Medicare exists as a government-funded health insurance program to provide people age 65 and older with various aspects of medical care. Individuals automatically become eligible for Medicare when they reach age 65, although younger individuals with specific disabilities may also warrant coverage. Medicare Part A primarily covers hospital-type services and does not require payment; Medicare Part B resembles regular medical insurance and covers outpatient expenses. Medicare Part B requires payment of a small premium, but is a large factor in routine health maintenance.
History
Signed into law as the Social Security Act Amendments by President Lyndon Johnson on July 30, 1965, Medicare provided basic hospital care to all individuals over the age of 65. Prior to this time, individuals over the age of 65 encountered difficulty in getting coverage with private health insurers. As noted by the National Academy of Social Insurance, the establishment of Medicare made access to health care a universal right for older individuals. At the bill signing ceremony, President Johnson enrolled former President Harry Truman as the first beneficiary of Medicare.
Medicare Part B
According to the Centers for Medicare and Medicaid Services, most people elect to pay the low monthly fee for the coverage offered in Medicare Part B. This component of Medicare covers common services, tests and treatments as well as physician visits. Usually, the individual pays for 20 percent of the Medicare-approved amount for a service, test or treatment. Check the plan thoroughly because not all services will meet eligibility for coverage.
Services Covered
Medicare Part B provides coverage assistance for a very broad range of medical and health-related areas that include general medicine, telemedicine, dialysis and certain transplant procedures as well as their accompanying immunosuppressant drug therapy. For more information and specific details, access the actual list at the "Frequently Asked Questions" link under "Help and Support" on the Medicare.gov website. Search under "Coverage."
Services Not Covered
Medicare Part B does not cover routine or annual exams. Part B also does not cover chiropractic services, cosmetic surgery, most prescription drugs, and routine eye and hearing exams. The Medicare.gov website also lists in more detail the services not covered under Medicare Part B.
Medicare Parts C and D
Medicare Part B clearly leaves some gaps in health care provision that Medicare Parts C and D seek to fill. Since 1997, private insurance companies have offered Medicare Advantage, often called Medicare Part C. These health plans, approved by Medicare, may offer individuals more coverage, such as vision, hearing, dental and urgent care. Medicare Part D, enacted in 2003, offers a prescription drug option to all Medicare beneficiaries. Plans differ in cost and the drugs they cover.
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