In the United States, health care can be incredibly expensive and in many cases, only gets more expensive with age and for those who have preexisting conditions. Since the nineteen-sixties, the federal government has been providing assistance for seniors through the Medicare Program, which is a type of socialized health insurance, significantly increasing the number of insured seniors in the U.S.
Medicare is an insurance program that is run by the Federal Government, with the primary goal being providing health insurance to seniors over the age of sixty-five. It is part of the Social Security program and was first established in 1965.
The main requirements for receiving Medicare is that the individual is over sixty-five and has been a United States resident legally for at least five years. Providing the recipient, or their spouse, has paid into the Federal Medicare System for at least ten years, as part of payroll taxes, only a limited monthly premium may be required. Otherwise, if the insured has not paid payroll taxes, they will have a higher monthly premium.
While the main intention is to provide health care to seniors in an affordable manner, some other individuals are also covered by Medicare. For example, those who are disabled may qualify for Medicare, primarily if they have an advanced kidney disease or Lou Gehrigs disease.
Medicare benefits can be rather extensive and can cover a number of conditions and instances. For example, most doctor's visits, as well as emergency care is covered, as well as things like glasses, canes, and wheelchairs, which are considered durable medical equipment. There are, of course, some restrictions on all of these items and in some instances, a co-payment required. As an example, while assisted living is often covered, the nursing home is required to meet federal guidelines and be classified as a skilled facility.
Within the past twenty years, private insurance has also entered the Medicare industry, with alternatives to the federal medicare program being available. These plans, which are called Medicare Advantage Plans, must meet a number of federal regulations and are federally funded, but the actual program is run by private insurance companies.
Medicare Advantage Plans can offer some advantages, but it is important to be careful choosing one and compare their plans to what is provided by traditional Medicare. While they must meet federal guidelines, they are given leeway to choose how to meet it, so might have a higher premium for something like extended nursing care, while offering less expensive prescription medicine.
Another recent change for Medicare is the improved coverage of prescription medicine. Prior to 2006, Medicare's coverage of prescription medicine left something to be desired and, as a result, a bill was passed to expand care. Now, Medicare recipients are able to apply for a privately run prescription medicine plan, designed to cover the cost of most prescription medicine.
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