Medicare

Satisfactory Essays
Policy Topic Search and Selection
Stephanie Bennett
HCS/455
December 28, 2012
Jonathan Bibb

Medicare Medicare is a federal insurance program that was created to aid the elderly with their medical bills. The Medicare program was created 40 years ago. The original benefits under Medicare did not include drug coverage. Medicare has since added drug coverage to bridge the gap under the original available benefits. The Medicare program is facing serious financial challenges. The projected expense for medical services among the elderly is said to exceed the available tax revenue needed to finance the program. The elderly has reported that they are satisfied with the services available under the Medicare program. Medicare beneficiaries report that they have excellent access to care. They have excellent access to prescription drug, schedule appointment with their physicians, have medical tests, and follow-up treatments. It is reported that the elderly have greater access to medical services than patients covered by private insurance carriers. Preventative services are one of the primary benefits available to the elderly. Even though Medicare provides excellent benefits, the elderly still spends a large amount of their personal income on out-of-pocket charges for medical services. Medicare works hard to control the cost of health care through structured payment system and regulatory controls. To that end, Medicare is now a leader in developing payment systems that have been adopted by other health care payers. Medicare has experienced tremendous success in its payment for hospital and medical services. Medicare is a government entity and is not able to negotiate or set the price for pharmaceutical. Due the rising cost of health new strategies are to the help the elderly save for medical expenses prior to retirement. To that end it is suggested that the elderly contribute to a personal Medicare Health Account. Monies contributed to this account



References: Davis K, & Collins S. (2005-2006). Medicare at 40. Health Care Financing Review 27(2):53-62. Moon M. (2006). Medicare: A Policy Primer. Baltimore, MD: Urban Institute Press. [pic][pic]

You May Also Find These Documents Helpful

  • Powerful Essays

    Medicare

    • 5354 Words
    • 22 Pages

    Medicare: Past, Present, and Future The History of Medical Insurance The idea for a national health plan was not something considered to be a priority of American government prior to the 1940’s. President Harry S. Truman was the first president to push the issue to the United States Congress in 1945. Truman called for the creation of a national health insurance plan that would be aviailable to all Americans. He envisioned coverage for hospital visits, dental care, nursing care, and doctor’s visits…

    • 5354 Words
    • 22 Pages
    Powerful Essays
  • Good Essays

    Medicare

    • 342 Words
    • 2 Pages

    MEDICARE Prior to 1965, it was almost impossible for people 65 years and older to get a private health insurance. Medicare was enacted in 1965 to counter the growing health care costs and provide access to the elderly, making health care a universal right for all Americans 65 years and older. (Medicare & You, 2013) The rapid growth in the baby boomers population that began in 2011 caused a burden on the government by adding to the already high deficits. Medicare enrollment is expected to double…

    • 342 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Medicare Comparison

    • 601 Words
    • 3 Pages

    Medicare and Medicaid There are various types of insurances in today's world. Two of them being Medicare and Medicaid. Founded in 1965 as part of President Lyndon Johnson's "Great Society", they share differences and few similarities. They are social insurance programs that allow the financial burdens of illness to be shared among health and sick individuals, and affluent and low income families. Medicare is a federal program that provides health coverage if yon are 65 years or older, are a younger…

    • 601 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Medicare Observation

    • 255 Words
    • 2 Pages

    the Medicare rule for observation is very complex and confusing. The intention of the rule is to set clinical criteria for observation, and rapidly discharge the patient in twenty-four hours. However, this does not always happen. Some observation patients can stay up to ninety-six hours before being discharged or switched to observation status. One of the problems is individual health care organization interprets the Medicare rule differently. Then if the patient had a managed care Medicare carrier…

    • 255 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Medicare and Ssi

    • 887 Words
    • 4 Pages

    original Social Security mandate was also expanded to include Medicare and Medicaid (Advance).” Some other changes more recently have added more benefits to this well known plan. “The most significant legislative change to Medicare--called the Medicare Modernization Act or MMA--was signed into law by another President from Texas, George W. Bush, on December 8, 2003. This historic legislation adds an outpatient prescription drug benefit to Medicare and makes many other important changes (Cms).” With the…

    • 887 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Maintain Medicare

    • 362 Words
    • 2 Pages

    obtain Medicare is very comforting. Medicare is a federal health care program that was put in place by Congress in 1965 to provide health insurance to Americans sixty-five and above. Medicare was then expanded in 1972 to also cover younger individuals who are disabled (Kaiser, 2012). Traditional Medicare provides coverage to all Americans sixty-five and older without taking into account income. Prior to Medicare a whopping fifty percent of seniors lacked health coverage (Center for Medicare Advocacy…

    • 362 Words
    • 2 Pages
    Good Essays
  • Better Essays

    Medicare Crisis

    • 1231 Words
    • 4 Pages

    Rolunda Baker Medicare Crisis Medicare is another project of Lyndon Baines Johnson Great Society. Spending is obviously out of control. On June 5th the government announced that the Medicare Trust Fund would go broke if something isn’t done with the spending (nationaldebt). In 1965 when LBJ started Health and Medicare, the Total Federal Spending for the year was $101 Billion. By the year 2000 we will spend over 4 times than amount on Health and Medicare alone, and Medicare will equal the annual…

    • 1231 Words
    • 4 Pages
    Better Essays
  • Better Essays

    Medicare Modernization

    • 1143 Words
    • 5 Pages

    December 8, 2003, President Bush signed into existence the Medicare Prescription Drug, Improvement, and Modernization Act (CMS, 2003). This Act over the years is intended to provide prescription drug benefits to seniors. It will also provide subsidies to insurance companies, health maintenance organizations, and would allow private plans to compete with Medicare (CMS, 2003). Why were changes to Medicare deemed necessary? The changes to Medicare where deemed necessary, because many seniors and elderly…

    • 1143 Words
    • 5 Pages
    Better Essays
  • Good Essays

    History of Medicare

    • 749 Words
    • 3 Pages

    History of Medicare HCS 530 Professor Michele Fletcher December 4, 2006 Background The Social Security system, which was created as an economic safety net for older Americans, was failing to protect them against the greatest single cause of economic dependency in old age which was the high cost of medical care. The need for a social insurance program to provide older Americans with reliable health care coverage started within the Social Security Administration…

    • 749 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Medicare Overview

    • 1393 Words
    • 6 Pages

    Medicare Overview This paper is an overview of the Medicare system and how it works. The document is intended for adults who will be applying for Medicare benefits at the present time, or sometime in the near future. I know that Medicare can be very confusing to most especially to those of you who are just aging into Medicare. Truth be told Medicare can still be very difficult to understand for those of you who are past 70, and have been on Medicare for a while. Hopefully by…

    • 1393 Words
    • 6 Pages
    Powerful Essays