The Ecnomics Of Medicare Essay

3629 words - 15 pages

The Economics

Of Medicare

II. Introduction

Clearly, the Medicaid program is ripe for a major overhaul, a task that the federal government has thus far been unwilling to undertake. I chose this topic because I believe that the Medicaid program can be rescued and revitalized by leadership; otherwise, it is likely to be eroded. Medicaid is a government-sponsored program whose objective is to provide patients with health assistance upon meeting specific criteria. Medicaid is an insurance program that is available for disadvantaged persons, including the elderly, who cannot afford health benefits because of low incomes or other factors. This program is subsidized by government funds and in many instances, will cover the costs of basic medical care as well as specialized testing and supplies. What are the problems with Medicaid and what should be done about them? This paper will look at 6 articles about the economics of Medicaid and analyze what should be done about this problem.

III. Summary of Article #1

In the article titled, "Health: Medicare and the Economy," by: Dean Foust, found in Business Week and published in 2004, it is stated that, cuts in Medicare would be bad for hospitals and other managed-care providers. Although the United States is considered the strongest country in the world, there are numerous political, social, and economic issues that require reform to improve our way of life. Reform is needed for the health care system in order for Americans to live a life that is both safe and prosperous. Health care and prescription drug costs, whose escalating prices have caused many Americans to go without adequate medical care. Health care is one of the most controversial issues in the news right now. The cost of health insurance and prescription drugs is now higher than ever, and is spiraling out of control. There is a widespread belief that drug company's overcharge for their medicines in order to increase profits. Many middle-class and poorer families do not have health insurance because it's too costly for them. It's a risk not to have it though, because if a person gets sick or injured, the cost of a hospital stay is thousands per day. One group that is most affected of the high cost of health care and medicines are senior citizens. It's gotten to the point for many of them that they must choose between buying medicine or food, because they only have enough money for one of them. The government needs to pass legislation and to work closely with the health insurance and drug companies to develop a healthcare plan that successfully addresses the needs of all Americans. This must include programs that enable the poor and elderly to receive the necessary care needed to maintain a healthy lifestyle. The flaws in health care are a major priority that the government needs to reform now. Although the government has already begun to change some of the major problems, there is a lot of work that still needs to be done....

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