The Importance of Medicare

Medicare is the primary health insurance policy for almost all Americans age 65 and over and people with long-term disabilities

. Medicare covers only half of beneficiaries' health care costs. The other half is paid for out of beneficiaries' pockets either directly or through supplementary private insurance.

Have you ever stopped to fully consider the importance of Medicare? Hospital financial managers can easily spend so much time focusing on the program's inadequate payments that consideration of the program's strengths and the views of its other stakeholders-- the roughly 40 million beneficiaries it serves and the policymakers responsible for its funding and operations--become lost in the fray.

Yet nothing these various viewpoints are important. Although the opinions of individuals within these groups differ, key collective aspects of each of these perspectives present worthwhile insight into what is arguably the nation's most successful, and certainly most expensive, federal health program. At the very least, revisiting the foundation of these positions can lead to greater appreciation of Medicare's importance and the challenges each group must face.

The survey found that Medicare beneficiaries are 2.7 times more likely than those covered under employer-sponsored plans to rate their health insurance as excellent and are less likely to have negative experiences with their insurance coverage.

Of course, concerns do persist, including the fact that on average, beneficiaries spend about 22 percent of their incomes for out-of-pocket Medicare and other healthcare expenses.

Although most Medicare beneficiaries still have supplemental coverage to Medicare, this type of coverage is believed to be less prevalent today than in the recent past. Even with relatively low enrollment levels, Medicare Choice plans have provided an important source of supplemental coverage across all demographic groups except residents of rural areas, although benefits--particularly prescription drugs--have become less generous in recent years.

Medicare beneficiaries can simultaneously cherish the benefits the program provides and yet be legitimately concerned about the gaps in these benefits and question whether these gaps can be filled, at what cost, and by whom.

It is indeed important nowadays to get an insurance that will give benefits for our elderly. So why not start now? Orange County Medicare helps you by providing caring, unbiased education and support so you can make decisions about your Medicare insurance.

The Importance of Medicare

By: Cathleen

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