Medicaid Vs Healthcare

Medicaid and Medicare are two different government programs. Both programs were created in 1965 to help older and low-income families be able to have their own health insurance. These programs were part of President Lyndon Johnson’s plan, a commitment to helping meet the needs of individual health care. Medicaid is largest single private health insurance program. Medicare and Medicaid are helpful to those individuals who qualify; they are not available to everyone. I will discuss in this paper the definitions, similarities and differences of Medicare and Medicaid.

Medicaid and Medicare are two programs that are very different but share the same instance of being federally run programs. Both Medicaid and Medicare were created in 1965 in response to the fact that older and lower income people could not buy private insurance. Medicaid is dispersed individually by each state in which is primary role is to cover low income people who do not have the financial means to purchase healthcare on their own. On the other hand Medicare is paid into by everyone that works a legal job where taxes are deducted. Medicare was created to address the issues of elderly; typically people 65 years or older; having extremely high healthcare bills but limited personal funding. These people will typically pay part of the cost

“Medicaid covers basic health care costs such as visits to the doctor and hospital stays, but can also cover things like the costs of eyeglasses… Medicare covers hospital and post-hospital facility charges, as well as home health care, doctor fees and lab costs, outpatient care, and prescription drugs” (Reuters). Medicaid covers simple costs, meanwhile Medicare pays for more expensive cost such as doctor bills. With Medicare there are four different parts: Part A, B, C, and D; however, each part has different coverages. Medicaid may charge patients small service fees and with Medicare there is a yearly deductible for all plans; with these different plans they copay lengthy time in the hospital which would be Part A, Part B covers 20 to 35% of medical bills, plus monthly premiums, and Part D has coverage gaps that will not cover total drug costs over $2,840, but will once total drug costs reach $4,550 (Reuters). Medicaid patients usually pay nothing, but a small co-payment is sometimes required. With Medicare, Medicaid will often pay for what Medicare will not pay for. For example, deductibles, premiums, and sometimes up to 20% off medical costs. For Medicare, payment charges may vary depending on what plan the patient has. With saying this, what services they cover and the cost are a big impact on which insurance the user would most

Medicaid, Medicare, and CHIP’s healthcare coverage is usually used in the typical American household. Though they serve different people they all have the same goal: To provide health coverage for lower costs and better care. They all have many ways they are funded. Medicare is funded through taxes, trust funds, premiums from members of Part A,B, and D, and funds from Congress. Medicaid and CHIP is funded by the government. The federal government pays states for a specific percentage of program expenditures or costs for a specific group. The percentage for Medicaid is 15% higher than CHIP’s. If you want to be a member of medicaid, you have to have a limited income, be 65 or older, a child under 19, be pregnant, be living with a disability,

On July 30, 1965, President Lyndon B. Johnson signed into law the bill that led to the establishment of Medicare and Medicaid. Medicaid is a social protection program that was enacted to provide medical assistance to United States citizens who meet certain eligibility requirements and is jointly operated by the Federal and State government. Although each state is responsible for operating its own Medicaid system, it must comply with established Federal guidelines in order to receive matching funds.

Medicare and Medicaid are two of the United States largest broken systems, which must sustain themselves in order to provide care to their beneficiaries. Both Medicare and Medicaid are funding by a joint effort between the federal government and the local state government. If and when these governments choose to cut funding or reduce spending, Medicare and Medicaid take the biggest hit. Most people see these two benefits as one in the same, two benefits the government takes out of their pay check to help fund health care. While the government does deduct a sum from paychecks everywhere, Medicare and Medicaid are very two very different programs.

Medicaid and Medicare are two different government programs. Both programs were created in 1965 to help older and low-income families be able to buy their own private health insurance. These programs were part of President Lyndon Johnson’s “Great Society” plan, a commitment to helping meet the needs of individual health care. They are social insurance programs, which allow the financial load of patient’s illnesses to be shared by other healthy, sick, wealthy, and lower income individuals and families.

