Medicare Cost Benefit Analysis

Many proposals to reorganize Medicare could increase the financial and health risks faced by the vulnerable elderly. Turning Medicare into a premium-support system a voucher set randomly at the value of the second-least-expensive insurance plan could shift costs to elderly households. Increasing the Medicare eligibility age from 65 to 67 will leave many Americans ages 65 and 66 without insurance. The basic idea of part A Medicare payment is simple. The patient pays a deductible that approximately equal to the cost of the first day in the hospital;

In 1965, President Johnson introduced Medicare and Medicaid to provide health insurance to the elderly and low income children.

With the implementation of the ACA, many states have expanded their Medicaid programs to include a larger population of low income individuals and families that were not able to obtain health insurance prior to the law. Some of the issues that state legislators struggle with are the overall cost of providing services for the additional recipients, staying within budget, determining an adequate approach of offering quality care, and providing adequate coverage for each recipient. Even though the cost of Medicaid expansion within each state has increased the budget for the program, new appraisals has shown that Medicaid programs spend less per enrollee than commercial health insurance and much of the increase in Medicaid expenses originate from the increase in enrollment in the programs (Coughlin, Long, Clemens-Cope, & Resnick, 2013).

It has been recognized that ever since its passage into law the Affordable Care Act frequently known as Obamacare has and will continue to attract criticism and scrutiny. This is the America`s major and mainly well-liked social indemnity programs. Despite the fact the Affordable Care Act is a highly multifaceted piece of legislation featuring many regulatory and intergovernmental provisions meant to deal with lack of health insurance coverage affecting a variety of diverse groups, Medicare and social security are much more focused programs providing benefits primarily to the aged. Social security and Medicare were in the beginning implemented more without difficulty and with a little of bipartisan support, because in 1935 and 1965 democrats

Medicare, which was first enacted by Congress in 1965, is a popular, yet failing, program because of a rapidly increasing population of retirees and their increasing costs; despite program’s flaws, Medicare is difficult to change because of the political influence of the elderly, who approve of the benefits they receive from the program. Medicare provides health benefits to citizens who are eligible for social security benefits(Fiorina, Peterson, Johnson & Mayer 2009). The program is embraced by the public, but Medicare’s increasing cost makes it difficult to sustain. Due to its popularity, the program is also very difficult to change, but without limitations the program will continue to decline in the future.

1960- President Lyndon Johnson cryptograms Medicare into law providing complete health coverage for individuals age 65 and over. By the end of the 1960, 69% of clinicians are

Medicare is a federally administered health insurance program that was started in 1965 by President Lyndon B. Johnson, taking effect in 1966. The Medicare program was aimed at aiding the high percentage of elderly individuals who were without health insurance coverage and thus improve their health. Originally, Medicare provided health insurance coverage for retirees and their spouses 65 years and older. However, in 1972 Richard Nixon signed the first change to Medicare, allowing for certain disabled persons under the age of 65 to participate in the program. Additionally, Nixon’s changes allowed anybody diagnosed with kidney failure who required dialysis or an organ transplant to receive coverage under the program.

Medicare, enacted on 1965 is a government funded health insurance program which covers the elderly, the disabled and people with end stage renal diseases. With Medicare covering specifically the elderly and the disabled, the cost is usually on the higher side. Medicare has been in action since the last 50 years. Many even approve of expanding Medicare instead of ACA, as Medicare is government funded while ACA has much commercial involvement. Medicare is heavily subsidized and is universally

On viewing this video “The Story of Medicare” I was able to understand that the role of Medicare(MR) and Medicaid (MD) centers is to cover all people over the age of 65 or older regardless of their income, health status or residence. Medicare also provides benefits for people of any age that have certain disabilities. MR & MD services is a program that allows low-income families whether healthy or sick to receive health care coverage. Medicare has successfully increased the life expectancy of Americans over decades as before Medicare coverage, the life expectancy of white Americans was 61 years and black Americans 48. This number has increased for both white and black Americans adding 15+ years of life expectancy. I believe that Lindon B. Johnson

