Medicare In 2030

The baby-boomer generation is aging and adding more beneficiaries’ at an increasing rate than ever before and is estimated to impact the federal deficit by over 17% by 2020. Many other countries have National Healthcare that provides better care at a much lower cost. Medicare was the motivation for a universal healthcare plan and a program for the U.S. could have a positive impact. (Starr, 2011).

Life expectancy has increased over the last century. With this greater survival rate, there needs to be an increase in the rate of spending for Medicare. Despite what one does to improve their health behavior, the need for medical care cultivates as one ages. This need will continue to increase significantly as medicine continues to modernize.

As this baby-boomer generation continues to age there will be profound effects on the way that money is spent on health care and insurance. With approximately 77 million people turning 65 over the next several years, the amount of government spending on Medicare will greatly increase (Gigante, 2012). Thus, the demand for medical care associated with the aging population will so

The Medicare and Medicaid programs were signed into law on July 30, 1965 by President Lyndon Johnson ("Centers for Medicare," 2012). Before this decision was even taken into consideration, many other healthcare reforms had previously been introduced by earlier presidents, but failed to pass the Senate. Healthcare issues have always been on board for the United States, but during this time the elderly and the poor were desperately screaming for help. The government had no choice but to come up with a solution to their healthcare needs; these two

The Medicare bill was signed into law on July 30, 1965 by President Johnson. The signage came long after an attempt by President Truman to develop a national insurance fund that could be utilized by all Americans. During the signing of the bill, President Johnson explained that with the Medicare program an individual can insure themselves against illness that may present during their senior years. Additionally, he commented that there were more than 18 million low income Americans who are greater than 65 years of age and cannot afford to treat their illnesses. The Medicare program is overseen by The Centers for Medicare and Medicaid Services (CMS), and has evolved over time. Medicare now covers individuals under the age of 65 who

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.

What is Medicare? President Lyndon Johnson signed Medicare into law on July 30, 1965. When Medicare first began, it had two parts, Part A and Part B. Medicare Part A provides hospitalization coverage to all citizens age 65 and older. It helps cover inpatient care in hospitals, including critical access hospitals, and skilled nursing facilities. It also helps cover hospice care and some home health care. Beneficiaries must meet certain conditions to get these benefits. Most people do not have to pay a premium for this service because they or their spouse has already paid for coverage through payroll taxes. Most beneficiaries over age 65 don’t pay a monthly premium for Medicare Part A coverage if they or their spouse paid Medicare taxes for at least 10 years while working (Mack, 2016). Most Medicare beneficiaries do not have to pay Medicare premiums on Part A because of their employment Medicare tax history (Mack,

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.

Medicare is a federal health insurance program. This program pays for a variety of health care expenses for people who are 65 and older, adults with approved medical conditions such as Lou Gehrig’s disease, qualifying permanent disabilities may be eligible. It is financed by payroll taxes, premiums paid by voluntarily beneficiaries, income taxes paid on Social Security benefits and interest earned on the trust fund investments.

Medicare currently pays for many preventive services that can detect health problems early when they’re easier to treat, give better access to claims and personal health information, and allow for savings on brand-name and generic when coverage gaps are met. The actual benefits of Medicare will not be changing. There will however be a new plan that is key to the Affordable Care Act that will take place in 2014. This plan is the Health Insurance Marketplace that allows individuals, families, and employees of small businesses to get health insurance. (Services, 2013 ) The Marketplace offers insurance plans through private companies that will provide essential health benefits regardless of gender, preexisting conditions, or preventative

In 1965, President Johnson signed Title XIX of the Social Security Amendments, which enacted Medicare and Medicaid (CMS, n.d.). Originally, Medicare was composed of Part A and Part B. Part A is covers more medical costs associated with hospital stays, while Part B cover medical costs such as durable medical equipment, nebulizers, some vaccinations (Pneumovax ®, Zostavax ®, and Flu), and some nebulized breathing treatments. The original program was designed to cover disabled individuals and every over the age of 65.

When Medicare was established over Fifty years ago. It took several years for it to become what it is today. Back in 1965 millions of individuals signed up for Medicare in the first year. When it was only covering hospital visits and insurance benefits. Health care for individuals with disabilities under the age of 65 or anyone with end-stage renal disease did not come until several years later. Medicaid was established around the same time as Medicare to provide healthcare to individuals with limited resources. Medicaid is a program that is funded by the government, for each state to run.

Medicare is one of the largest health insurance programs in the world with an annual cost of $260 billion (Nesvisky, 2015). Nesvisky stated that providing universal health insurance to the aging and the disabled, Medicare accounts for approximately 17 percent of U.S. health costs, one-eighth of the federal budget, and 2 percent of gross domestic production (2015). Medicare was introduced in 1965 and remains to this date as the single largest change in health insurance coverage throughout U.S. history (Nesvisky, 2015).

The federal government provides health care insurance called Medicare. The program stared out strictly for those United States citizens who are 65 years of age and older. The plan has changed over the years to covering younger individuals with disabilities and diseases that are accepted by the program, like end-stage renal disease and young people with amyotrophic lateral sclerosis. Medicare covers over 49 million people as of the end of 2015 (Anderson, 2015).

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.