Medicare Advantages And Disadvantages
The advantages from my idea would be less money that consumer has to pay out of pocket per month in expenses for prescriptions and a decrease of prices in the market. To improve older adults’ access to prescription medications, Congress passed the Medicare Prescription Drug Improvement and Modernization Act.1 The Act established a voluntary prescription drug insurance benefit, known as Medicare Part D (Polinski,Kilabuk, Schneeweiss, Brennan, & Shrank, 2010). Of the approximately 24 million beneficiaries enrolled in Medicare Part D in 2007, 3.4 million reached the ‘‘coverage gap’’: between $2,400 and $5,451 in total drug expenditures, where beneficiaries pay 100% of drug costs out of pocket (Tseng, et al, 2009). Part D implementation was associated
Medicare Part D: Annotated Bibliography
1067 Words | 5 PagesDuring the research, they found the result showing 48% physicians were in favor of Part D while 37% physicians were in oppose of Part D of Medicare. The article also stated that 55% reported that Part D has improved the access to prescription drugs, however 44% has also reported that access of was declined for individual who had prior drug coverage. The article has also stated that there were 49% physicans that reported that dual eligibility access was really bad under Part D of Medicare in 2007 relative to 2006 when it was started. The physicians also reported that in North Carolina, Part D of Medicare has lowered the dual eligibility access compared to Florida, Texas and Massachusetts. Through this research, they found that the
Obamacare: Cost-Benefit Analysis
630 Words | 3 PagesA further problem associated with the costs of Obamacare is the enormous overhead which the production, maintenance, and general administration of the program requires. As Dan Mangan points out, the overhead costs associated with the development and implementation run upwards of $270 billion. In developing this point, Mangan writes, “The overhead cost [of Obamacare] equals a whopping 22.5 percent of the estimated $2.76 trillion in all federal government spending for the Affordable Care Act programs during that time . . . In contrast, the federal government’s traditional Medicare program has an overhead of just 2 percent” (Mangan, 2015). To a considerable extent, the massively large overhead that has historically come to be associated with Obamacare comes from the
Medicare Policy Summary
1033 Words | 5 PagesMedicare is a tightly regulated US health insurance program that provides coverage to those who are 65 years or older, certain younger individuals with disabilities and those with end staged renal disease or amyotrophic lateral sclerosis. Medicare has four parts associated with it, one of which is Part B. Part B is also known as supplementary medical insurance and provides coverage to beneficiaries for outpatient care, preventive services, ambulance services, and durable medical equipment. Outpatient physical therapy services falls into this category of coverage for Medicare Part B (Jannenga, 2014). However, there are several rules and regulations that health care providers, including physical therapists, must follow in order to receive proper
Medicare Pros And Cons
297 Words | 2 PagesJuly 30, 1965 Pres. Lyndon B. Johnson signed a bill into law that led to the establishment of Medicare and Medicaid. Medicare is a program that provides health insurance for Americans that are of the age of 65 and older and people that are even younger that have severe disabilities or other health conditions. When Medicare started it consisted of two parts Medicare part
Managed Health Care: Similarities And Differences
411 Words | 2 PagesDefine, compare and contrast fee-for-service and managed health care plans. What are the similarities and differences? Support your response with one citation and specific examples. Fee for service plans “Fee-for-service plans contain a variety of stipulations designed to control costs and to limit a covered individual’s financial liability” (Martocchio, 2014, p. 147). This agreement is that the consumer pay individually for each aspect of the goods or services receives.
Pros And Cons Of Medicare
75 Words | 1 PagesMedicare is not an example of socialized medicine because socialized medicine is a system in which the government has control over all the systems. The systems requires public funds that the government gains through tax dollars. This systems tend to eliminate insurance companies which causes them to gain profit in the process of providing health care. While Medicare is still publicly financed; it gives those individuals who are insured to receive services without any
Medicare: Benefits Of Supplemental Insurance Coverage
113 Words | 1 PagesMedicare is complex for many people because of the different types of coverage. According to Centers for Medicare and Medicaid Services (n.d), people with medicare have a chance to review their coverage and change their plans each year. I agree, even though supplemental insurance can be quite expensive, it can be helpful and useful in the long run. Supplemental insurance can pay the potentially high deductibles and uncovered medical expenses of medicare.
