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Monday, April 20, 2009

Understanding Medicare, The Benefits And How Is It Funded.

By Don Bethune

Medicare is health or medical insurance provided to all senior citizens 65 or over, or to people who are physically disabled or with any kidney related diseases. In the case of accidents or illness, Medicare insurance provides compensation for hospital costs and doctor's fees.

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.

Medicare is funded through a tax, which is a compulsory deduction from all employees salaries. This salaried group pays a percentage of their taxable income every year towards Medicare. The amount deducted is usually 1.5 percent of taxable income. This Medicare tax provides the main source of funding for Medicare.

Anyone over the age of 65 can benefit from Medicare insurance, getting compensation and subsidy in case of hospitalization and doctoras fee. The aim of this health insurance is to provide affordable insurance to all eligible citizens of the country.

Federal Insurance Contribution Act taxes (FICA), provides the majority of the funding for Medicare. The FICA includes both social security tax and Medicare taxes. Placed into a trust fund, this money is later used to pay hospital charges, doctoras fees and other medical expenses of the patient.

Cigna providers are a health care government organization that provides various health insurance and services. The Cigna providers also provide various services in the Medicare and helps people to attain their claim and process them. The Cigna services are very prompt and efficient that they are highly reliable.

Contact your Cigna provider if you want to claim on Medicare insurance or have any issues. In addition to Medicare services they can also provide low cost health insurance plans at an affordable rate, with a variety of benefits. Cigna can also provide dental treatment coverage.

Any senior citizen aged 65 or over, or any person with a disability, is entitled to Medicare benefits. If you have any enquiries contact your local social security office. Any salaried person is paying and funding for Medicare through compulsory taxes.

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