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Guide To Medicare

Guide To Medicare

What is medicare
Medicare is a social health insurance plan which is funded by payroll taxes. All working Americans pay payroll taxes, as do their employers. Medicare is most often utilized by individuals over 65, but there are other individuals that may be eligible. The Social security administration determines eligibility.

History of medicare
Medicare began in 1965 and since then, the program has undergone some changes. Previously, the amount of salary taxes was capped. However, employers and their employees now contribute a flat percentage of their salary to fund the program, regardless of what the salary is.


Medicare reform

Medicare reform has included a variety of changes, including the addition of prescription drug coverage. Previous to that, the entire expense of prescription medication was the responsibility of the individual. Although medicare benefits require that the individual pay a deductible on most medications, the cost is much lower than in was before prescription drug coverage was added as a medicare benefit.


Medicare cuts
Medicare cuts have already begun, as Congress has passed legislation which makes changes to the program in the near future. The reform will include Medicare cuts and lowered Medicare reimbursement. In fact, some beneficiaries may find that they have substantially lowered coverage.


Who is eligible for medicare
The general requirements for medicare include individuals over the age of 65 that have been United States citizens for at least five years. In addition, the individual must have paid into Social Security for at least ten years, or they will be required to pay a premium. There are also special circumstances which grant Medicare eligibility to those younger than 65.

Medicare card replacement
Medicare card replacement involves a simple process which can be conducted online or over the phone. Whether a card is damaged, lost or stolen, individuals should immediately request a new card as it is used as proof of eligibility.

Medicare fee schedule
The Medicare fee schedule may vary depending on the type of coverage, as well as the specific services provided or prescription medication purchased. Medicare billing will usually include a detailed description of fees and who is responsible for payments of those fees.