HEALTH CARE FINANCE
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Since Congress passed Medicare in 1965, the program has been subject of countless debates on topics ranging from reimbursement rates to the potential bankruptcy of Medicare.
Using the literature that you find yourself, discuss Medicare and its financial state/health.
Limit your responses to a maximum of three pages. Be sure to properly cite all sources.
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The response addresses the queries posted in 880 Words, APA references
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The response addresses the queries posted in 880 Words, APA references
Medicare
In the year 1965, as statements to Social Security Legislation, the Congress passed an act for the Social Insurance Plan i.e. 'Medicare' in order to cover the risk and to furnish the benefits of insurance to the retried citizens and unemployed poor people. It functions as a single-payer Health Care System. The program of Medicare is dealt by the United States Government that mainly constitutes the plan of health insurance that provides coverage to the individuals aged 65 or above (Social Security Act Amendments - Medicare, 1965, 2006).
The Health Insurance Program includes the Hospital Insurance and Supplementary Medical Insurance. In the Hospital insurance plan, hospitals cost and pertained care cost is insured. Whereas, in Supplementary medical insurance, only the defrayals made for services like doctor's treatment, medical & health services, etc is covered (THE DEVELOPMENT OF MEDICARE).
The main motive of the Congress behind passing 'Medicare Act' was to raise the benefit for the general public i.e. Old age citizens and disabled individuals, who were not included under the Employment focused model. For Medicare health insurance plan, the Social Security Administration is highly responsible for deciding the Medicare quality & state of eligibility and insurance premium and on the other hand, Chief Statistician of CMS is responsible for rendering all the vital information related to the accounts and cost projections to the Governing Board of the Medicare, so that it can easily analyze the financial ...
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