The Pros And Cons Of Medicaid
391 Words | 2 PagesWhile we have many social welfare programs here in the United States I personal believe Medicaid has been very successful and has benefited many families in America. In 2014 it was recorded that medicaid helped roughly "64.9 million low-income adults" The largest share, around half was reported to cover 29.5 million children. Second was 19.2 million adults. While this is a large amount of citizens, a big part of Medicaid was it would pay for forty percent of all births recorded in the United States.
Medicare: Improving Health Care
395 Words | 2 PagesHealth care has gone through a great evolution through the years. Before 1965, individuals older than 65 years old received inadequate healthcare and more than half of this population did not have coverage (Reinhard, 2012). Due to this predicament, the need to identify issues and implement health policy was imperative to improve health care. Consequently, Medicare was introduced with the goal to mitigate the health issues during the 1960’s and to improve the healthcare availability for individuals 65 years and older. Since then, Medicare has gone through numerous changes in order to incorporate other population needs.
Pros And Cons Of Health Care
741 Words | 3 PagesHealthcare in the United States is in desperate need of reform. There are several rationales to further explain this proposition. As an illustration, the Declaration of Independence states our unalienable rights: life, liberty and the pursuit of happiness. In other words, every individual should be entitled to healthcare as it preserves life and promotes the general welfare. The federal government should, therefore, enact a program of universal health to better protect and serve all of its citizens.
Essay On Medicare
447 Words | 2 PagesMedicare is a federal health insurance program designed to provide coverage for people who are 65 years or older, as well as those with certain disabilities or chronic conditions. Medicare offers several different parts that provide coverage for different types of services. In this post, we will explain the four parts of a Medicare health plan. Part A: Hospital Insurance Part A is the portion of Medicare that covers hospital stays, hospice care, and skilled nursing facility care. Most people who have paid Social Security taxes for at least 10 years are eligible for Part A without having to pay a monthly premium.
Affordable Care Benefits
633 Words | 3 PagesSeniors can also get an annual wellness visit so they can talk to their doctor about any health concerns. Because of the ACA, over 39 million seniors have received at least one of these preventive services with no out-of-pocket costs. (NCPSSM, 2015) Although the Affordable Care Act is set in place to help provide Americans with coverage and to help reduce the cost of prescription drugs for seniors, there is still a concern that there will not be coverage for people. There are still many improvements that need to be made and different ways to help improve things but the ACA is heading in the right
Socialized Medicine Pros And Cons
855 Words | 4 PagesSocialized medicine is a form of medical insurance that is available to all lawful citizens that the government covers. Throughout the United States 21.3% of the population receive benefits from the government due to their financial situation. Consequently, such benefits are not available for all citizens and may be difficult to qualify for. Moreover, Government-run programs are often cheaper, more administratively efficient, and even of superior quality than privately-run programs at the national level. If the United States began offering socialized medicine, there would be a slight rise in taxes in order to cover the 82 million dollars in costs.
Benefits Of Medicaid
294 Words | 2 PagesMedicaid is a health insurance that covers people who are below the poverty line or just have limited incomes. It is funded by both the Federal Government and all fifty states. Medicaid coverage varies for each of the fifty states but there are mandatory benefits that all the states have to offer. Medicaid covers low income families and those below the poverty line. However each of the fifty states varies standards of eligibility.
Obama Care Act Persuasive Speech
749 Words | 3 PagesBased on an individual’s age will the cost differ monthly? I believe that this concept is a great concept, but a lot of issues can surface if not implemented right. I feel as if this is a motive to make everyone in some way pay for themselves to be insured, but not everyone wants to. There are still ways of receiving health care and not being insured. In Reinventing American Health Care, Emanuel wrote, “Uninsured Americans do get sick and need health care; they receive about 65 percent of the care they would receive if they were
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