ch 30 - economics and healthcare later in life Flashcards
purpose of social security
to provide monetary benefits to older retired workers (>65) to prevent or minimize their dependency on younger members of society
purpose of supplemental security income
provide a minimum level of economic support to
persons > 65 and older, blind, or disabled
regardless of their earning power in early life
or when capable of working
purpose of medicare
provide almost universal health care for those who are eligible for Social Security (>65)
what is covered by medicare part a (4)
(hospital insurance plan)
- acute care
- short term rehab (SNF or home)
- hospice
- inpatient psych care
what is covered by medicare part b
outpatient/ambulatory services
- choice of PCP
- referrals usually not necessary
what is covered by medicare part c
health maintenance
-must have referral from PCP
what is covered by medicare part d
prescription drugs
who is eligible for medicare part d
all people with medicare
who is eligible for medicare part c
those who have medicare a and b
who is eligible for medicare part b
based on income reported to IRS
who is eligible for medicare part a
adult >65
who is eligible for social security
- atleast 62 yo
- totally/permanently disabled
- or married to eligible partner
who is eligible for medicaid
- low income children
- pregnant women
- permanently disabled
- 65+ who meet these criteria:
1. income and assets
2. categorial need
3. lack of ability to afford insurance premiums (including medicare)
what do the majority of people use medicaid for
long-term nursing home care for older or disabled adults
-and protection from spousal impoverishment
options for financing health care other than social security, medicare or medicaid (6)
- indian health services
- program for all-inclusive care for the elderly (PACE)
- care for veterans
- TRICARE for life
- veteran aid
- long term care insurance
