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Medicare logoMedicare information changes frequently. Please refer to the official website for Medicare. Also, use the official website for Medicare to find Medicare-approved prescription drug plans.

Co-pay is used throughout this Website to mean both coinsurance and copayment.

Medicare Watch

Presidnet TrumanAccording to the latest Medicare report from its Board of Trustees, Medicare Part A (hospital insurance) trust funds from payroll taxes and beneficiaries' premiums and co-pay will remain solvent until 2026. After this, there will be enough funding to pay 91% of the Part A (hospital) costs.

Medicare Part B (doctors and other outpatient bills) and Part D (prescription drugs) are financed by both federal appropriations (about 75% of programs' costs) and beneficiaries' premium and co-pay (about 25%). Beneficiary premiums and co-pay may change each year in order for the beneficiaries to continue pay 25% of total costs for these programs as required by law.

Medicare's administrative costs are about 1% of total expenditures.

Former President Truman was the first person enrolled in the Medicare program.
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The Egyptian Area Agency on Aging is a partner in the Illinois SMP program. The Illinois SMP program empowers consumers to prevent, detect, and report health care fraud. We do this by providing outreach and education on health care fraud topics. The Illinois SMP program is funded by the Administration on Aging and is administered by AgeOptions in Illinois.

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