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In the United States, Medicare is a national health insurance program administered by the U.S. Federal Government since 1966.

United States Medicare is funded by a payroll tax, premiums and surtaxes from beneficiaries, and general revenue. It provides health insurance for Americans aged 65 and older who have worked and paid into the system through the payroll tax. It also provides health insurance to younger people with some disability status as determined by the Social Security Administration, as well as people with the end-stage renal disease and amyotrophic lateral sclerosis.

United States Medicare is funded by a payroll tax, premiums and surtaxes from beneficiaries, and general revenue. It provides health insurance for Americans aged 65 and older who have worked and paid into the system through the payroll tax. It also provides health insurance to younger people with some disability status as determined by the Social Security Administration, as well as people with the end-stage renal disease and amyotrophic lateral sclerosis.

In 2015, Medicare provided health insurance for over 55 million—46 million people age 65 and older and 9 million younger people. On average, Medicare covers about half of the healthcare charges for those enrolled. The enrollees must then cover their remaining costs either with supplemental insurance, separate insurance, or out-of-pocket. Out-of-pocket costs can vary depending on the amount of health care a Medicare enrollee needs. They might include the costs of uncovered services—such as for long-term, dental, hearing, and vision care—and supplemental insurance premiums.[2]

Medicare and Medicaid are the two government-sponsored medical insurance programs in the United States. Medicare is further divided into parts A and B—Medicare Part A covers hospital and hospice services; Part B covers outpatient services. Part D covers self-administered prescription drugs.

The government added hospice benefits to aid the elderly on a temporary basis in 1982,[12] and made this permanent in 1984. Congress further expanded Medicare in 2001 to cover younger people with amyotrophic lateral sclerosis (ALS, or Lou Gehrig’s disease)

 

Seniors can sign up for Medicare directly at: https://www.ssa.gov/benefits/medicare/

More questions?

Contact: Indiana Insurance Alliance

Website: www.INinsureALL.com

Phone: 765-462-6002

Email: kjones@INinsureALL.com

 
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