Medicare 101 On July 30, 1965, President Lyndon Johnson signed H.R. 6675, more popularly known as the Medicare law, some 20 years after President Harry Truman called for the creation of a national health insurance fund. Today, more than 63 million people get health coverage through Medicare, the cost of which runs nearly $1 trillion annually. Medicare coverage consists of two main parts. Part A covers inpatient hospital insurance, including charges for the room, meals, and nursing services. It also covers hospice care and home health care. Part B is medical insurance for physician’s services, whether as an inpatient or outpatient at a hospital, other health care facility or in a doctor’s office. Lab tests, physical therapy, and ambulance services are also covered and Part B covers 100% of the cost of preventative services as well as an annual wellness visit. Part B is optional coverage for which the monthly premium amount ranges from $148.50 to $504.90, depending on inc
Investment and economic observations by N. Russell Wayne, CFP, MBA. Mr. Wayne is the president of Sound Asset Management, inc. and former Managing Editor of The Value Line Investment Survey.