byon 07-02-2012 at 08:54 PM (168 Views)
"Medicare is a governmental program which offers
medical insurance coverage coverage for retired persons over
age 65 or for others who meet certain medical
conditions, such as having a disability.
Medicare was signed into legislation in 1965 as an
amendment to the Social Security program and is
administered by the Center for Medicare and Medicaid
Services (CMS) below the Department of Human Services.
Medicare provides medical insurance coverage coverage for over
43 million Americans, several of whom would have no
medical insurance coverage. Even though not perfect, the Medicare
program provides these millions of individuals relatively low
cost standard insurance, but not much in the way of
preventative care. For instance, Medicare does not spend
for an annual physical, vision care or dental care.
Medicare is paid for by means of payroll tax deductions
(FICA) equal to 2.9% of wages the employee pays half
and the employer pays half.
There are 4 parts to Medicare: Part A is hospital
coverage, Part B is medical insurance coverage, Portion C is
supplemental coverage and Portion D is prescription
insurance. Components C and D are at an added price and are
not necessary. Neither Portion A nor B pays 100% of
medical costs there is generally a premium, co-pay and
a deductible. Some low-revenue folks top quality for
Medicaid, which assists in paying component of or all of
the out-of-pocket expenses.
Because a lot more folks are retiring and become eligible
for Medicare at a faster rate than men and women are paying
into the program, it has been predicted that the technique
will run out of money by 2018. Wellness care costs have
risen dramatically, which adds to the economic woes
of Medicare and the technique has bee plagued by fraud
more than the years.
No one seems to have a viable answer to save this
program that saves many people throughout the nation. report medicare fraud"