The Elderly and health Care

The Elderly and health Care - Cordeiro1 Samuel A. Cordeiro...

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Cordeiro 1 Samuel A. Cordeiro Soc 101-01 Prof. Ranuga February 22, 2008 The Elderly and Heath Care As time passes by, one thing that is inevitable is aging. Whether we like it or not we get older day by day. However, for the elderly, those who are aged 65 or older, life may not be so simple anymore. Many, if not all become frail, many become depressed, while others live life full of joy. An obstacle that all elderly must face is health care. It is unfortunate, but many in their older age have to make the decision to buy prescriptions or to buy food or to pay their rent. In 1959, 35 percent of all people over 65 lived in poverty. That figure began to drop during President Lyndon B. Johnson’s War on Poverty in the mid-1960s, when Medicare was enacted and Social Security benefits increased. By the early 1970s, poverty rates among the elderly had dropped to below 15 percent, and today they float around 10 percent (DeNavas-Walt et al. 2005). This was made possible through the means of Medicare, where 95 percent of the elderly are covered. In 2004, nearly forty-six million Americans lacked health insurance, of that, less than 1 percent of the elderly lacked coverage. Medicare is a social insurance program administered by the United States government, providing health insurance coverage to people who are either age 65 and over, or who meet other special criteria such as a disability. It was originally signed into law on July 30, 1965 by President Johnson. Medicare is partially financed by payroll taxes imposed by the Federal Insurance Contributions Act (FICA) and the Self- Employment Contributions Act of 1954. In the case of employees, the tax is equal to 2.9%
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Cordeiro 2 (1.45% withheld from the worker and a matching 1.45% paid by the employer) of the wages, salaries and other compensation in connection with employment. The way Medicare works is a bit complex. To be broad and simple, a patient must pay a
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This note was uploaded on 03/17/2010 for the course HIS 101 taught by Professor Smith during the Spring '10 term at University of Maryland Baltimore.

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The Elderly and health Care - Cordeiro1 Samuel A. Cordeiro...

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