{"id":8311,"date":"2011-07-18T05:56:49","date_gmt":"2011-07-18T12:56:49","guid":{"rendered":"https:\/\/www.gasdetection.com\/?page_id=8311"},"modified":"2014-08-25T15:16:46","modified_gmt":"2014-08-25T22:16:46","slug":"look-health-care-financial-planning","status":"publish","type":"page","link":"https:\/\/www.gasdetection.com\/interscan-in-the-news\/magazine-articles\/look-health-care-financial-planning\/","title":{"rendered":"A Look At Health Care And Financial Planning"},"content":{"rendered":"

\"Health<\/a><\/p>\n

July 18, 2011<\/p>\n

A Look At Health Care And Financial Planning<\/p>\n\"Piggy\n

By\u00a0 Michael D. Shaw<\/p>\n

One of the proudest portions of LBJ’s Great Society was Medicare, passed in 1965, as an amendment to the Social Security Act of 1935. While the cost of health care was vastly lower back in the 1960s, few resources were available to those aged over 65 or retired, since nearly all health insurance was provided by employers to their workforce. In fact, by 1958, nearly 75 percent of Americans had some form of private health insurance coverage. In those days, though, the coverage was generally limited to benefits for “catastrophic” situations.<\/p>\n

Nowadays, Medicare covers most persons age 65 or older, and consists of four related health insurance plans: a hospital insurance plan (Part A); a supplementary medical insurance plan (Part B); and two privately run plans, Medicare Advantage (Part C) and prescription drug coverage (Part D).<\/p>\n

As is only too well known, Part A is financed via Social Security payroll taxes, and “unforeseen” demographic changes, including people living longer, have stretched the program to the breaking point. Not as well known is that Medicare, although limited to those individuals aged 65 and over, influences virtually all aspects of how health care is delivered\u2014to all age groups\u2014in this country.<\/p>\n

Needless to say, given its 46-year history, Medicare has become exceedingly complicated, replete with a Byzantine bureaucracy that is perhaps unmatched in the entire Federal government.<\/p>\n

Since there are gaps in what Medicare will cover, such as…<\/p>\n