Health & Fitness Tools

Looking for Tips About Medicare Supplemental Insurance – Check this Publication

16th September, 2009 - Posted by health news - No Comments

If you do not have insurance, medical bills can add up fast. The U.S. can provide its citizens with a special type of insurance that is called Medicare. About 40 million of American citizens use Medicare.

It was added on July 30, 1965 and is an amendment to the Social Security Law. President Lyndon B. Johnson adopted the bill at a ceremony where President Harry S. Truman became the first person who was registered in the new program. This program aims to provide the US citizens with affordable health care. It is adopted for those people who’s budget is not enough to pay medical bills.

If you would like to register with Medicare, you must be a citizen of the USA or should have been living in the USA for 5 years. Power authority is restricted to people who are at least 65, but of course there are some exceptions. If you are under 65, but receive Social Security Benefits or Railroad Retirement Disability Benefits during the period of 2 years, you may also be qualified. Exceptions include cases when people suffer from severe kidney or from Lou Gehrig’s disease.

Many types of medical expenses are covered by Medicare, but it requires charges for some things. Things covered are as the following: doctor visits, hospital stays and medical equipment. The benefits fall into four categories: Part A, Part B, Part C, and Part D.

Hospital stays, nursing are covered by Part A benefits and doctors visits and medical equipment are covered by Part B benefits.

Medicare Advantage Plan is covered by Part C Benefits. It was added in 1997. It is offered by the private insurance company insurance plan and is an alternative to Part B and Part A benefits. A Medicare Advantage Plan should cover the same things as Medicare Part A and B, the only difference is that they ca choose how they do this. So you should understand that the cost of the services is different if using a Medicare Advantage Plan. Part D benefits refer to prescription drugs and did not come into force until 2006.

Over $256 billion dollars were spent on Medicare during 2002. In 2007 it raised to $440 dollars. The Medicare costs are forecasted to exceed and in 2019 the Medicare fund will be drew on. The reason is that the ratio of workers paying Medicare taxes to Medicare recipients is decreasing. Currently there are 3.9 workers for every Medicare recipient, but over the next 22 years the number is planned to be decreased to 2.4 workers for every recipient .

Medicare offers a powerful means for those people who are over 65. If there are some expenses paid ready money for the insured, many of expenses are different though.

Medicare is not a problem if you know its basics. We at medicare supplemental insurance site not only offer finance saving products of this market, but also share for free important knowledge about medicare plans.

Before you make a decision on any medicare supplemental insurance – please visit our site and find out how to choose medicare supplemental insurance in a smart way.