What Premiums Are There For Medicare?
What Is Medicare?
Medicare is the government run health care program that many of the nation's seniors are on. It is an entitlement program that is used by those who are old enough to be qualified to get on a plan. The program helps to cover the medical expenses of our senior aged population. However, the program is not able to cover all expenses. The government sets aside how much money will be used to fund Medicare in its yearly budget.
What Costs Are Associated With This Program?
The truth is that the people who are on the program are not paying anything to be on it. Medicare is something that the government guarantees to each American citizen. Medicare is funded through the hard work of the working class at the moment. Basically, a little bit is taken out of the paycheck of each worker to fund this program. The people who are on Medicare are using the funds obtained from other individuals for their health care costs.
This Doesn't Seem Fair
The truth of the matter is that the Medicare system does even itself out in the end. Although it seems a little unfair at the beginning, you are going to understand that this program in fact does get evened out. Even though the seniors of today are getting their health care through the money of working people, they were the ones who paid for the seniors from the last generation. Basically, each generation pays for the health care of the next generation. Then, when the current generation is old enough, they will have their Medicare costs covered by the generation that is to be. It is a cycle like this that makes the system become fair in the end.