Medicare

 

What is Medicare? Explain the components and financing of each part. What are the problems for Medicare? What are your solutions?
The paper should be 3 pages and include the following and must be free of plagiarism
• Introduce and define the topic (your study group knows nothing about it).
• Discuss the details of the topic.
• What are the pros and cons (or support vs opposition)?
• What is your personal stand on the issue?
• After reading the briefing paper, a member of your support group should have a general understanding of the issue.

 

Sample Solution

Medicare is a federal health insurance program designed to provide coverage for individuals aged 65 and over, as well as certain younger people with disabilities (Centers for Medicare & Medicaid Services, 2019). It consists of four parts: Part A (Hospital Insurance), Part B (Medical Insurance), Part C (Medicare Advantage) and Part D (Prescription Drug Coverage).
Part A covers inpatient hospital care, skilled nursing facility care, hospice care, some home health services and limited long-term care. This part is funded by payroll taxes paid by workers’ employers and themselves.
Part B covers preventive services such as physical examinations or screenings, doctor visits, laboratory tests, durable medical equipment and specific types of outpatient treatment. Premiums are paid monthly by enrollees to help fund the cost of this coverage.
Part C plans are offered through private insurers that contract with the government to provide benefits covered under Parts A and B. These plans typically include additional benefits not covered under the original Medicare plan like vision or dental services. The premiums vary depending on which plan you choose but generally include a combination of costs from both enrollees and the government.
Finally, Part D provides prescription drug coverage through private insurers who also contract with the government. Plans must cover at least two drugs in each category specified by law but may also offer more comprehensive coverage if desired; again the premium costs will vary based on the plan chosen. In addition to enrollee premiums those participating in this part pay an annual deductible before their coverage begins (Centers for Medicare & Medicaid Services, 2019).

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