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Facts about Medicare

Medicare

In 1973, Medicare was expanded to cover people under the age of 65 who needed dialysis or transplants due to kidney failure, as well as those with specific disabilities.

Medicare

The exception to this is drugs that Medicare specifically excludes from coverage, including but not limited to benzodiazepines, cough suppressants, and barbiturates.

Medicare

Future growth in spending per beneficiary for Medicare and Medicaid—the federal government’s major health care programs—will be the most important determinant of long-term trends in federal spending.

Medicare

At the bill-signing ceremony President Johnson enrolled former President Harry S. Truman as the first Medicare beneficiary and presented him with the first Medicare card.

Medicare

The original Medicare program has two parts: Part A (Hospital Insurance), and Part B (Medical Insurance).

Medicare

Only those eligible for Medicare but who do not have 40 or more quarters of Medicare-covered employment are required to pay a monthly premium.

Medicare

In 2000, almost 16 percent of all Medicare beneficiaries participated in "Medicare+Choice" plans.

Medicare

Medicare Part B premiums are commonly deducted automatically from beneficiaries' monthly Social Security checks.

Medicare

Most individuals automatically enroll in Medicare Part A without having to pay a premium because they, or their spouse, paid sufficient taxes while working.

Medicare

American citizens are automatically eligible for Medicare upon reaching the age of 65 because they, or their spouses, paid Social Security taxes during their working years.

Medicare

Medicare is a federally funded health insurance program in the United States, designed to cover older individuals and those who meet other special criteria.

Medicare

Medicare faces continuing challenges dealing with the financial viability, availability, and quality control of services that cause widespread social concerns.

Medicare

Total Medicare spending reached $440 billion for fiscal year 2007, or 16 percent of all federal spending.

Medicare

According to the 2004 "Green Book" of the House Ways and Means Committee, Medicare expenditures from the American government were $256.8 billion in fiscal year 2002.

Medicare

The debate over how to improve Medicare and resolve this problem has lasted many years without resolution.

Medicare

The fundamental problem is that the ratio of workers paying Medicare taxes to retirees drawing benefits is shrinking at the same time that the price of health care services per person is increasing.

Medicare

Initially, Medicare was administered by the Social Security Administration.

Medicare

Medicare Part A and Part B together do not cover all the medical services that individuals require.

Medicare

Medicare Part B medical insurance helps pay for some services and products not covered by Part A, generally on an outpatient basis.

Medicare

From 3.9 workers paying taxes into Medicare for every older American receiving services as the baby boom generation retires, this figure is projected to drop to 2.4 workers for each beneficiary by 2030.

Medicare

Until December 31, 1993, the law provided a maximum amount on which the Medicare tax could be imposed each year.

Medicare

Medicare Part A covers hospital stays and certain services following a hospital stay.

Medicare

When it began in the 1960s, Medicare covered approximately 19 million individuals aged over 65.

Medicare

Medicare is a social insurance program administered by the United States government providing health insurance coverage to people who are aged 65 and over, or who meet other special criteria.

Medicare

Part C or Medicare Advantage plans are another way for beneficiaries to receive their Part A, B, and D benefits.

Medicare

Spending on Medicare and Medicaid is projected to continue to grow with the result that the Medicare hospital insurance trust fund has been projected to become insolvent, possibly before 2020.

Medicare

The Government Accountability Office lists Medicare as a "high-risk" government program in need of reform, in part because of its vulnerability to fraud and partly because of its long-term financial problems.

Medicare

Medicare is very different from Medicaid, a government assistance program that provides health care benefits to certain categories of low-income individuals, although they are often associated.

Medicare

Medicare is an entitlement program and not based on financial need.

Medicare

The Centers for Medicare and Medicaid Services (CMS), a department of DHHS, administers Medicare, Medicaid, the State Children's Health Insurance Program (SCHIP), and the Clinical Laboratory Improvement Amendments (CLIA).

Medicare

In 2007, Medicare provided health care coverage for 43 million Americans.

Medicare

Both Medicare Parts A and B have annual or benefit period (episode of illness) deductibles and coinsurance charges that must be paid for covered services.

Medicare

Only a few special cases exist where prescription drugs are covered by original Medicare, but as of January 2006, Medicare Part D provides more comprehensive drug coverage.

Medicare

Medicare Advantage Plans that also include Part D prescription drug benefits are known as a Medicare Advantage Prescription Drug plan or a MAPD.

Medicare

Most Medicare enrollees do not pay a monthly Part A premium, because they (or their spouse) have had 40 or more quarters in which they paid Federal Insurance Contributions Act taxes.

Medicare

Some people may qualify to have other governmental programs (such as Medicaid) pay premiums and some or all of the costs associated with Medicare.

Medicare

Medicare Part D went into effect on January 1, 2006, by the passage of the Medicare Prescription Drug, Improvement, and Modernization Act.

Medicare

Medicare Part B medical insurance helps pay for some services and products not covered by Part A, generally on an outpatient basis.

Medicare

Pursuant to the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, the compensation and business practices changed for insurers that offer these plans, and "Medicare+Choice" plans became known as "Medicare Advantage" (MA) plans.

Medicare

Medicare provides insurance benefits in several different areas including hospital stays, post-hospital skilled nursing care, and prescription drug coverage.

Medicare

One concern is that health insurance through Medicare will not continue, or not at an affordable price, due to federal budget cuts.

Medicare

Another segment of the cost of Medicare is attributable to fraud, which government auditors estimate costs Medicare billions of dollars a year.

Medicare

All Medicare Part B enrollees pay an insurance premium for this coverage.

Medicare

Medicare is the largest publicly funded health insurance program in the United States and plays an essential role in caring for the needs of the elderly and disabled.

Medicare

Medigap policies sold after the introduction of Medicare Part D on January 1, 2006, are prohibited from covering drugs.

Medicare

Competing approaches to reform include reducing per capita spending through incremental changes or major structural reforms, such as shifting Medicare to the control of private plans.

Medicare

Some individuals with limited financial resources qualify for Medicaid, which covers many of the services not covered by Medicare.