Medicare


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Related to Medicare: Medicaid, Medicare and Medicaid

Medicare,

national health insurance program in the United States for persons aged 65 and over and the disabled. It was established in 1965 with passage of the Social Security Amendments and is now run by the Centers for Medicare and Medicaid Services. Coverage for certain people with disabilities began in 1973. Medicare provides for a basic program of hospital insurance, under which enrollees are protected against major costs of hospital and related care; and a supplementary medical insurance program, through which persons are aided in paying doctor bills and other health-care bills. It is funded by a tax on the earnings of employees that is matched by the employer and by premiums paid by enrollees. In 2012 some 51 million Americans were enrolled in Medicare. Legislation passed in 2003 provides for a drug benefit program (beginning in 2006), higher premiums for enrollees earning more than $80,000, and subsidies over 10 years to encourage private insurers to compete with Medicare.

Medicare

U.S. program of health insurance for the aged. [Am. Hist.: EB, VI: 747]
References in periodicals archive ?
Medicare's different parts are further explained at www.
In September, most consumers surveyed said they liked the idea of getting Social Security numbers off of Medicare cards, but only 11% knew CMS was preparing to make that happen.
Medicare will pay for hospitalization under Medicare Part A.
Despite the drop-out figures, government statistics paint a picture of growing physician participation in Medicare. A 2014 CMS report shows that a total of 1,226,728 health providers of all specialties participated in Medicare in 2013, up from 1,089,306 in 2012, according to federal data.
Service members' children with special needs qualify for Medicare Parts A and B automatically after receiving disability benefits from Social Security for twenty-four months.
The authors calculate that in the five states studied, increasing Medicare Advantage payments by $100 per patient per month would increase Medicare Advantage enrollment by 400,000, and Medicare Advantage spending by $5 billion.
About 12 million seniors (approximately one-fourth of all Medicare enrollees) choose another way to obtain Medicare coverage.
Through these two programs, Medicare requires insurance carriers to identify and report claims and settlements that involve Medicare beneficiaries.
When Congress created the Original Medicare Plan in 1965, it left holes in the coverage on purpose, to hold down costs and discourage overuse of benefits.
Medicare Part B, or medical insurance, covers doctor charges both in and out of the hospital, and other outpatient services like labs and x-rays, outpatient surgery, outpatient rehabilitation, and durable medical equipment.
The redesigned Medicare Plan Finder will make it easier for beneficiaries to see these changes and to:
Rather than pay for all the things Medicare doesn't cover out of pocket, many choose to purchase supplemental insurance, known as (https://www.fool.com/retirement/2017/02/12/should-you-get-a-medigap-plan.aspx) Medigap policies .