By Lisa Ross


Medicare is a type of health insurance for people who are 65 years and above. It is mainly divided into four parts. Part A covers skilled nursing facilities, home health care, inpatient care in hospitals, and hospice services. This type does not have additional premium costs. Part B is a kind of medical insurance that covers health care service providers, outpatient care, home health care, and durable medical equipment like walkers, canes, and crutches. Any medical doctor should subscribe to Medicare with Medicaid Tampa of his or her own good.

People suffering from severe illness are usually advised to subscribe to this category (Part B). With the help of this part, patients find it easy to prevent the illness from becoming worse. In other words, it covers preventive services. Medicare Replacement plan (Part C) is usually offered by private insurance companies.

Some drugs are so expensive that some patients cannot afford buying them. This is what led to the instruction of Part D. This part helps in cutting down the average cost of buying drugs. For this case, a service seeker is required to pay premiums. However, the amount is normally not constant. It depends on the factors such as the cost of buying drugs and even the plan selected. Some ailing individuals are helped by Social Security in matters regarding the payment of premiums.

Medicare accounts for a relatively large Federal Budget, 20% of healthcare expenditures, and more than 3% of Gross Domestic Product. In fact, it has a great positive impact to the healthcare, and economy of America. This kind of insurance has played a very important role when it comes to improving the lives of Americans, especially the older ones. It helps the elderly pay less amount when it comes to meeting the cost accessing medical care. Research done recently reveals that the entire cost has reduced by about 40%.

Another important benefit of this system is that it has helped in transforming the American Hospital System for the betterment. This has helped the service seekers get services of high quality at affordable prices. It helped in consolidating hospitals hence converting them into large coordinated systems. This had a positive impact on the matters regarding size (mass purchasing, capital, and access to technology).

Medicare payment methodologies are most appropriate for outpatient. It plays a vital role in enhancing comfort in healthcare centers. It prevents unfavorable conditions like congestion. In other words, this program has played an essential role in improving the quality of service provided. Hospital stays have really been reduced for the good of the service seekers. Sicker and also older patients can now get services of high quality when it comes to combating negative effects of chronic conditions.

The funding of Medicare helped hospitals enhance investments in treatments, facilities, personnel, and equipment. This played a very important role in improving the quality of service provided. Other than reducing payment to medical suppliers, hospitals, and physicians, this program has played an important role in eliminating fraud.

The program led to the introduction of severe penalties to individuals or patients who engage in unhealthy behaviors like smoking, disobeying instructions of doctors, and use of too much alcohol. The information discussed above shows that this program brought plenty of benefits.




About the Author:



Axact

Money Making

I am passionate about educating university students about money and careers, and have been doing so since 2007. I see the same confusion and mistakes being replicated every year. The way I help is through Save the Student. I'm always on the look out for new contributors, so get in touch if you're wanting to get involved! Aside from the site, my main interests are travelling, writing, photography, webdesign, sailing, football and cycling.

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