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Medicare Pros And Cons

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Turning age 65 can be considered a milestone in one’s life. During this time one may have to make lots of decisions. One major decision that has to be made is the choice of which Medicare options to choose. This can be very difficult if you are unsure or really don’t know much about the different health insurance plans offered through Medicare. There is Medicare Parts A, B, C, and D as well as private insurance. Some parts of Medicare are more complicated to understand than others. Medicare Advantage or what used to be called Medicare Choice is one that many older adults really don’t understand or have less knowledge about and for that very reason that is why I chose to write about Medicare Advantage. According to the Social Security Administration …show more content…

The pros of having Medicare Advantage outweigh the cons of having it. According to Choose Your Medicare Options Wisely (2005), it was mentioned that the upside to having Medicare Advantage is that for those older adults or disabled individuals who accumulate massive hospital bills that this plan would help them to alleviate those problems while at the same time providing services such as preventive care such as eyeglasses and oral care that is not provided through basic Medicare. At the same time an individual is still able to receive Medicare Parts A and B, with fewer forms to complete while receiving extensive care without having to expect to pay extra fees for services rendered upon physician services (Choose Your Medicare Options Wisely, 2005). The downside as discussed by Choose Your Medicare Options Wisely (2005) to having Medicare Advantage is that on top of the Part B premium one would have to pay, they would also be required to pay a premium for Medicare Advantage that could be as high as $100 per month. Another issue with Medicare Advantage is that you have to choose a doctor within a network list that is already predetermined unless you are willing to pay the extra fee(s) associated to seek care by a physician of your choice and most of the plans require that you have a referral to seek a desired physician (Choose Your Medicare Options Wisely, 2005). Choose Your Medicare Options …show more content…

Mobley et al. (2007) also noted that based off the study that was done resulting from people of different backgrounds and different categories included feedback that was given to show reports that some people opted out for reasons contributing to the lack of knowledge being given out to them through employees of the plan, individuals feeling as though the Medicare Advantage plans were not very beneficial to them and some even went on to say they understood and viewed the plan to actually be different than what they actually perceived it to

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663 Words | 3 Pages

It depends on “multiple insurers and plans competing for customers.” When the coverage changes, people will struggle with “higher payments for increasingly restricted services”, which is even worse in many situations. Unlike McCardle’s solution is having both the universal and the free market plan for healthcare, Chaufan focused on just the free market one, which she continued to evaluating the pros of Medicare, or the single-payer system. First of all, it covers for everybody whether documented or not, on every needed services. Also, patients will have the choice in providers, which is more beneficial.

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624 Words | 3 Pages

Medicare is a federal government administered healthcare program originally implemented on July 1, 1996. Medicare has four parts (A, B, C and D) that provide different areas and differing levels of coverage. All Medicare programs provide coverage for cover healthcare services to qualifying individuals, known as beneficiaries, which includes Social Security beneficiaries over the age 65, people under 65 with certain disabilities, and people of all ages with end-stage renal disease. Each program provides coverage for medically necessary care and services to covered beneficiaries and has deductibles or copays for covered services. Medicare Part A, Medicare Part B and Medicare Part C all provide coverage for medical services.

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264 Words | 2 Pages

Over 28 million people in the world receive health insurance through the Medicare program (Gornick, n.d.). The medicare program was designed to operate throughout the nation with a set of uniformed benefits and cost-sharing requirements in the form of deductibles and coinsurance. However, over the years the program data indicated that the Medicare premiums and deductibles, benefits paid out varied significantly by state of residence of the beneficiary (Gornick, n.d.). These variations are due to part of the fact that reimbursements are based on local physicians' prices. Many policy analysts suggested that the geographic variations in Medicare reimbursements should be reduced (Gornick, n.d.).

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420 Words | 2 Pages

You may be better served through Medicare Advantage, but if you decide on a Medicare supplement plan, you’ll need to find insurance companies that offer this option. Contact the Health Assurance Assistance Program in your state for a comparison shopping guide

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590 Words | 3 Pages

Americans have the opportunity to choose a health care insurance that works best for them. For example, the insurance exchange offers affordable choices of private plans that have to compete with their business which is determined by cost and quality. They also receive a tax credit that helps with the cost of paying for their employees’ health insurance. The Act also considers Medicare as one of their priorities. In order to give the best quality of care for senior adults and lower the cost, the Act saves thousands of dollars in drug costs by closing the coverage gap known as the “donut hole.”

