Question

Discuss the Medicare system along with the problems that currently exist in the program. What are some ways that that system might be improved to better serve American citizens over a longer period of time?

Answer 1

Medicare is a national social insurance program administered by the federal government, accessed primarily by seniors aged 65 and older, and by some people living with a disability ,However, this financing approach is not actuarially sound: Expenses are increasing faster than revenues, leading to a projected trust fund bankruptcy the program is financed by a combination of payroll taxes, general Federal revenues, and premiums.

Medicare is oriented towards acute care, and such services as long-term nursing home care, routine eye care, and outpatient prescription drugs are not covered. Moreover, Medicare patients must also pay coinsurance and deductibles

Medicare covers less than one-half of the total medical care expenses of the elderly,some ways that that system might be improved to better serve American citizens over a longer period of time

• Reduce Health Care Cost

• Reduce Administrative costs

• appropriate utilization of the medicare system