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Medicare is a governmental system which offers

medical insurance coverage for retired persons over

age 65 or for other individuals who meet certain medical

conditions, such as getting a disability.

Medicare was signed into legislation in 1965 as an

amendment to the Social Security plan and is

administered by the Center for Medicare and Medicaid

Services (CMS) below the Department of Human Services.

Medicare offers medical insurance coverage coverage for more than

43 million Americans, many of whom would have no

medical insurance coverage. Even though not excellent, the Medicare

plan offers these millions of folks relatively low

cost standard insurance coverage, but not a lot in the way of

preventative care. For instance, Medicare does not spend

for an annual physical, vision care or dental care.

Medicare is paid for by means of payroll tax deductions

(FICA) equal to 2.9% of wages the employee pays half

and the employer pays half.

There are 4 components to Medicare: Component A is hospital

coverage, Element B is medical insurance coverage, Element C is

supplemental coverage and Element D is prescription

insurance coverage. Components C and D are at an added cost and are

not needed. Neither Part A nor B pays 100% of

medical fees there is typically a premium, co-pay and

a deductible. Some low-income men and women top quality for

Medicaid, which assists in paying portion of or all of

the out-of-pocket expenses.

Due to the fact more men and women are retiring and become eligible

for Medicare at a quicker rate than folks are paying

into the program, it has been predicted that the program

will run out of funds by 2018. Wellness care fees have

risen dramatically, which adds to the monetary woes

of Medicare and the system has bee plagued by fraud

over the years.

No one seems to have a viable answer to save this

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