Medi....care (medical care) is a government funded program that was created to provide
medical coverage to the elderly. July 30, 1965 President Johnson signed the Medicare act. With our late President Truman being the 1st to enroll.
Medicare Part A is what a 65y.o. automatically get after they apply for Medicare. Part A is what ones taxes pay for after 10yrs of employment. Part A cover hospital stays, nursing homes, hospices and some skilled nursing faculties. Medicare Part B is something the participant pays for. Typically the premium is deduced from their SSI checks every month. If a senior refuse to take this option for whatever reason they will be fined 10% every year until they enroll in Medicare part B. Medicare part Care Medicare advantage plans. the advantage plans are a group of insurance companies like HMO, BCBS, Cigna etc. that was approved by the government to work on behalf of the Medicare holders. This plan also includes things like prescription coverage, and gym memberships. It is a managed health plan and copays and deductibles are not included. Medicare Part D covers prescription drugs. So if you get A, B only then you will need RX coverage. However with plan C Rx are included. Below is a chart showing the changes made to Medicare over periods of time until 2010. Please see the chart below. Keep in mind that Medicare is a program that's offered to seniors. However not all seniors are able to afford plan B which come with a 10% penalty yearly if plan B is not taken. So there are advantages to having a government free medical program, but a catch 22 for seniors living in poverty.
Overview 1970s-present
