Medicare ( Title 18 ) Essay

1245 Words Sep 15th, 2016 5 Pages
Medicare (Title 18) is a program that provides health care to individuals who are 65 years or older, disabled, or suffer from kidney failure. Medicare has a basic four-part structure: Part A, which is hospital insurance, Part B, which is supplementary medical insurance, Part C, which is Medicare advantage, and Part D, which is prescription drug coverage. Part A and B make up what is known as traditional Medicare. Part A concerns hospital insurance, this is financed by payroll taxed through employers and employees. Part A pays for a portion of inpatient hospitalization, nursing care, home health care, and hospice. Part A includes a benefit period; this means that the insurer will pay for 60 days in the hospital long as a deductible is paid. If the patient stays longer than that set amount of days, then a copayment begins. Part B is financed by tax revenues and also consists of a premium based on income paid by the individual being insured. Services like the doctor, ambulance, outpatient care, x-rays and lab tests, medical equipment needed, and therapy are all covered by Part B. Part C is for individuals who are signed up for Part A and B. Once enrolled in Part C the individual will receive Parts A, B, C, and D). Part D covers prescription Drugs. Part D offers two different plans for coverage of drugs; one is the standalone prescription drug plan (for Medicare fee-for-service program) and the other is named the Medicare Advantage prescription plan (for MCO’s (Managed Care…

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