Medicare turned 50 on July 30, 2015. 50 years later Medicare continues to cover hospital and doctor visits for enrollees and now includes preventive care and medications. Below you will find a few important thing everyone should know:
1. How much you pay in: Most workers will pay 1.45% of his or her earnings into Medicare. Employers will match this amount.
2. Premium amounts: Most enrollees will not pay a premium for Medicare Part A. Medicare Part B premium is $104.90 in 2015, however; the monthly cost is higher for those with modified adjusted gross income above $85,000 for individuals. Part D premium amounts will vary according to the selected plan.
3. What is not covered: Medicare will not cover dental care, hearing aids, contact lens, or eye glasses. Medicare will not pay for more than 100 day stay in long care such as assisted living or nursing home stays.
4. All most all older Americans are covered by Medicare: In 1996, there was 19 million people enrolled. This number has increased each year to 53.8 million in 2014.
The Medicare program continues to provide people with valuable health care insurance to those who are 65 and older, regardless of his or her health status.