Health Insurance : A Fundamental Aspect Of The United States

1851 Words Sep 19th, 2016 8 Pages
Health insurance is a fundamental aspect of the United States’ society and the economy at large. The country 's economy relies on the health of its workforce as well as the wellbeing of the elderly members of the society. Medicare is one such program that provides health insurance to elderly Americans aged 65 years and above. The Medicare program is administered by the American federal government through private organizations. The program is thus funded through Payroll Tax as well as premiums from the revenues of the beneficiaries of the program. Younger Americans below the age of 65 years can also benefit from the program if they are disabled. The total beneficiaries of the program are estimated at around 55 million people, with a huge proportion being elderly beneficiaries. It is worth noting that the program does not cover all medical charges but rather about half of the total charges. The rest is covered by the beneficiaries themselves.
There are four major types of benefits that are provided under the Medicare program. These advantages are classified as part A, B, C, and D. Part A of the program is referred to as hospital or Hospice insurance which cover inpatient hospitals. This part of Medicare covers for inpatient to a maximum duration of 90 days in the hospital. Medicare is strictly against readmissions hence penalizes all hospitals that do so. Part A also covers patients who are terminally ill and have a lie period of less than six months. Part B is a medical…
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