Question

What is the medicare act

Answer 1

The answer is written below…

Step-by-step explanation:

The term "Medicare Act" typically refers to the legislation that established the Medicare program in the United States. The Medicare program was signed into law on July 30, 1965, by President Lyndon B. Johnson as an amendment to the Social Security Act. The Medicare Act provides health insurance for Americans aged 65 and older and certain younger individuals with disabilities.

Medicare is divided into different parts:

1. **Part A (Hospital Insurance):** Covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care.

2. **Part B (Medical Insurance):** Covers outpatient care, doctor's services, preventive services, and some home health care.

3. **Part C (Medicare Advantage):** Allows private insurance companies to offer Medicare benefits. It includes Part A, Part B, and often Part D (prescription drug coverage).

4. **Part D (Prescription Drug Coverage):** Provides prescription drug coverage through private insurance plans.

The Medicare Act has undergone amendments and expansions over the years to adapt to changing healthcare needs and demographics. It has played a crucial role in providing health coverage for millions of Americans, especially seniors and individuals with disabilities.

Answer 2

The Medicare Act, part of the Social Security Act of 1965, established Medicare and Medicaid to help the elderly and low-income individuals with medical expenses. Medicare initially served those over sixty-five and has expanded over time, while the ACA aimed to further improve the healthcare system by ensuring access to affordable insurance for all Americans.

Step-by-step explanation:

The Medicare Act, passed as part of the Social Security Act of 1965 during the Johnson administration, established Medicare as a program to cover the medical expenses for Americans over the age of sixty-five. It marked a significant chapter in U.S. social welfare history by providing a safety net for the elderly, who were among the nation's poorest and most disadvantaged citizens. This act has been instrumental in ensuring that seniors receive necessary medical coverage, which is federally funded. It also included the creation of Medicaid, which provides health care for low-income individuals and families. Despite opposition from the American Medical Association due to concerns over a national healthcare system, the program garnered widespread support from citizens as it offered benefits across all social classes. Over the years, the original Medicare coverage has been expanded to include certain disabled individuals and self-employed people in particular occupations.

The Affordable Care Act (ACA), also known as Obamacare, was later introduced as the first significant overhaul of the American healthcare system since Medicare and Medicaid. The ACA aimed to provide accessible and affordable health insurance to all Americans, compelling everyone to have some form of health insurance and seeking to reduce overall health costs. It is funded by additional taxes, including an increased Medicare tax and taxes on high-income earners' unearned income, health insurers, and medical device manufacturers.