Marketing Management 500
Table of Content
* Medicare Basics
* Administration and Funding of Medicare
* Medicare Gap leads to elderly skipping drugs
Page 4 * Medicare: Bad News For Boomers
* Conclusion and Recommendation
Medicare is a federal insurance which provides persons over the age of 65 with coverage for many health conditions and treatment with no regard to their income level; whereas, Medicaid is both a federal and state program, which provides health assistance to people of low income groups with little regard for their age. Medicare is a successful program; it comes with gaps especially in the areas of prescription drugs and long-term, non-professional nursing care. The elderly spend an estimated 22% of their income, on average, for health care services and premiums. Medicare is one of the nation’s primary healths. It provides coverage to nearly 39 million people. Before Medicare was enacted in 1965 just 56 percent of seniors had hospital insurance.
Social Security Administration
In the article the author states Medicare was instituted along with Medicaid in 1965 by a Social Security Act. The coverage and eligibility criteria vary from state to state. This program was intended to help with the cost of health care. Medicare had four parts Hospital Insurance which pays for impatient care in a hospital. Medical Insurance that pays for the doctor services and medical supplies that are not covered by hospital insurance. Medicare advantage is for people who have hospital insurance and medical insurance have the options to receive all your health care services through provider organization that’s coverage under Medicare advantage, and prescription drug coverage help pays for medications doctor prescribe for treatment. Medicare is an essential means of paying for health care for...
Please join StudyMode to read the full document