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867 Words | 4 Pages

Recent beneficiary surveys from Virginia suggest that the long-term viability of the program depends on attracting and keeping beneficiaries enrolled (Summer & Hoadley, 2015). However, Stakeholders identified that beneficiaries were likely to opt-out or dis-enroll from the demonstration due to satisfaction with existing care, lack of information regarding the demonstration, and resistance from providers. Plans noted that they are often unable to locate enrollees to send enrollment information or conduct health risk assessments (Rollins,

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869 Words | 4 Pages

While researching Medicare options for my grandpa I stumbled across your article, “Why I chose Original Medicare over a Medicare Advantage Plan” (Marshall; [1-6]) Marshall, Jeffery. “Why I chose Original Medicare over a Medicare Advantage Plan.” Marshall, Parker & Weber LLC (April 8, 2013). (http://www.paelderlaw.com/why-i-chose-original-medicare-over-a-medicare-advantage-plan/) 11/19/2016 [1-6]. In the article you mentioned that Original Medicare is a better choice, because the plan has less restrictions, many supplement plans, and gives you more empowerment.

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862 Words | 4 Pages

In the beginning, Medicare was thought of as a "sickness insurance program. " There were concerns that large segments of the population, especially laborers, who could not afford to pay their medical bills. While Medicare was in its planning stages, the American Medical Association (AMA) opposed a national plan from the start. " The AMA, in common with many Americans, thought of medical care as largely a private transaction between a medical practitioner and a patient.

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An individual is eligible to receive Medicare Part C, if they have the original Medicare option. Finally, Medicare Part D coverage is for anyone who is patriciate in Medicare Part A or Part B. The concept of registering for Medicare prescription drug plan is voluntary and individuals will pay an extra monthly premium for that coverage.

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858 Words | 4 Pages

Through the years, Medicaid has continuously reinforced the idea of saving money by reducing spending, and this has been the most harmful to its beneficiaries. It really depends on the person’s income to determine the quality of care that they are going to get. If someone has the means to pay for the out of pocket expenses that come with Medicaid, they are going to receive the medication they need to stay healthy. If they are unable to afford it, their health will continue to be in danger, which could lead to emergency room visits or hospitalizations. The medical expenses and bills cause people to remain in a cycle of debt that they are unable to pay off.

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3557 Words | 15 Pages

Medicaid and Medicare were signed into law in 1965. After 50 years, Medicare and Medicaid are still being used by the people of the United States as a form of aid with medical expenses. Medicare and Medicaid has changed over the years to provide more and more Americans with access to quality and affordable health care that is needed (“CMS’ program history,” 2017, p.1). Medicare and Medicaid have progressed over time to become better and more improved for those receiving the services provided by the government. Even though the Medicare and Medicaid services have changed for the better of the services, it has changed too much from the intended use of the services which has led to problems associated with the

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1293 Words | 6 Pages

Medicare is a part of the insurance that is for people sixty-five and older. This means you have to be receiving social security or disability income. There are different parts of Medicare people qualify for including Part A, Part B, Part C, and Part D. Medicare Part A is hospitalizations and acute care, for people that would be in a skilled nursing facility. Medicare Part B is outpatient care this includes such as surgeries and doctor visits.

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781 Words | 4 Pages

Medicare is a federal government health insurance program for individuals 65 or older, under 65 with disabilities, or any age with End Stage Renal Disease of ALS. Medicare Part A covers inpatient hospital stays or skilled nursing facilities. Medicare Part B covers physician visits, outpatient services and some preventive care. Medicare Part D is the prescription drug coverage. Medicare Advantage (Part C) includes Part A, Part B and usually Part D depends on the coverage you choose.

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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.

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664 Words | 3 Pages

However, younger people may qualify if they have received 24 consecutive months of Social Security disability benefits, along with other specific requirements. There are four parts to Medicare’s benefits. Original Medicare includes Part A and Part B. Part A generally covers hospital care and hospice care, and Part B (Original Medicare) covers services such as medical care, durable medical equipment, and supplies, and some preventative services. Part A is funded primarily through a dedicated payroll tax paid by employers and their employees, while Part B is financed through a combination of general revenues, premiums paid by beneficiaries, and interest.

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