Social Security and Medicare Will Hang by a Thread

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.

When Lyndon Johnson went into office more than 60% of the voters supported Medicare (HNN). With large gains in both houses Johnson was swayed to push forward with the Medicare act in 1965 Congress passed Medicare and the Social Security act that included the health benefits and Medicaid which was provided to lower income Americans (HNN).

One of the major problems nagging America is the need for a new health care system. The number of uninsured Americans needing medical treatment is rising. Medicare, a major part of the American health care system, is projected to go broke in 2019 according to USA Today 's article, "Congress refuses to swallow cures for ailing Medicare." I have seen this ruin people 's pursuit of happiness. I worked in a nursing home for the past five years. Many elderly patients run out of money to support themselves for their long term care. When they go on Medicare, only certain treatments and prescription drugs are available. This causes them to worsen in condition physically and mentally. I believe that with a

Medicare has changed the healthcare industry considerably and is one of the largest health programs in the world. With its spending of $260 billion a year, it only accounts for 17% of health expenditures. Even though Medicare has led to better care there is also the need for continuous re-evaluation. Since its introduction in July 1965, and with a ten-year study, the impact on elderly mortality was tremendous. When first signed into law, it only included hospital care and doctor services. Even though our elderly were finally getting the insurance they needed, they still had to pay for their medications in full which contradicted with the care they required.

In 1935, President Franklin D. Roosevelt, signed a document that created a new phenomenon called Social Security. Social Security is a government program where people pay 7% of their wages into it and those who are retired, unemployed, or unable to work can receive Social Security. Social Security recently has become a little more concerning for people in the future because of the Baby Boomers are getting closer to that age where they can receive Social Security. However, the people of the United States are still to this day for the government program. During George W. Bush’s time as President, he wanted to privatize Social Security. He quickly was despised by the public and Democrats for trying to restructure Social Security; therefore, the

The original intention for creating social security was to act as a safety net for retirees, but as time past, there seems to be a great deal of economic issues relating to the program. Social Security was created to help benefit retired workers, spouse and children of deceased workers, as well as workers who have become disabled before retirement. This insurance program provides retirees with a steady income once they retire. President Roosevelt signed the program into law on August 14,1935 (“FDR signs”, 2009). Since then, Social Security has been beneficial for many workers and retirees. In fact, social security has become the main source of income for many retirees.

Eventually everyone wants to retire. In order to do that we need to make and save enough money to live on, but not everyone has the luxury of having financial stability. Since the mid-1930s, the government has tried to ensure that everyone should at least have some income after leaving the workforce. This plan is known as Social Security. Initially created during the New Deal, it was a compassionate program to help prevent elderly people from being destitute and was founded on a sound economic model. However, the government’s failure to predict life expectancy and demographic changes, program expansions to include people with disabilities, and other added benefits have made the program much more expensive and will eventually put Social Security

Derived from Chancellor Otto Von Bismarck's Prussian Plan for German workers, President Franklin D. Roosevelt developed a plan to provide pensions for elderly Americans in 1935. After nearly six years of depression, the United States was ravaged with an unemployment rate of 25% and many others had lost everything they owned due to the collapse of the internal banking market. The future looked grim for most Americans because even those with jobs had barely any purchasing power due to enormous interest rates and high inflation. Riding high on his New Deal, President Roosevelt studied how Bismarck's plan had worked so well in Germany and sought to develop a similar plan for America citizens. On August 14, 1935, President Roosevelt succeeded in developing a national insurance plan and signed the Social Security Act into law (Sharp: 389).

Social and health issues can have a substantial influence on life. Previous to Medicare, some programs attempted to assist the aging population, but they unsuccessful met the demands of their medical needs. The state's resources were limited making those funds accessible to assists those in need. Congress begins to perceive a significant increase in healthcare cost among the old, making it impossible for them to afford health insurance as their incomes gradually declined (Social Security Administration, n.d.). During Johnson presidency, he made it a precedence to ensure that older Americans would have necessary protection against healthcare and its rising cost.

A failing Social Security Retirement program glimmers like broken glass on the horizon. Unfortunately, many people are relying on this program for their approaching retirement needs and by doing so add uncertainty within their future. Misconceptions pertaining to the program are widespread, and require further examination. Two questions may single out whether one has a false impression of the role of Social Security and retirement. First, was Social Security meant to be the only source of an individual’s income, and second, are the taxes paid today saved exclusively for an individual’s future retirement? According to a brochure from Social Security Online, (Understanding The Benefits, 2010) the answer to both questions is no, therefore

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.

Medicare was established in 1965 to guarantee elderly Americans access to quality health care regardless of their financial circumstances. Medicare spends more than $200 billion a year and it will increase, partly because greater numbers of Americans will become eligible for coverage when the baby boomers begin to turn sixty-five after 2010. According to the article The Political Economy of Medicare by Bruce C. Vladeck, to understand the political economy of Medicare it is necessary to view it from three perspectives. The first one is Medicare as redistributive politics, second is Medicare as special-interest politics, and third is Medicare as distributive politics. In the next few paragraphs I will focus on economic analysis

According to Cothran (2015), “Over the past five decades, there have been major shifts in how we pay for hospital care, physician services, long term care, prescription drugs, and other services and products”. Before Medicare and Medicaid, about half of hospital care was not covered by insurance. About 100 % of the spending on prescription medications came from the customers in the 1960s (Cothran, 2015). But, in 2014, customers spent 15% less. Team B will explain our position on national health care spending in the United States. We will also include: current national health care costs, if we are spending too much or not, should we add or cut spending and why, how health care needs are paid for, and future economic needs of the health

The words "Social Security" have been heard by many whether it be from the news, grandparents, school, or personal experience. Social Security is a United States program that aims to help older or disabled persons and the families of older, disabled, and deceased persons (SSA, 2005). Franklin D. Roosevelt was the president who enacted the Social Security Act in 1935, however taxes were not collected until two years afterwards and periodic monthly benefits did not start up until 1940. Social Security was intended to be a retirement program when it was first passed into law in the year 1935. The reason that the program was first aimed to help older Americans is because of the worry that the post Great Depression era had for them. The program

As an adult we wake up everyday, and go to work for sixty plus years. Most days of those 60 years we wish for the period in life where we can retire and never have to worry about working again. When we actually get to the point of retirement we all hope we’ve saved enough in our 401K and saving account to allow us to live out our years happily. Along with our 401K we hope we finally get back all the money we paid into Social Security. The program started when America was at its worse, to help the people that were at an age where they couldn’t help themselves. Since then things have changed dramatically now a days we are skeptical if we will ever receive it at all. In this essay I will talk about the past, present, and future of Social Security.