Before the development and implementation of the Medicare system in the United States, only half of older adults had adequate health insurance. Currently, Medicare provides health insurance to seniors age 65 and older without any strings attached. That means no senior can be denied Medicare coverage because of income status or a medical history.
Medicare was first introduced under the Social Security Act in 1965, which was signed into law by President Lyndon B. Johnson. Today, Medicare is still in place for U.S. citizens who are 65 and older. If you are looking for Medicare plans in Arizona, expect a number of options.
Part A of the system covers the cost of hospital visits, while Part B covers outpatient medical services and certain prescriptions. Medicare Advantage health plans, also called Part C, are a substitute for the Part A and Part B plans which are offered by commercial insurance companies. There is also a Part D, which was created to subsidize the cost of prescription drugs to Medicare patients.
Medicare plans in arizona are essential to providing good quality-of-life care for seniors. Data suggests that typical senior households only have about $67,000 in savings, while it would cost a combined $276,000 for health insurance coverage for both man and woman. Medicare plans in arizona provide this crucial coverage so that older Americans will not have to worry about their health as they get older.
However, there might be a problem looming on the horizon. The impending retirement of the Baby Boom generation, one of the largest generations in American history, is expected to take quite a large toll on Medicare funds. By 2030, more than 80 million Baby Boomers will be retired and in need of quality Medicare assistance. Medicare plans in Arizona are solid now, but in 20 years, they may not be.