What Is Medicare? Am I Entitled To Benefits? How Is It Funded?
Medicare is health or medical insurance provided to all senior citizens those who have attained the age of 65 years or people who are physically disabled or if they have any kidney related diseases. The insurance provides them compensation for hospitalization in case of accidents or illness. It also provides compensation for visiting the doctor and doctoras fee.
Unlike private health insurance, who are managed by private organizations, Medicare is controlled by government bodies. Upon turning 65 years of age, any citizen is automatically entitled to the Medicare benefits. People with disabilities or kidney related diseases are also entitled to Medicare benefits.
The amount for the Medicare is deducted from the salary of employees. The amount is determined using a certain percentage which is usually 1.5 percent of taxable income. The main source of fund for the Medicare comes from the salaried group. The salaried class pays a certain percentage of their taxable income compulsorily every year towards Medicare.
The aim of Medicare Insurance is to provide affordable insurance to any eligible citizen 65 years of age or over, or to citizens with disabilities or with any kidney related disease. Benefits include compensation for costs incurred during hospitalization or from doctor’s fees.
The major funding for Medicare comes from the payroll tax, the tax is known as FICA or Federal Insurance Contribution Act taxes. The FICA includes both social security tax and Medicare taxes. This money is put into a trust fund which is later used to pay hospital charges, doctoras fees and other medical expenses of the patient.
Cigna providers is a health care government organization that provides various health insurance and services. Providing a prompt, efficient and reliable service, Cigna providers deliver a variety of Medicare services and can help people attain services and process insurance claims.
If you want to claim on your Medicare insurance or have any issues, contact your Cigna provider. In addition to Medicare services they also provide a low cost health insurance plan with many benefits at an affordable rate. Cigna dental care insurance plans provides dental treatment coverage.
Every eligible senior citizen are entitled to Medicare benefits as soon as they attain the age of 65 years you can contact any of the local social security offices to enquire about it. The salaried people are paying and funding for the Medicare through the compulsory taxes that they are entitled to hence you have full authority of claiming the Medicare if you are a senior citizen or have any disability.
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Written by Don Bethune on December 8th, 2009 with
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