurance. Part B insurance covers different medical needs than what is covered in Part A. With Part B coverage, a beneficiary will be covered for doctor visits, blood tests, x-rays, diabetic supplies and screenings, and out patient care. Part B has a monthly premium that varies for each person. This is where Medicaid comes in for lower income beneficiaries, if a beneficiary has a higher income the fee for Part B can be higher. Each person is responsible for a small deductible each year before Part B starts to be used and then
Open Document