Medicare And Compare Contrast Essay

Medicare and Medicaid are programs that have been developed to assist Americans in attainment of quality health care. Both programs were established in 1965 and are federally supported to provide health care coverage to vulnerable populations such as the elderly, the disabled, and people with low incomes. Both Medicare and Medicaid are federally mandated and determine coverage under each program; both are run by the Centers for Medicare & Medicaid Services, a federal agency ("What is Medicare? What is Medicaid?” 2008).

Changes to the health care system throughout the United States will greatly influence health care utilization. Trends in health care utilization can be used to project future health care needs, predict expenditures, or for training personnel in new medical procedures and policies (Berstein, Hing, Moss, Allen, Siller & Tiggle, 2003). For example, the increase in ambulatory surgery was changed by improvements in anesthesia and improved techniques in Cardiopulmonary Resuscitation (Berstein, Hing, Moss, Allen, Siller & Tiggle, 2003). Advanced medical procedures that used to require a few weeks of bed rest now only need a few days in the hospital. Shorter hospital stay makes the patient happier and it

There are three sources of health insurance coverage, private insurance, Medicare and Medicaid. Medicare is the federal government primary health coverage for those over the age of 65; all persons in this age group are eligible for some basic coverage by Medicare. Although some may only be covered for Medicare part A (hospital coverage only) or part B (physician coverage), but most are covered for both. But for those who are not covered by both, again, presents the problem of being underinsured, which causes the problem of not seeking the medical attention when it is needed. Medicaid is the government?s program for those who are poor and those with disabilities. Private insurance is simply for those who could afford it when it is not offered by the

Medicare and Medicaid assist 111 million individuals of which 10 million individuals are qualified for both programs. By 2025, that number will increase to 139 million individuals. Medicare beneficiaries receive $23,500 for a medium income and Medicaid beneficiaries receive $15,000 (Altman & Frist, 2015). Both programs combined comprise of “39% of national health spending, account for 23% of the federal budget, and generate 43% of hospital revenues” (Altman & Frist, 2015). These programs are predicted to increase by 3.7% each year. Since the two programs affect many individuals, any changes to the programs can shake election turn-out votes. The toughest health policy surrounding Medicare and Medicaid today is whether the programs should remain entitlements.

Medicare and Medicaid together "are the single biggest contributor to [the United States] long term [budget] deficit." This idea was expressed by President Obama during his 2011 state of the Union Speech. After saying this, the president said that health care costs need to be reduced, including these two services. Medicare and Medicaid are beneficial to those who receive their services, and the criteria for eligibility currently allow many to qualify for either program. This is most likely the cause of the major deficit that the president spoke of. However, downsizing or eliminating these programs to lessen the deficit will affect many people and their ability to receive healthcare.

Medicare is a social insurance program that is sponsored by the government (1). This was originally made for the long term care for the elderly people that needed health insurance (2). There are four different parts that are provided to the people that are eligible for Medicare. Part A helps pay for the hospitals. As Part B pays for all medical reasons; such as, physician visits, outpatient services, and the need for medical equipment. Part C, for example, deals with the care of people with diabetes, and Part D is to provide people with prescription drugs (1).

The Medicaid program is a federal health insurance program for the under-privileged and incapacitated. The plan is managed by states within comprehensive limits instituted by the federal government. Together the federal and state governments finance the program, with the federal share ranging from 50 percent to 74 percent. Now Medicaid currently makes up 7 percent of the federal budget and 23.7 percent of all state expenses. Approximately sixty million people are enrolled in the Medicaid program and 400 million is spent annually.

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.

Medicare is funded by the Social Security Administration, which means it’s generally financed by taxpayers. Payroll taxes paid by most employers, employees, and people who are self-employed help finance Medicare. There are 4 parts of Medicare, each part is funded differently. Part A, the Hospital Insurance (HI) Trust fund is paid by taxpayers. Employees pay 1.45% of their earning into the Federal Insurance Contributions Act (FICA), which goes into the trust fund. Employers pay an additional 1.45% into FICA. Those who are self-employed pay 2.9% towards FICA. Individuals making $200,000 or more and couples making 250,000 or more pay a higher percentage of 2.35% into the Health Insurance Trust Fund. The

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.

The United States currently employs a multipayer system. The payers in this system include the government and private insurance companies., thus the collection of money for health care is a joint responsibility of both parties. Private insurance companies collect premiums and other payments from enrolled individuals and businesses. The government collects taxes from individuals and businesses. Regarding reimbursement, the private insurance industry reimburses providers for health care services delivered to privately insured individuals, while the government reimburses providers for health care services delivered to publicly insured individuals (e.g. people enrolled in Medicare, Medicaid, S-CHIP, or the VA).

Health care costs have been a contributor of America’s long-term fiscal imbalance. In 2015, total health care expenditures accounted for 17.8% of the U.S. economy (Center for Medicare & Medicaid Services, [CMS], n.d.). And of that 17.8%, 50% accounted for government spending. This conflicts with our notion of a predominantly private financing system of health care in the United States (Himmelstein & Woolhandler, 2016; Kolata, 2012). Moreover, two often overlooked tax-funded health expenditures—tax subsidies to health care (10.1% of total spending) and government payments for public employee’s private health insurance coverage (6.4% of total spending)—together, put the U.S. in first place for health care taxes. Yet, many patients are

In Canada or Great Britain, the government funds healthcare providers through taxes, and such a system is called social. The United States, on the other hand, being a profoundly capitalistic country, opted for another route and passed the burden of healthcare spending on private consumers as well as other

The three major government health insurances--- Medicare, Medicaid, and the Veteran Administration provide health care services to nearly one out of three Americans (Center Forward Health Basics, 2012).

One of the biggest differences is Medicaid is a state governed program and Medicare is a federal governed program. Here are some other differences: