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Social Security Column
Medicare Is Here to Stay
By Phil Walton, Social Security Manager in Toledo, OH
Special to The Truth
Medicare went into effect 48 years ago on July 1, 1966.
Earlier that same year, Medicare workers went door to door
trying to get seniors to sign up. Medicare was not the
cornerstone then that it is today and people did not know
whether it was going to work for the long haul. Now, nearly
half a century later, Medicare remains one of the most
popular government programs in the nation. We can’t see the
future, but one thing’s for sure: Medicare is here to stay.
Medicare provides health insurance to more than 50 million
Americans. Forty-two million are people age 65 and older and
the other 8 million are younger and have disabilities.
Most people first become eligible for Medicare at age 65.
The four parts of Medicare are parts A, B, C, and D.
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Part A
(Hospital Insurance) helps cover inpatient hospital
care, skilled nursing care, hospice care, and home
health care. Most people get Medicare Part A
premium-free since it is earned by working and paying
Social Security taxes.
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Part B
(Medical Insurance) helps cover services from doctors
and other outpatient health care providers, outpatient
care, home health care, durable medical equipment, and
some preventive services. Most people pay a monthly
premium for Part B. In 2014, the premium for most people
is $104.90, the same as it was in 2013. Some high-income
individuals pay more than the standard premium. Your
Medicare Part B premium also can be higher if you do not
enroll when you are first eligible, also known as your
initial enrollment period. There also is a Medicare Part
B deductible of $147 in 2014.
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Part C
(Medicare Advantage) allows you to choose to receive all
of your health care services through a provider
organization. This plan includes all benefits and
services covered under Part A and Part B, usually
includes Medicare prescription drug coverage, and may
include extra benefits and services at an extra cost.
You must have Part A and Part B to enroll in Part
C. Monthly premiums vary depending on your state,
private insurer, and whether you select a
health maintenance organization or a preferred provider
organization.
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Part D
(Medicare prescription drug coverage) helps cover the
cost of prescription drugs. Many people pay a premium
for Part D. However, people with low income and
resources may qualify for extra help from Social
Security to pay the premium and deductible. To see if
you qualify for extra help visit
www.socialsecurity.gov/prescriptionhelp.
Will you be age 65 soon? Even if you decide not to retire,
you should consider applying for Medicare. You can apply in
less than 10 minutes using our online Medicare application.
Do it today at
www.socialsecurity.gov/medicareonly. To learn more about
applying for Medicare when you plan to delay retirement,
read our publication Applying For Medicare Only—Before
You Decide, available at
www.socialsecurity.gov/pubs. |
