14.5: Medicare
Title 18 of the Social Security Act Amendments of 1965 created a healthcare fund for seniors - anyone over the age of 65. In 1973 two other groups were added to the list: anyone receiving social security benefits, and those with end-stage renal disease (ESRD) who require dialysis (HHS/CMS, 2009). Medicare began with Part A and B, and more recently added Part C and D. The different parts of Medicare are funded through federal employer and payroll taxes, as well as premiums for those who sign up for additional coverage. Since it is a federal program, it has the same coverage no matter what state the beneficiary resides in, and anyone who qualifies can enroll - regardless of how much money they make. There are specific income-based subsidies for premiums though, designed to assist low-income seniors (Shi & Singh, 2017). Those who don’t qualify for Medicaid can also purchase supplemental insurance coverage (Medigap) from private insurance companies, which can help to offset the costs of the typical Medicare deductibles and coinsurance (Medicare.gov, n.d.-b).