Every respected worker works towards a decent retirement. Although not everyone thinks about their old age, it’s quite important since you may need some additional help. In America, however, being old and sickly is no longer scary. That’s all because of Medicare, which is a health insurance program intended for everyone who has just turned 65 and is above this age. In some cases, it’s also available for younger people, but only when they demonstrate their disability status or they suffer from renal or Lou Gehrig’s disease.
This program, supported by public funds, has many proponents, especially among older Americans, who can freely take advantage of its benefits. However, before enrolling in Medicare, you should know what plans are available and how to change your Medicare coverage. To find out all this information, you can visit Medicare org, where there are many useful tips on how to obtain the Medicare insurance step-by-step. And now, you’ll be familiar with some pros and cons of this innovative insurance program.
Available for everyone
Firstly, as surprising as it may sound, Medicare is literally for everyone. You don’t have to pay for any additional insurance package. Everyone who is 65 is automatically entitled to this social benefit. But for Medicare, millions of today’s American seniors would be left without any health coverage. Only before this program came into effect in 1966, there were around 9 million older people uninsured, which is a terrifying number. Thanks to the emergence of Medicare, now people even not realising, are guaranteed to have good health insurance.
Involves low costs
Moreover, Medicare is very cheap, almost free. For part A you don’t have to pay anything unless you want to expand your package. Part B includes the costs of $135,50 per month. However, in comparison to other expenses spent on doctor’s visits, prescriptions, medications or operations, for which you’d have to pay without this insurance, it’s almost nothing.
Provides people with professional medical care
Medicare also enables people to be under professional medical care around the clock. Many older people don’t have anyone who will take care of them, nor know to whom they should turn in case of disease or any other emergency. With this program close at hand, they don’t have to worry about their health condition any more. Hospitals’ priority is to provide all patients in need with the health care of the highest quality.
Easy access to prescription innovations
Not only hospitals profit from this program, but also pharmaceutical companies do. Thanks to Part D Prescription Drug Plans, they compete with one another, developing more and more innovative drugs tailored especially for seniors’ needs. Both the elderly and chemists significantly benefit from that. Patients have easy access to prescription drugs, for which they couldn’t afford otherwise, and pharmacies make a killing, selling the newest medications in plenty.
High taxes and extra hidden costs
On the other hand, opponents of Medicare claim that this program has many flaws. They emphasise still growing taxes and out-of-pocket costs that many people aren’t aware of. Increasing product prices aren’t encouraging for older adults who usually receive a comparatively low pension. They may also be surprised and not prepared when after 60 days in the hospital, they’ll be required to pay for their further stay.
Makes the federal budget suffer
Not only ordinary people suffer from huge expenses connected with Medicare, but it also touches the overall federal budget. In 2018, Medicare cost $731 billion per year, which is around 15% of the whole budget. And this number is likely to grow in a few years. That’s why many people are against the Medicare program, asserting that public money could be spent differently, for example, on education, poverty, or social justice.
Furthermore, Medicare isn’t only bad because of money and costs, but it’s also connected with overcrowded hospitals where people go with all minor and trivial ailments. Having the insurance package, they want to take advantage of it fully, and can’t understand that others may be more suffering. It only makes unnecessary chaos in these public places, where there is a lack of doctors who could help all patients.
Struggling with a shortage of professionals in hospitals, they hire more and more young resident physicians. However, it may be a little bit risky since there has been much evidence of fraudulent doctors who impersonated specialists and prescribed medications that they shouldn’t prescribe. In 2017, there were 412 cases of doctors charged with fraud. So, Medicare has become a temptation for people to commit medical crimes, which is frightening when human health is taken into consideration.
Summing up, at first sight, Medicare seems to be a perfect insurance program targeted at the old. You don’t have to pay for it, but you are eligible for it anyway. Nevertheless, after careful analysis, it also has some drawbacks, and everyone should be aware of potential handicaps while using it. It may protect you against long queues in hospitals and the blankness on your face, hearing that you must additionally pay for some services.