Medicare And The Elderly Of The United States - 1160 Words

The quantity of Medicare eligible individuals continues to grow as the median age of the population of the United States rises. The old Medicare system has become outdated and strained because of the volume of individuals that are currently receiving benefits within the program. Since the enactment of the Affordable Care Act (ACA), Medicare has become the main source of delivering healthcare insurance for the elderly of the United States. In order to meet the current requirements of the ACA, Medicare must be reformed in order to provide the promised services for the individuals that are currently receiving benefits and for the future survival of the program. Medicare was established by the federal government to provide healthcare insurance initially for the elderly and included the disabled a few years after the program’s inception. As of 2013, there were 52.3 million beneficiaries of Medicare, with an average of $11,910 spent on each individual for healthcare, with a total annual budget of $582.9 billion (NCPSSM, 2015). Medicare is funded through two trust fund accounts that are held by the U.S. Treasury: the Hospital Insurance (HI) and Supplementary Medical Insurance (SMI) Trust Funds (Medicare.gov, 2015). These trust funds are financed by payroll deductions, Social Security benefit taxes, premiums paid by Medicare beneficiaries, interest from investments, and funds furnished by Congress (Medicare.gov, 2015). All of these resources subsidize the Medicare Trust Fund inShow MoreRelatedMedicare: The United States First Medical Social Insurance Program847 Words   |  3 Pagesunemployment, old age, or disability) in which the gover nment participates or enforces the participation of employers and affected individuals† (1). The United States government operates several national social insurance programs. Medicare is the United States’ first medical social insurance program. This program was designed to provide health insurance to the elderly and protect them from financial hardship due to illness. A thorough investigation of this program reveals the overall history, financial costRead MoreThe Aging Population Of The United States1269 Words   |  6 PagesIntroduction Demographic of the elderly in the United States. The recent growth in the number of older adults in the United States is unusual in the history of America. The anticipation of the elderly population (65+) by the year 2050 will be almost 89million people, or greater than the population of the elderly in the year 2010 (CDC 2013). The older dependency ratio is anticipated to increase suddenly from 2010 as the post-World War II baby boomers reach the older age. The olderRead MoreThe Cost Of Medicare And Reduce Its Proportion Of The Federal Budget1332 Words   |  6 Pagesthe cost of Medicare and reduce its proportion of the federal budget. These include; a) The introduction of voucher system that would enable for the more privatization in the offering of insurance policies for Medicare. b) Increasing the Medicare revenues by raising the payroll taxes that are charged on the beneficiaries. Unhealthy lifestyle choices like smoking also need to be penalized by Medicare so as to reduce the many claims related to such habits. c) Cutting down the Medicare expenses throughRead MoreU.s. History And English975 Words   |  4 PagesMay 22, 2015 Medicare Imagine your grandmother, alone in her apartment sick and no food to eat. Well, there are programs our government provides to our elderly to help them buy food, find a place to live and most importantly, help insure them. Medicare is a program that was initially created by Harry S. Truman in 1948, but Congress failed to enact it (â€Å"Curing the Health Care System†). Later it was refined by LBJ in 1965 as part of â€Å"Great Society† to help the â€Å"war on poverty†. Medicare benefits millionsRead MoreMedicare : A Federally Administered Health Insurance Program1423 Words   |  6 Pages Medicare is a federally administered health insurance program that was started in 1965 by President Lyndon B. Johnson, taking effect in 1966. The Medicare program was aimed at aiding the high percentage of elderly individuals who were without health insurance coverage and thus improve their health. Originally, Medicare provided health insurance coverage for retirees and the ir spouses 65 years and older. However, in 1972 Richard Nixon signed the first change to Medicare, allowing for certainRead MoreA Comparison Of England And The United States : Healthcare Delivery For Older Adults Essay1424 Words   |  6 PagesComparison of England and the United States: Healthcare Delivery for Older Adults Brianna Strickland University of South Florida Abstract Despite the general knowledge most people have on health care, this research examines and compares health care delivery for older adults in The United States of America and England. The goal is to adequately analyze and compare the health care delivery for the older population in both countries. The main discussion will be about Medicare and National Health Service;Read MoreHealth Care Access And The Elderly : Policies, Ethical And Legal Provisions Essay1485 Words   |  6 PagesAccess and the Elderly: Policies, Ethical and Legal Provisions Jacqueline Collins Capella University November 12, 2016 â€Æ' Health Care Access and the Elderly: Policies, Ethical and Legal Provisions The elderly population in the United States has been and is expected to increase due to the aging of the baby boomers’ generation. The percentage of the elderly in relation to the U.S. total population is approximately 14% (Novak, 2012). With the expected increment, the overall state of health acrossRead MoreHealthcare Financing For An Aging American Population1426 Words   |  6 Pagesthe healthcare financing of this particular population as well as personal position and thoughts. Overview of Aging and Health Care Financing in U.S Just like other parts of the world, the United States is no exceptional, it is an aging society. Between the year 2000 and the year 2050, the number of the elderly is predicted to increase by 135%. Again, the population of the persons aged 85 years and above, which is the group that will mostly require health and long-term services, is predicted to increaseRead MoreAging Society : Aging Population1661 Words   |  7 Pagesyears of 2000 and 2050, the overall population of the elderly population is anticipated to rise by 135%. The elderly population that is aged 85 and over, is expected to need more health and long-term care services, which is anticipated to rise by 350%. The burdens of the upcoming aging in population in the US is not so much originated from the rise in the aging population, by itself, but rather from the slower anticipated rise in the non-elderly, employed population. The gradual expansion of the employedRead MoreSocial Security and Medicare Will Hang by a Thread764 Words   |  3 PagesPeople receiving Social Security and Medicare need to prepare for drastic changes. Social Security and Medicare in unity has been around since 1965. President Lyndon B. Johnson decided to help the elderly pay for expensive medical necessities from doctor visits to medicine. President Johnson knew that elderly individuals would have less income and pay more for medical necessities than younger individuals. He made Social Security and Medicare a number one priority during his presidency, not knowing