Health Care

Medicare is a federally governed insurance program, primarily serving Americans over the age of 65, younger disabled meeting specific disability criteria, and dialysis

The Patient Protection and Affordable Care Act (Obamacare) had mame dramatic changes in the field of the health care system, especially in Medicare, that will seriously take effect in American seniors. Indeed, much of the health law’s new spending is financed by spending reductions in the Medicare program. In addition to the provider payment reductions, Obamacare significantly reduces payments to Medicare Advantage (MA) plans by an estimated $156 billion from 2013 to 2022.( Elmendorf, letter to Speaker Boehner). About 27 percent of all Medicare beneficiaries are enrolled in MA plans, a system of regulated and private plans competing against each other as an alternative to traditional Medicare. MA plans are attractive to beneficiaries because they offer more generous and comprehensive coverage than traditional Medicare by capping out-of-pocket costs and offering drug coverage to a rasonable

The Medicare program is being perceived that it will go bankrupt in about 10 years unless there is major reform. There are six recommendations that should be reformed for the protection of the program for future generations. The program must protect retirees from an economic healthcare disaster. The cost of the program must be shared and this will motivate benefactors to reduce cost by adding accountability to the program. Reducing Medicare expenditures will have a much larger impact than increasing taxes. Calculating the retirement age in correlation to life

The Medicare offers three types of insurance coverage. Medicare part A hospital insurance covers inpatient care in hospitals, and skilled nursing facilities. It also helps cover hospice care and some home health care. This coverage does not cover custodial or long-term care (Center for Medicare and Medicaid Services, 2013). Medicare also offers part B Medical insurance that covers preventative care and outpatient care. Prescription drug

Medicare is the federal health insurance program for people with certain disabilities, end stage renal disease, and for those who are over the age of 65. There are four different parts to Medicare, part A, part B, part C, and part D. Medicare Part A, also known as hospital insurance, covers inpatient hospital stays, care in nursing facilities, hospice care, and some in home health care. Part B is often referred to as medical insurance; it covers certain doctors’ services, outpatient care, medical supplies, and preventative care services. Medicare Part C, otherwise known as Medicare advantage plan is offered by a private

Medicare is provided by the government as a means of offering health insurance to those 65 years and older. If you have a Medicare plan, yours will be one of various plans offered that will cover certain things. Below is basic information on the four main plans and what they cover, so you know what you can expect to get.

Medicare provides federal health insurance coverage to millions of elderly, and disabled Americans. As of 2015 data by the Kaiser Family Foundation, Medicare covers 55 million people. Medicare covers people age 65 and older, people younger than 65 with certain disabilities, and people of all ages with End-Stage Renal Disease, or amyotrophic lateral sclerosis (Medicare, 2015). Medicare consists of several different components, including: Part A, Part B, Part C, and Part D. This Federal health insurance program, Medicare, is financed by several sources, including taxes, revenue, and premiums. Each part of Medicare has different eligibility requirements and provides different benefits, and covered services.

Since 1965, Medicare has been attempting to provide low cost, guaranteed access to much needed healthcare for senior citizens over the age of 65 and other age groups that suffer from disabilities and terminal diseases. These people represent some of the most vulnerable population groups in the United States. Most do not work, and rely on Medicare to provide them the access to healthcare they need. Unlike privatized health insurance companies, Medicare is a social insurance program that is paid for through federal mandates and tax payer funds. Billions of dollars are spent annually on over 50 million Americans in need (Alonso-Zaldivar 1). The care structure itself is broken into several main parts: Medicare Part A covers hospital costs, Part B cover most outpatient care costs, and Part C and D cover prescription drug costs through dealing with other private insurance. Yet, the upcoming election in November is threatening to change and alter the structure. Each candidate has his own plan to deal with Medicare; both are trying to reign in the costs of operating Medicare, but with some elements being obviously more beneficial for Medicare recipients than others.

Medicare is health insurance that mainly covers seniors over the age of 65 and disabled people who qualify for Social Security/Disability. Medicare is funded Medicare is funded through 2 trust fund accounts held by the U.S. Treasury. The funds can only be used by Medicare.

