How Is Medicare Working For Me?
What Is Medicare?
Medicare is a government run insurance program that helps out those who are unable to pay for their medical needs by themselves. This is mostly a program that is used by senior citizens. They are usually the only ones who qualify for Medicare. It is specifically targeted for them because of the fact that they usually are not bringing in any income. At the same time, this is the group of people that is most likely to need the most health care.
How Does It Work For Me?
Medicare is actually working for you all the time so long as you are working. If you are receiving a paycheck, then you are paying into the Medicare system. This is a great thing that will help you to not have to worry about making your own contributions into a system like this. In other words, it is an entitlement program, so it is going to help work to take care of you.
How Does The Payment Structure Work?
One of the things that many people do not understand is how the Medicare payment structure works. Currently, if you are paying into Medicare, then you are paying for those who are currently on the system. The nice thing about how this works out is that when you are ready to receive the benefits, the workers of that day will be paying for the benefits that you are receiving. It is a kind of full circle effect that has worked well for many decades now.
Will The System Remain?
There is some debate as to if the system will be able to continue to survive. There is no definite answer to this question, but some worry that Medicare will not be able to survive for all that long.