Brief History of the Medicare Program - Established in 1865 and administered by the Center for Medicare and Medicaid Services (CMS). The program is divided into two parts, Part A and Part B. Part A is the hospital insurance, and Part B is the medical insurance. The cost of Part A is paid through FICA and Self-Employment Tax contributions. Part B is financed through a combination of participant permium payments and federal subsides from the US general fund.
Medicare Supplement Insurance - Otherwise known as Medigap Insurance provides coverage to plug the gaps in coverage that the Medicare Program does not cover. These plans are sold by private insurers, and not by a government agency. Any representation that an agent marketing these policy is an employee of government is a strict violation of law. Medicare supplement policies will only provide benefits for services that are covered by Medicare, such as deductibles, coinsurance, and expenses incurred after Medicare has paid the maximum amount. Medicare Supplement policies vary in price and covered services. It is wise to find an agent that you can trust to explain the differences in policies and assist you in deciding which plan is best for your particular case.
Please telephone Linda at (919)622-1947 for a free and immediate quote.
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