This paper is an overview of the Medicare system and how it works. The document is intended…
Created by Congress in 1965, under President Lyndon B. Johnson, Medicare is an insurance program sponsored by the United States government. The purpose of Medicare is to guarantee access to health insurance for US citizens of age 65 and over and to people of any age with disabilities. In 2011, 48.7 million people were covered by Medicare with a total expenditure of $549.1 billion1 from which $182.7 billion was used to cover 15.3 million inpatient admissions; this represents 47.2 percent of total hospital’s admission costs in the US. Medicare falls under the category of a single-payer health care program;2 which means that a single public or semi-public agency organizes the healthcare finances; however, the delivery of care remains under private authority.…
According to the case study, Medicare and Medicaid were passed into law in the United States to provide coverage for health-care costs for their citizen, especially those who are elderly, poor, and disabled.…
Economics plays a role in personal finance. -Describe the role that economics plays in your personal financial plan. Also, the use of credit plays a role in a personal financial plan. Describe the advantages and disadvantages of credit and explain how you will use it as part of your financial plan. Specifically address the following required elements:…
Medicare pioneered the ushering of the U.S.government into the healthcare insurance business. Prior to the change it was almost impossible for anyone over 65 to affordable health insurance. Medicare pays billions of dollars to take care of our senior citizens, our disable and those with end stage renal disease.…
With health care as an issue in the United States there are steps and processes taken to make health care affordable. Policies are made when a problem arises to prevent future problems and to clear the current problem. A policy has three stages it must go through those are, formulation stage, legislative stage, and implementation stage. Medicare was established in 1965 by the government and provides millions of Americans with insurance coverage. Medicare is a government run program to those 65 and older are eligible along with those with disabilities of any age. Policies made affect insured Americans, organizations, and workers. Over the course of many years policies have been made; formulation, legislative, and implementation to achieve where Medicare is today.…
Medicare- Medicare is a type of insurance that is mainly set in place for the elderly, over 65 years of age. You can also qualify for Medicare if you are under the age of 65 years old but you have a certain type of disability. There are four different parts of Medicare coverage. There is Part A which covers the patient’s hospital care, nursing homes, or home health care. With Part A insurance most people do not have to pay a premium. Part B covers the medical side of everything including doctors’ visits, medical equipment, and things of that nature. However, the patient does have to pay a premium each month with this type of insurance. Part C covers both Part A and B insurance. It does come with other benefits but most of the time people have to pay extra for those services. Part D covers prescription drugs. It helps a great deal with the cost of prescription drugs because they can really be costly for people. The fund to keep Medicare going is coming out of taxpayers’ checks every time they get paid. This is called FICA (Federal Insurance Contributions Act). They also get funding from copays, premiums, and deductibles.…
Thanks for posting your comment, Medicare is the main Health insurance that I see being used as a primary, and secondary I have seen Health Partners Medicare (HPM), Cigna Health Springs Medicare (CHSM). There are so many Patients that has a Primary and a secondary insurance, But insurance company doesn't explain to the patients or they don't understand how the insurance work so patient needs more information and it needs to be explain with more details so they won't be so confused. Because they will come to the office asking why they have a bill. I had many patient come to the office in which I will have to explain it to them so they will have a better understanding on the insurance they have. Keep up the good…
Medicare is a federal health insurance program. There are many parts to Medicare. Each section represents different things such as.. Part A is for hospital insurance, Part B is for supplemental insurance, Part C which is the Medicare Advantage Program , and Part D which provides access to prescriptions. Medicare also has Medigap which assist the beneficiaries with paying for insurance. Medicare is usually for those that are for people who are 65 or older, certain younger people with disabilities. Also some individuals with end stage renal disease.…
Are you aware of the various policies that are being enacted from each state to state regarding the qualification of Medicare? Medicare is funded by the federal government and each state is responsible for operating the Medicare program as well as the local Medicaid programs. However, premiums have increased for Medicare and also, the coverage has changed in the past few years requiring people to purchase additional supplemental Medicare policies - this is difficult for elderly that have fixed incomes. If the elderly are unable to purchase Medicare, they will go uninsured. The Medicare system is double-funded. It is funded by the taxpayer (federal dollar) as well as the premiums being collected. But, in being double-funded, the coverage is still not as high as most private insurance companies making them appear with less quality.…
Understanding the specifics of Medicare is very challenging for its member demographic. Having someone on staff who can assist them is a great benefit. Just like private plans, they have open enrollment periods, and penalties for consumers who register late. Some of those penalties can affect their cost of care for years. Medicare is not an “entitlement”, it is an insurance that working Americans have been paying for throughout their working career. It is paid through the Social Security Trust Fund.…
There are two common procedures done on the digestive system. These procedures are the lap band and gastric bypass surgery. These procedures are to help people achieve weight loss. There are millions of people who have gotten these procedures done throughout the United States. However, the results are not always what you expect.…
I value all your positive impact for the fight to improve the health care services for all citizens in twenty-four district of Florida. Your commitment to serve the surrounding communities is outstanding and felt by all person who has a meeting with you. In the case of the health policy, Medicare, your unwavering work to fight for the rights of all individuals have been supported by Congress to expand the Medicare benefits plans for all Americans. The future of health reform tries to help establish a country that recognizes that all Americans’ need health coverage. The cost of health care coverage is excessively high, and many American families cannot afford health care services without the assistance of government support programs such as…
Medicare provides healthcare coverage to tens of millions of Americans, making it one of the country’s most important social programs. With each year to the next, the government makes a few changes to the way the program works, making it important for recipients alike to keep up with what’s current. If you qualify for "free" Medicare Part A, which takes care of inpatient services such as trips to the hospital, then your costs will stay the same in 2017. Recipients who pay premiums for Part A will see their costs increased modestly next year. The maximum cost for coverage is to increase to $413.00 in 2017, and up to $411.00 in 2016.…
The main procedures are Medicare, the mature Americans act of 1965, social security and Medicaid. Medicare assistances programs for the senior people to be capable to have enough money to cover high expenses of health care. It is broken down into hospital insurance and supplemental medical insurance. Every person in their 65 years of age falls under a category. They acquire medical care because of these protocols. Social security is given right after retirement and it is a particular amount of cash given to an individual every month. Numerous seniors live off because of social security for they have no savings, pensions or income. Money is paid into the social security system through taxes from employers and employees. The Americans Act of 1965 is a law and its modifications are the foundation for federal support to local communities and states to meet the necessities of the senior population. These are: best attainable physical and mental well being, adequate income, occasion for employments, appropriate accommodations, and honor, and self-respect, retirement in health, real civic support, important activities and accommodations for individuals who require institutionalized care. The preceding most important procedure in Medicaid was that it fundamentally deliveries housings for low income people and those need community support. Medical improvements change according to the state that the…