Having been instituted on July of 1965 by President Lyndon, Johnson, for 50 years now, Medicare has served as a means of of health insurance for individuals 65 and above. This program has served as a means of getting healthcare to the elderly despite their financial situation. Going back as far as 1912, America had long been aspiring to establish a health insurance policy for Americans, but alas, none of these projects ever got real momentum. That was until 1945 when Harry Truman was elected into office. Truman believed health care for every American was an urgent matter so he requested that congress create a National Health Insurance Policy, which would help every American pay for meticulous things such as routine doctor visits, dental care, and other necessities. Despite his dedication, Truman’s plan deteriorated and nothing was accomplished. Finally, in 1965, Lyndon B. Johnson signed for legislation to establish what we all know today as Medicare.Since then, the program has experienced countless changes coming to cover far more Americans. At the time, it only consisted of Part A and B, but over the years, but has come to include C and D as well. Despite having been created in order to help a wider population, the program has been proven to have aspects of it that ultimately harm consumers.

In 1965, President Lyndon Johnson created Medicare under Title XVIII of the Social Security Act in order to provide health insurance to people aged 65 and older, without regard to income or medical history. It also includes people under 65 with permanent disabilities, end-stage renal disease (permanent kidney failure) and amyotrophic lateral sclerosis (Lou Gehrig’s disease). Roughly half of all seniors lacked medical insurance prior to 1965. As of 2015, Medicare provides health insurance to 55 million

By the 1960’s, the system of private health insurance in the United States was well established. Public programs provided the primary source of coverage for most senior citizens and for low-income children and families who met certain eligibility requirements. One of the primary public programs is Medicare, a federal program approved by Congress in 1965 for seniors and certain disabled individuals that consisted of two separate parts. Part A represented the hospital insurance program that people were automatically enrolled in at age 65 and Part B provided supplemental medical insurance for physician services. In contrast to Medicare, Medicaid was developed and funded jointly by the federal government and states, to cover expenses for certain very low income children and their families who could not afford private coverage. “In 1966, Medicaid provided benefits for 10 million recipients. By 1999, 37.5 million people receive care under Medicaid” (Henderson, 2002, pg. 433).

Medicare was started in the year of 1965 that provided the medical insurance for the elderly whom needed the assistance for the medical expenses. Medicare is divided into two programs called the Medicare part A (hospital insurance) and Medicare part B (medical insurance). In the year of 1997, the Medicare+Choice was added to Medicare and it is now called the Medicare Advantage (MA). Part C, offers the benefits for a fee through it's private health insurance programs that has a health maintenance organizations with the preferred organizations that contracts with Medicare. Medicare Part D, became available in 2006, to help with prescription drug coverage (Comprehensive Health Insurance, Page 359).

In 1965, Congress created Medicare. Seniors were forced into the free-for-all of Medicare, personal responsibility was replaced by paternalism, and, predictably, unrestricted health care for older Americans lead to frenzy of spending by patients and doctors. Those who had clamored for Medicare argued that, since the state subsidizes seniors' medical care, the state ought to pay for everyone's health care. In an act of pragmatism, President Nixon proposed the HMO Act, which Congress passed in 1973. The law gave millions of dollars to HMOs, which, until then, had constituted a small portion of the market.

Medicare was originally created for people over the age 65 who found getting health insurance coverage difficult during a time when illness would generate expensive bills for someone in the hospital(“What is the History of Medicare?”). In the Medicare system reimbursement is a major flaw because the United States government cannot pay off all physician fees, leading to an accumulation of debt(Ranawat and Nunley 1). This accumulating debt will cause the Medicare system to run out of funds by the year 2019(Ranawat and Nunley 1). Medicaid was initially created “to provide healthcare to people who have low incomes and cannot afford health services or health insurance on their own”( “What Is The History of Medicaid”). The biggest issue facing Medicaid is World War II baby boomers are beginning to retire, meaning that less money is being paid into the program than money being paid out. Because the United States government has to pay proportionally higher healthcare costs due to inflation for the surplus of retiring World War II baby boomers, the Medicaid system does not have enough funding(Smith 1). Another form of healthcare that is struggling due to lack of funds is Social