Medical insurance, part Medicare

Medicare A Federally administered health insurance program covering the cost of services for people 65 years of age or older, receiving Social Security Disability Insurance payments for at least two years, or with end-stage renal disease. Medicare consists of two separate but coordinated programs-hospital insurance (Part A) and supplementary medical insurance (Part B). Health insurance protection is available to insured persons without regard to income. 

Historically, a lack of public insurance programs created obstacles to health care services. For those who could not afford to pay for private insurance, the costs associated with health care were larger than most could afford. After lengthy debate, the U.S. Congress passed legislation in 1965 that established Medicare and Medicaid. Medicare covers over 95% of the elderly in the United States as well as many individuals who are disabled. Coverage for the disabled began in 1973 and is divided in two parts 1) hospital insurance and 2) supplementary medical insurance. The total disbursement for Medicare in 1997 was 213,575 billion, and there were 36,460,143 enrollees, of which 32,164,416 were elderly. 

Medicare a nationwide, federally-administered health insurance program which covers the costs of hospitalization, medical care, and some related services for eligible persons. Medicare has two parts Part A covers inpatient costs. Medicare pays for pharmaceuticals provided in hospitals, but not for those provided in outpatient settings. Also called Supplementary Medical Insurance Program. Part B covers outpatient costs for Medicare patients. 

Medicare Part B which provides medical insurance for physician s services, outpatient services, some mental health services, durable medical equipment, some preventive services, and home health visits not covered under Part A. 

Medicare is an entitlement program and serves all eligible beneficiaries regardless of income or medical history Like Social Securify, Medicare is based on a system of social insurance. Medicare is composed of two programs. Medicare Part A covers inpatient care in hospitals and skilled nursing facilities. It also covers hospice care and some home health care. Part A is financed by a 1.45% payroll fax paid by bofh employees and employers (2.9% for self-employed persons). Currenf employers and employees pay for the health care of current Medicare beneficiaries, wifh the expectation that when they reach age 65 they will receive the same benefits. In the U.S., when people turn 65 years of age, they are automatically eligible for Medicare s Parf A, and they do not have to pay for the hospital insurance if they, or a spouse, paid Medicare taxes when they were working. 

Medicare Part B is a voluntary form of insurance, and beneficiaries choose whether to enroll in this part of Medicare. Parf B is financed parfly by a premium charged to the beneficiary ( 54/mo in 2002) and fypically is deducted from the beneficiary s Social Security check. The rest of Parf B funding comes from general federal fax revenues. Medicare Parf B helps cover physicians services, outpatienf hospifal care, and some ofher medical services not covered under Part A. Nearly 95% of Medicare beneficiaries choose to enroll in Part B because the federal government pays for 75% of the premium cost. Medicaid pays the Part B premium for low-income elderly. 

The Medicare systems in China are as follows government-paid medical service for state functionaries and university/college students labor insurance medical service for employees of industrial, communication and other enterprises and various forms adopted on a voluntary basis for rural populations. Under the reforms of the healthcare system proposed by the Ministry of Public Health, co-payments were introduced in 10 provinces and cities for employees of state-owned institutions and enterprises to pay for part of their treatment, including drugs (IFPMA Compendium, 1994). Approval of drugs can be revoked after two years if no part of manufacture occurs in China (usually packaging). 

By contrast, the delivery of most medical care in the United States is now need-based—bureaucratic-statist, paid, partly or entirely, by Medicare, Medicaid, or so-called private health insurance. Access to, and reimbursement for, medical services is premised on the assumptions that its proper distribution is the duty of the state or other third party HMOs should approve and in-... 

Individual demand for traffic safety partly depends on avoiding the payment of medical expenses which will result from a traffic accident. While some outlay of money and time can be expected with each accident the outlay may be less than the total accident-related medical expense because of community-rated health insurance premiums or public assistance-related third party financing such as Medicaid and Medicare. The potential shift of some medical costs to those not involved in an accident means that individual demand for traffic safety tends to be too low. Similarly the demand may be too low because of the lack of precise experience rating for automobile insurance and possibly incomplete compensation for damaged parties through the courts especially when time costs and death are involved. 

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