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Medicare - A Short History
Medicare and Medicaid were established by the Social
Security Act in 1965. Original Medicare is national
health insurance designed for individuals 65 years of
age or greater, individuals with certain disabilities and
individuals with End-Stage Renal Disease (ESRD).
Medicare is administered by the Center for Medicare
and Medicaid Services (CMS), a federal agency.
Medicare was modified in 1984 by the Deficit
Reduction Act. Some provisions in this act
made the Medicare Risk Program more attractive to
managed care companies. In 1997 the Balanced
Budget Act (BBA) created the Medicare+ Choice
Program. In 1999 the Balanced Budget Refinement
Act established Medicare Advantage (MA) programs
which allow Medicare beneficiaries to choose private
health plan to administer Medicare coverage.
The Medicare Modernization Act of 2003 allowed the
Federal Government to move more beneficiaries to
private coverage by sharing cost with private
insurers. It also provided for prescription drug
coverage through Medicare for the first time in
history. This act was designed to increase private
sector infrastructure in order to prepare for the
impending baby boomer population.
Currently, Medicare consists of: Part A - Inpatient
Hospital, Skilled Nursing Facilities (SNF), Home Health
Services and Hospice; Part B - Doctors' services and
outpatient care; Part C - Medicare Advantage (MA)
Plans; and, Part D - Prescription Drug Plans (PDP).
You can learn more about medicare and
medicaid from www.medicare.gov or at the Center for Medicare and Medicaid
Services web site:
Center for Medicare & Medicaid Services
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Getting and keeping health insurance has become a
major challenge for many today. This
challenge stems from the rapid increase in the cost
of medical care. Medical products and services
consumption threaten to consume 20% of the Gross
Domestic Product (GDP) by 2015. See my article “An Answer to Sky High Health
Insurance Premiums” for
more discussion of this trend, and one possible
alternative.
This issue's lead article discusses the how we got
where we are with Medicare. And, the follow up
article discusses the Medicare Annual Election
Period. This is a critical time for
those who qualify for medicare. It is my sincere hope
that this information will be of benefit to my
readers.
However, the topic is complicated and getting more
so every day. If you have questions, I'm
available via email and phone.
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| Medicare Annual Election Period... |
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Medicare Advantage (MA) Plans are private insurance
company run health insurance plans that are
approved by Medicare. Sometimes these plans are
referred to as "Medicare Part C." Medicare
Advantage Plans can be any of the following:
- Health Maintenance Organization (HMO)
- Medicare Advantage Prescription Drugs (MAPD)
- Preferred Provider Organizations (PPO)
- Private Fee for Service (PFFS)
- Medicare Savings Account (MSA)
Medicare Advantage Plans provide all of your Part A
and Part B coverage and must cover medically-
necessary services. Generally, these plans offer
extra benefits, and many include Part D drug
coverage.
People turning 65 or otherwise newly becoming
eligible for Medicare can sign up as soon as they
qualify. Those who are already enrolled in Medicare
can select a new Medicare Advantage health plan for
2007 during the annual election period from November
15 through December 31, 2006.
As you may well imagine, this is a very busy time of
year for those of us who serve Medicare recipients.
I have been certified on Medicaid Advantage Plans
from
three firms: Secure Horizons, WellCare and Universal
Health Insurance. If you want to consider your
Medicare alternatives please call or phone as soon as
possible to schedule an in-home consultation.
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Contact us.. |
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| Medicare & You |
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If you qualify for Medicare, or are already receiving
Medicare benefits,
you should definitely read the
official government handbook "Medicare & You 2007."
You should already have received this
document in the mail. If you have not received this
document
click on the link below for a Texas specific soft
copy. This is an absolutely essential resource for all
Medicare recipients.
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Medicare & You 2007 |
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| Self Serve Insurance |
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During July I launched a new web site designed to
enable consumers to shop for insurance at their own
pace. This site provides access to the same
technology insurance agents use to generate health
insurance and life insurance quotes. In addition the
new web site has a glossary of terms, and a series of
articles written to help you make better insurance
purchase decisions.
Since launching my Self Serve Insurance web site
I’ve had a growing number of visitors and much
helpful input in the way of suggestions and
comments. Every month I’ll be adding new articles
and self-service alternatives. So, feel free to
visit my
new site often.
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Get a quick quote on-line with no phone calls.. |
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