Over the last several years, beginning approximately around 2002 and reaching an all-time impossible high in 2016, prescribed drugs such as EpiPen, a life-saving allergy medication, or Bavencio, a cancer drug approved in March, or even older drugs such as insulin that has been around since 2002, have tripled in prices. Many drugs used for cancer, muscle dystrophy, bladder treatment, and more have prices ranging from $150,000 - $300,000 - a year. The director of health services research for the AARP Public Policy Institute, Leigh Purvis, says: “the simple answer is because there’s nothing stopping them”, referring to these pharmaceutical companies. Unlike many countries, The United States does not regulate drug prices, resulting in drug companies being able to charge whatever price they please. AARP Bulletin stated: “The supply of a newer medicine, however, is controlled entirely by the drug manufacturer that holds the patent rights. That gives the manufacturer a monopoly on the drug for the 20-year life of the patent. During that time, it is free to raise the price as frequently and as much as the market will bear.” AARP - The Ways of Drug Pricing.

Medicare and Medicaid are both governmental programs that provide health care services to specific groups of Americans. Although these programs are different, they both are managed by CMS. Medicaid provide health care to individuals with low income and few resources. While, Medicare provide health care to the elderly and certain disabled Americans (MediLexicon International Ltd, 2015).

Since its passage in 1965, Medicaid has become the nation’s main public health insurance program for the low-income population. It is also the major source of handling and funding of long-term care services for the elderly and individuals with disabilities. (Olson, 2010) Medicaid plays many roles in our healthcare system and was increased significantly as a center of coverage for the low-income population under the Affordable Care Act. (Foundation, Medicaid Timeline, 2015)

I have learned that health care insurance coverage is an important issue for all the people living in the United States. In 1915 and 1920 the State tried to coordinated government health insurance, however it never took place. In the 1930s the federal level tried to coordinated government health insurance and the same thing happen, it never took place as well. Later on in the late 1930s people who were able form a health insurance coverage so they are able to protect themselves and their family due to high cost out-of-pocket co-payment. In 1965 Social Security Act adopted Medicare and Medicaid to provide health coverage services for children and mother thought-out the United States. I realize that Medicaid is mainly for needy people to help them get the best health care and to educate them to live a long and healthy life.

Medicare and Medicaid were starkly different programs. For example, Medicare is a federally run program while Medicaid is a state governed program. However, one of the biggest difference between these two programs is that Medicare is a universalistic program, while Medicaid is an eligibility based program (Brown and Sparer 32). Medicare covers almost all the elderly over the age of 65 while Medicaid only covers a “subset of poor (roughly two-thirds in 2002), namely, those who meet state-set eligibility rules” (Brown and Sparer 32). This difference in these two policies exists because of the partisan nature of healthcare policymaking. Medicaid was diametrically different than Medicare because it serves the poor. Medicaid was seen by the conservatives as government providing handouts and thus they felt that this would make America a welfare state. Conversely, Medicare was not seen as the government providing handouts to the elderly because the elderly would be contributing towards Medicare before they turn 65. This partisan perspective by the conservatives led to many changes

NURSE: Oh that’s good to hear. Okay, I will start by defining what they are. Medicare and Medicaid are both government sponsored programs that are designed to help in covering health care cost. Medicare is an insurance program that offers medical care to those people who are 65 years and above. On the other hand Medicaid is a financial assisting program that helps low- income individuals and families to pay the cost associated with medical and custodial long-term care, and the eligibility is determined by an individual’s income and social welfare.

One group that believes it has the answer is conservatives. People subscribing to this ideology believe in the ability of the free market to balance out costs of prescription medication such as Sovaldi’s $1,000 per pill price tag (Pharmacy Times) and self-correct to eventually provide the best product so long as government does not prevent the market from naturally progressing. The first feature of their solution requires the trimming of government agencies’ budgets and scope such as the funds appropriated to and power vested in the United States Food and Drug Administration. A 2014 study reviews the FDA’s effectiveness in its job by comparing different divisions within the agency against each other. The study concludes that, even after adjusting for varying levels of investigation required for the safety and usefulness of different categories of drugs, there are significant differences in how quickly drugs reach the market. Some divisions are much more efficient than others.

OF ALL the goods and services traded in the market economy, pharmaceuticals are perhaps the most contentious. Though produced by private companies, they constitute a public good, both because they can prevent epidemics and because healthy people function better as members of society than sick ones do. They carry a moral weight that most privately traded goods do not, for there is a widespread belief that people have a right to health care that they do not have to smartphones or trainers. Innovation accounts for most of the cost of production, so the price of drugs is