I need a discussion post response to the following:
Three insights that I would like to share on Medicare are affordability, guaranteed coverage, and costs. The establishment of Medicare in 1962 provides a service for persons aged 65 and over and people with disabilities.
Once an individual retires, healthcare costs can be quite costly.
Although you must be 65 or disabled to receive Medicare, people retiring before 65 usually can be dropped by their healthcare provider and are without sufficient coverage. They have problems getting coverage. With Medicare, peace of mind enters when it covers critical care with the burden of high medical bills and negative insurance experience. Along with supplemental insurance and the usage of Medicare, there is almost little to no money paid out to the provider. Hence, peace of mind and lower cost. A percentage, based on the amount of your social security received, is taken out for Medicare.
Medicare is guaranteed coverage for individuals who reach age 65. The elderly and disabled receive quality care as participants in the program. There were 6 million Americans covered by Medicare in 2013, that means 1 in 5 of 330 million disabled were also covered (Kaiser Foundation, 2020). Medicare does not cover all services, and 93% of doctors in the U.S. accept patients in the program. Also, there are advantages plans with options used as alternatives under a contractual agreement with Medicare that cover nearly one-third of beneficiaries and have out-of-pocket limits.
Costs – With the American Care Act (ACA) onset, the beneficiary’s regular payments were reduced and closed the “donut hole” on prescription drug coverage. Medicare has an elaborate coverage plan with continuing growth in program spending as the elderly population increases. Medicare spends approximately $12,210 per beneficiary. In 2016, most had an income of less than $26,200. Fifteen percent of the federal budget spending went to Medicare or related programs.
Medicare’s impact has successfully provided and improved the health of the elderly and disabled Americans (Blumenthal, Davis, & Guterman, 2015, p. 6). Currently, this program is being revamped and discussed by members of Congress and the Senate. Hopefully, Medicare will survive under this scrutiny and continue to provide treatment to citizens of the U.S successfully.
Blumenthal, D., Davis, K., & Guterman, S. (2015). Medicare at 50—origins and evolution. The Commonwealth Fund. https://www.commonwealthfund.org/publications/journal-article/2015/jan/medicare-50-origins–and-evolution
Kaiser Family Foundation. (2020). Medicare Quiz. WordPress.com VIP. https://www.kff.org/qui/medicare-quiz/
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