Medicare First Offered Explained for Students (Easy Guide)

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This question relates to medicare first offered and requires a structured academic response.

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Original Question

Medicare was first offered to retired Americans in July 1966. Today, retired and disabled Americans who are eligible for Social Security benefits automatically qualify for Medicare coverage without regard to income. Coverage is offered under two coordinated programs: hospital insurance (Medicare Part A) and medical insurance (Medicare Part B). Medicare Part A is financed through payroll taxes. Initially, coverage applied only to hospitalization and home healthcare. Subsequently, coverage for extended care in nursing homes was added. Coverage for individuals eligible for Social Security disability payments for over two years and those who need kidney transplantation or dialysis for end-stage renal disease also was added. Medical insurance under Medicare Part B is optional. It is financed through monthly premiums paid by eligible beneficiaries to supplement federal funding. Part B helps pay for physicians’ services, outpatient hospital care, medical services and supplies, and certain other medical costs not covered by Part A. At the present time, Medicare Part B does not provide coverage of prescription drugs. (Medicare Parts A and B are discussed in greater detail in chapter 7.) In January 2006, Medicare Part D was implemented to provide prescription drug coverage for Medicare beneficiaries who select this option. Commercially offered Medicare plans, called Medicare Advantage plans, are sometimes referred to as Medicare Part C. They offer Medicare Parts A and B coverage and often include vision, dental, and hearing benefits (CMS n.d.b). Medicaid Summeraize

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