10 Facts about Medicare

Post On: February 28, 2018
By: Andi
In: Health

Some countries had medicare for preserve the healthy of its people, in this article 10 facts about medicare in the United States would be presented.  In the United States, national health insurance programme have registered since 1966, and in todays, it involved about 30-50 private insurance companies over the United States under contract for administration. Here are the more fun facs about Medicare in the USA.

Facts about Medicare 1: The History of Health Programme

Initially, “medicare” is the programme to provide medical care families of individuals serving in the military as part of the Dependents’ Medical Care Act passed in 1956. In 1965, “XVIII of the Social Security Act ” congress held to serve health insurance to people 65 years and older. In 1982, the government added hospice benefit to aid elderly on a temporary basis the in 1984 made it to be permanent. Finally in 2001, the congress further expanded medicare for younger people held.

Facts about Medicare 2: Administration

Medicare programme has contracted with the private sector since the beginning. The contracted processes include claims and payment system, call centre service, clinical registration, and fraud investigation.

facts about medicare

Facts about Medicare 3: Financing

Medicare in the USA has some sources of funding. 2.9% of payroll tax levied on employers and workers (i.e. 1.45% each pay) used to fund the inpatient admitted hospital and skilled nursing. Interestingly, in the beginning 2013, the level of Part A tax on earned income exceeding up to US$200,000 for individuals (i.e. US$250,000 for married couples filling jointly) rose about 3.8%, in order to pay of the cost of the subsidies mandated by the PPACA. On the other hand, part B and D funded by premiums paid. While part C beneficiaries are fully on Part A and B of medicare but that their medical needs are paid for per capita rather than “fee for service”.

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Facts about Medicare 4: Part A : Hospital/Hospice Insurance

Inpatient hospital stays including semi-private room, foot and test covered by Part A. The maximum length for inpatient is that covered by Part A is 90 days. The first 60 days will be covered by Medicare in full. Then days 61-90 require a co-payment which is $322 each day in 2016.

Facts about Medicare 5: Part B : Medical Insurance

Payment or some services or products are not covered by Part A would be helped by Part B. Medicare part B coverage includes chiropratic care, out patient services, visiting nurse, and others such as x-rays, laboratory and diagnostic tests, influenza and pneunomia vaccinations, blood transfusions, renal dialysis, outpatient hospital procedure, limited ambulance transportation, immunosuppressive drugs for organ transplant recipients, chemotherapy, hormonal treatments such like Lupron, and other outpatient medical treatments.

Facts about Medicare 6: Part C : Medicare Advantage Plans

In the beginning, Part C well-known as “Medicare+Choice”. Part C member typically usually pay a monthly premium in addition to the medicare to cover items not covered by traditional medicare (e.g. Parts A and B), such as prescription drugs, dental care, vision care, annual physicals, and even gym or healt club membership.

facts about medicare

Facts about Medicare 7: Part D: Prescription Drug Plans

In the beginning 2016, people with Part A and B is eligible for Part D that covers self-administered drugs.

Facts about Medicare 8: Out-of-pocket Cost

The programme provides premium, deductibles, and coinsurance cost.

Facts about Medicare 9: Payment for Services

Amazingly, for the decade 2010-2019 medicare is projected to cost 6.4 trillion dollars.

facts about medicare

Facts about Medicare 10: Fraud

Based on the list at the Government Accountability Office, Medicare is a “high-risk” government programme because of the vulnerability to fraud.

How do you feel after reading the facts about Medicare?