Fifty years ago, Lyndon B. Johnson signed the Medicare program into law. “It has been a reliable guarantor of the health and welfare of older and disabled Americans by paying their medical bills, ensuring their access to needed health care services, and protecting them from potentially crushing health expenses.” (Hamel, Blumenthal, Davis, & Guterman, 2015, p. 479). With the encouragement of George W. Bush, congress passed the Medicare Modernization Act of 2003 (MMA). The MMA extended Medicare to include prescription-drug coverage, known as Medicare Part D. In 2013, Medicare covered the health care expenses for 52.3 million Americans, costing $583 billon. Originally, Medicare had difficulty controlling costs; physicians and hospitals were

Ladies and Gentleman, many of you are concerned of losing your medical entitlement and if something is not done as soon as possible, the Medicare program will be bankrupt by 2021. Medicare has been scrutinized on how the system is funded and in its comparison to the results of health outcomes as more people are enrolling into the system. It is very difficult to address the federal deficit, our national debt, Medicare, and many economic issues that plague our country. There are many opportunities that are in front of us to reach a resolution in an attempt at saving this healthcare entitlement. I am very concerned on the lack of information on this issue and also the amount of misinformation that is being distributed. I appreciate your invitation to speak at this panel and I will address your concerns about the Medicare Funding crisis. (Roy, 2011)

When Medicare first went into effect the monthly premium for Part B, medical insurance, was three dollars. As it stands today in year 2010, Part A, hospital premium, is $254 to $461 per month. Part B, the medical insurance portion, is $96.40 for those individuals whose income does not exceed a certain amount. There are also multiple co-pays and carve-outs, which further increase the cost to the patient. The ceiling restrictions put on various costs, such as the daily allotment for hospital stays and skilled nursing facilities, often do not fully cover the patient’s expenses.

The biggest challenge for the Medicare program is updating the benefit package to reflect what is available for the private sector. Coverage’s that need the most updating are outpatient prescription drugs. Health care providers (doctors, hospitals, etc.) often have a less than perfect grasp of Medicare coverage and beneficiary rights. Medicare usually requires providers to make the first decision as to coverage, but the system includes financial costs and penalties that discourage the award of coverage. Even helpful providers may have incomplete knowledge of the potential scope of coverage (Dale & Feuerman, n.d).

One of the problems of Medicare itself is that it doesn't cover the costs of prescription drugs for its members; this has led to one of the major reasons that the program is in danger. A great deal of personal healthcare relies on the use of drugs, and since the program doesn't cover these costs, the individual must bear them. According to the AARP, in 1999 out-of-pocket costs for prescription drugs were estimated to be $450 per person each year (AARP). Obviously, members have joined the program to defray their medical costs, but these figures indicate that they still have large costs to pay. The other problem faced by the Medicare program is that it is also suffering from a lack of funds. According to Governor George W. Bush, the financial health of Medicare is in serious jeopardy and might face deficit as soon as 2010 (Bush). As a result of these major problems, one might wonder why the plan isn't scrapped for another program; well according to polls done by the Public Agenda, an Internet public policy site, American citizens are strongly in favor of Medicare, and would rather see the problems ironed out (Public Agenda). Therefore it is necessary to come up with a solution, so that the Medicare program remains intact.

The growing concern regarding the financial security of Medicare is one of particular interest to the nearly 72 million baby boomers that become eligible for this government-assisted, and tax-payer bolstered, program over the next two decades. According to the U.S. Census Bureau (2010), there will be a rapid increase in baby-boomers between 2010 and 2030, as the entire baby boomer population move into the 65 years and over category (p.3). Political and financial revisions must be made to ensure the security of Medicare as the numbers of individuals paying into this program are soon to be surpassed by the number of individuals drawing-off this program (U.S. Census Bureau, 2010). The elderly are also at a disadvantage with transportation to health care visits, picking up prescriptions, and rehabilitation services. There needs to be an establishment of access not only to primary care providers, hospitals, and rehabilitation services, but access to other aspects of the health care system for the elderly population.