Medicare part D is a subsidized health insurance program to cover for prescription drugs The program was introduced when there was the need to improve drug coverage. The former president George Bush, On December 8, 2003. Signed Medicare Prescription, Drug Improvement and Modernization Act, which created Medicare part D. these program was intended to offer voluntary drug benefits. Medicare part D, since its introduction, has contributed a lot in health insurance, some of its benefits are; 1.
A key part of Oregon's complex system of Medicaid reimbursement is a "provider tax" big hospitals pay the state. Davidson's group currently gets paid both by the state and by the large hospitals to help administer that tax. Here's how it works: The state's 28 largest hospitals levy a 5.3 percent tax on net patient revenues. That tax generates about $550 million a year. The hospitals pay that tax to the Oregon Health Authority, which oversees the state's Medicaid programs.
Although this is under Obamacare exchanges, it shows that state-run exchanges can effectively control the cost of premiums. A state that has efficiently and effectively controlled the health insurance markets is California. Through their state-run exchanges, California has managed to control the type and price of care provided by setting up a system that required all health insurers to provide the same deductibles and benefits within each of their coverage levels (Scheffler, Para. 7). Their plan is set up so that “insurers in all marketplaces must offer a defined set of “essential health benefits” in all plans and may offer plans at four coverage levels: platinum…followed in descending order of cost and coverage benefits by gold, silver, and bronze. ”(Scheffler, Para. 7)
First, state taxpayers may experience rising healthcare costs disproportionate to other states (Mahan, 2). Without tailored federal assistance, health care costs may contribute to an unbalanced state budget that burdens the taxpayer. In order to account for this, states may be forced to eliminate certain programs, therefore, leaving some without coverage. Medicaid currently covers almost 70 million Americans, including one in three children, four in 10 births and 70 percent of nursing home residents (Kodjak, 2). With the implementation of block grants, especially without clear guidance and infrastructure, those currently covered by the Affordable Care Act could very well experience reduction or loss of their health coverage.
The government of some opt out states are looking at alternative options to provide care for their large uninsured populations but this only leads to disparities in the health care options available to their denizens versus the other states (Omolola et.al). One proposal repeatedly made by the current administration is to limit the federal contribution by switching from the current percentage model to a model of block grants or per-capita caps. Under the block grants model, states would be given a fixed amount of Medicaid funding which they would need to manage. Under the per-capita model, Medicaid recipients will be subject to a reimbursement cap.
There is an increase in healthcare spending in the United States. In 2014, about one of every five dollars or nearly $3 trillion dollars was spent on health. At the current rate, it is estimated that in 2020, the US will spend $13,710 per person and 20% of GDP on healthcare. In efforts to provide greater health care coverage, recent healthcare legislation (Affordable Care Act) guidelines changes insurance reimbursement for providers.
You mentioned one of the flaws of Medicare was the prescription drug coverage. This is an extremely important part of the Medicare program. Unfortunately, you are correct about the donut hole associated with Part D coverage. For the most part, the costs of medications are rapidly exceeding the end user’s ability to pay for the drugs. There is a rising demand on the health care system as people are living longer due to better drugs and treatments.
This will help the part of the community who are unable to afford the pricey health care costs. The federal government provides tax credits based on one’s income in relation to the poverty line by 4 times. While many state’s government expanded Medicaid coverage to people earning up to 133% of the poverty threshold. A new insurance market reform discusses the “medical cost ratio” requiring the insurance agencies to spend a minimum of 80% of premiums collected on patient care. However, if insurance payments result in less than 80%, a rebate must be provided.
Research on this information has proved that plans through the Affordable Care Act greatly differ from plans that individuals can buy from their employers. For example, in a recent article it states “as of late last year none of the plans available in New York had Memorial Sloan Kettering Cancer Center in their network -- an absence that would be unacceptable to many New York-based employers buying policies for their employees” (Rosenthal). This leads to another issue for out of state individuals because these plans are not offered by the Affordable Care Act, which is a problem for these individuals, while taking into consideration that policies from companies may have employees working in more than one state, therefore
In 2014, there were 9.9 million people who are dual eligible (Medpac, 2016). Out of them, 7.1 million were eligible for full benefit and 2.8 million were for partial benefit. Dual eligible beneficiaries include seniors and non-elderly people with significant disabilities, accounting for disproportionate share of spending in both programs. Medicare patients require higher use of medical services such as hospital care, home health care, physician services, durable medical equipment, and prescription drugs. While Medicaid patients have relatively high spending attributed to their need for long term support services (LTSS), such as nursing home care or community based care.
Nowadays, more people than ever are living longer and healthier thanks to our advancements in medicine, but it’s quickly becoming a problem for our Medicare budget. As more people become eligible for Medicare, more money will be paid to the beneficiaries. If this trend continues, our budget will be diminished in 2034. In addition to the increasing age, fraud and abuse in the disability program also put burdens on Medicare. In order to combat these problems, my proposals are to increase the retirement age and to reduce falsely charged billings.
Free Medicare Services Introduction Good health cutting across all age groups ensures that all individuals become productive for the nation, and thus the nation’s economy prospers. However, unaffordable healthcare has made this fate unachievable. A majority of the aged people struggle to afford basic resources that are required to afford healthcare. Despite reforms such as the Affordable Care Act being introduced in the healthcare sector to regulate Medicare, Medicare remains to be unaffordable to many elderly people (Kaplan, 2011).
Introduction The United States spending on healthcare soared to 3.2 trillion in 2015, when analyzed it averages out to $ 9,990 per person and it also accounted for 17.8% of Gross Domestic Product (GDP) (CMS n.d.). The growing healthcare deficit can be attributed to the increased growth of insurance coverage provided under the Affordable Care Act (ACA), rising medical cost, and most of all spending on government programs such as Medicare. Medicare is considered as one of the largest health care insurance program. In 2015, there were a total of $55,504,005 beneficiaries enrolled in Medicare plans (KFF.org).
Health Care Flexibility Health care in the United States has been a troubling issue that has drawn policymakers, business leaders, and health experts to search for viable ways to reform a system that has not adequately worked for centuries. Health care costs too much and many Americans go without needed care. Every other advanced nation has a virtual universal access to adequate health care at a much lower cost than the United States. The introduction of the Affordable Care Act (ACA) has caused a ripple effect throughout the United States, the intent is to provide adequate health care for every citizen, and however states may elect to opt out on certain provisions within the reform. Health care may vary from state to state due to demographics
Medicare and Medicaid Medicare and Medicaid were signed into law in 1965 to increase healthcare access to identified vulnerable populations. Medicare covers approximately 50 million Americans and in 2012 it was estimated that 65 million Americans were covered under the Medicaid program (Nickitas, Middaugh, & Aries, 2016). Medicare and Medicaid are considered public insurances and today are two of the largest payers in the healthcare system. This paper will attempt to define qualifications of Medicare and Medicaid and discuss the effects of the Affordable Care Act on these programs.
