ipl-logo

Essay On Medicare

447 Words2 Pages

Medicare is a federal health insurance program designed to provide coverage for people who are 65 years or older, as well as those with certain disabilities or chronic conditions. Medicare offers several different parts that provide coverage for different types of services. In this post, we will explain the four parts of a Medicare health plan.

Part A: Hospital Insurance

Part A is the portion of Medicare that covers hospital stays, hospice care, and skilled nursing facility care. Most people who have paid Social Security taxes for at least 10 years are eligible for Part A without having to pay a monthly premium. However, there are some out-of-pocket costs associated with Part A, such as a deductible and coinsurance.

Part B: Medical Insurance …show more content…

Unlike Part A, Part B requires a monthly premium, which is based on the recipient’s income. Part B also has an annual deductible and coinsurance. However, Part B covers a wide range of medical services and is essential for those who need ongoing medical care.

Part C: Medicare Advantage Plans

Part C, also known as Medicare Advantage, is an alternative to Original Medicare (Part A and Part B). Medicare Advantage plans are offered by private insurance companies approved by Medicare and provide all of the same benefits as Original Medicare, but may also include additional benefits such as prescription drug coverage, vision, dental, and hearing services. Many Medicare Advantage plans also have lower out-of-pocket costs than Original Medicare. However, there may be additional costs such as copays, coinsurance, and deductibles depending on the plan.

Part D: Prescription Drug Coverage

Part D is the portion of Medicare that provides prescription drug coverage. Like Part B, Part D is offered by private insurance companies approved by Medicare. Part D plans require a monthly premium, which varies depending on the plan. Part D also has an annual deductible, coinsurance, and copayments. However, having Part D coverage can significantly reduce the out-of-pocket costs of prescription medications for those who need

Show More
Related

CMS Regulations And Reimbursement Models Paper

746 Words | 3 Pages

In typical bundled payment models, providers and payers share in savings and/or losses. When actual health care costs fall below the lump-sum payment, both parties keep a portion of the difference as additional profit. Conversely, the provider must provide extra services at a loss when health care costs exceed the lump-sum payment, though payers mitigate some of this loss. The potential for savings for payers lies in upfront discounted payments for episodes of care, as well

Read More

Medicare Part D Pros And Cons

169 Words | 1 Pages

Medicare part D is a subsidized health insurance program to cover for prescription drugs The program was introduced when there was the need to improve drug coverage. The former president George Bush, On December 8, 2003. Signed Medicare Prescription, Drug Improvement and Modernization Act, which created Medicare part D. these program was intended to offer voluntary drug benefits. Medicare part D, since its introduction, has contributed a lot in health insurance, some of its benefits are; 1.

Read More

Assignment D (Reimbursement Process And Procedure)

1045 Words | 5 Pages

Medicare Part C is a Medicare’s managed care benefit called Medicare Advantage plan. Each plan offers different benefits and different rules than traditional Medicare. Medicare Part D is the Medicare prescription drug coverage program; however, the cost and coverage varies by plan.

Read More

Blue Shield Research Paper

170 Words | 1 Pages

Medicare is our country’s health insurance program for people ages 65 and older. Certain people younger than 65 can still qualify for Medicare, including those who have disabilities. In 2006 there were over 38 million people receiving Medicare benefits in the United States. Blue shield is a form of Medicare. Blue shield is a health care that is in the U.S. and Canada.

Read More

Medicare Part D: Annotated Bibliography

1067 Words | 5 Pages

Ketcham, have gave a more insight view of Medicare program specially the section part D. Medicare Part D is the federal government benefit for prescription drug where the government subsidizes the cost of prescription drug and the drug insurance premium. First of all, the peer-review article, Medicare Part D Research Highlights and Policy Updates, 2013: Impact and Insights Written by JoAnn Stubbings, BSPharm, MHCA1, and Denys T. Lau, stated some facts about Medicare Part D. This article mentioned that the Medicare Part D program was first implemented in 2006 and also it has evolved a lot to be more beneficiary for the patient. This article focused on key research that was published in 2012 which has highlighted some initiative for Part D in 2013. And to do more research on it, Pubmed and Medline started to do research

Read More

Medicare Part D Essay

685 Words | 3 Pages

What is Medicare Plan D? Also known as the Medicare prescription drug benefit, Medicare Part D is a specific plan of the United States federal healthcare program- Medicare. The main objective of Medicare Part D is to allow the Medicare beneficiaries benefit of subsidized rates of prescription drugs and prescription drug insurance premiums. However, it is important to note that the beneficiaries have an option of getting the

Read More

Comparison Of Healthcare Systems In Canada And The United States

490 Words | 2 Pages

CHIP will then cover any outstanding medical expenses for the families. Medicaid is a medical program created by the government for citizens with very low income. Additionally, Medicare is a medical coverage program paid through the government paid for by taxes, which covers individuals over the age of 65 who are retired and are no longer in the

Read More

Medicare Supplement Plan Essay

742 Words | 3 Pages

Part A coinsurance including 365 days additional coverage after original Medicare coverage ends; Medicare Part B copayment; free first 3 pints of blood needed; hospice care Part A coinsurance payment, skilled nursing facility care coinsurance, Part A deductible, Part B deductible, Part B excess charges and 80% foreign travel emergency care (up to plan limits). Plans G: Part A coinsurance including 365 days additional coverage after original Medicare coverage ends; Medicare Part B copayment; free first 3 pints of blood needed; hospice care Part A coinsurance payment, skilled nursing facility care coinsurance, Part A deductible, Part B excess charges and 80% foreign travel emergency care (up to plan limits). Plan K: Part A coinsurance including 365 days additional coverage after original Medicare coverage ends; 50% of Medicare Part B copayment; 50% free first 3 pints of blood needed; 50% hospice care Part A coinsurance payment, 50% skilled nursing facility care coinsurance and 50% of the Part A

Read More

Medicare Pros And Cons

297 Words | 2 Pages

A which was a hospital insurance coverage and Medicare part B which was an optional insurance that you paid separately. Medicaid provides medical service for a particular individuals and those of low income family. Oversight of Medicaid is mostly done at the federal level, but each individual state establishes its own particular standards, sets payment for services and will

Read More

Medicare: Benefits Of Supplemental Insurance Coverage

113 Words | 1 Pages

Medicare is complex for many people because of the different types of coverage. According to Centers for Medicare and Medicaid Services (n.d), people with medicare have a chance to review their coverage and change their plans each year. I agree, even though supplemental insurance can be quite expensive, it can be helpful and useful in the long run. Supplemental insurance can pay the potentially high deductibles and uncovered medical expenses of medicare.

Read More

What Role Should Government Play In Aiding The Uninsured Essay

451 Words | 2 Pages

Medicare is funded by taxpayers, with money coming out of each paycheck, social security benefits. I believe this is effective as of right now, but I do not believe that by the time I turn 65 medicare will be running effectively. Medicaid is funded by state and federal governments. With states covering over half the cost. I believe funding programs and organizations that help provide care and inform our citizens is a great resource it will lead to less costs of healthcare for care that could have been avoided.

Read More

How Does Medicare Impact On Society

639 Words | 3 Pages

Part A is known as Hospital Insurance. It is mostly used by hospitals, skilled nursing facilities, home health, and hospice care. Part B consists of Medical Insurance. It is made up of medically necessary doctors’ services, preventive care, durable medical equipment, hospital outpatient services, laboratory tests, x-rays, mental health care, and some home health and ambulance services. Medicare Part C allows private health insurance businesses to distribute Medicare

Read More

Medicare Persuasive Essay

417 Words | 2 Pages

If you have Medicare, you might be looking for a way to supplement your coverage. You might already know that you have two main choices to look into -- either Medicare supplement insurance or a Medicare Advantage plan -- but you might not be sure which one you should choose. Although either type of coverage can help you get more out of your healthcare coverage, a lot of people who have Medicare coverage prefer a Medicare supplement plan. These are some of the reasons why you might prefer it as well.

Read More

Medicare Insurance Essay

487 Words | 2 Pages

If you travel frequently, you'll want to consider plans with nationwide coverage. Consider all your healthcare needs when selecting a Medicare insurance plan to ensure you have adequate coverage. Not understanding the costs The costs of Medicare insurance plans can be confusing. Many people do not fully understand the costs associated with their plan, including premiums, deductibles, co-pays, and coinsurance.

Read More

Why Is Canada The Best Place To Live In Essay

701 Words | 3 Pages

Health Care is a huge and important part of Canada and what it is. Canadian citizens all have access to Canada 's healthcare system known as `Medicare`. Medicare is managed by the federal government delivered through a publicly funded health care system, in cooperation with the 10 provinces and 3 territories. Under the health care system, individual citizens are provided preventative care and medical treatments from primary care physicians as well as access to hospitals, dental surgery, and additional medical services. With a few exceptions, all citizens qualify for health coverage regardless of medical history, personal income, or standard of living.

Read More

More about Essay On Medicare

Related Topics

Open Document