Case Study: Solving The Medicare Crisis

Week 2 Case Study: Solving the Medicare Crisis

HSM 544 Health Policy and Economics

Memo:
Congressman Howard Hughes,
As Chief of Staff my task is to prepare a written response for you. You have been asked to participate in a panel discussion and give a response on the Medicare funding crisis. The panel discussion will focus on the proposal of reducing Medicare expenditures by enrolling participants in HMO’s. The National health insurance system for Americans began back with President Teddy Roosevelt, his platform when he ran for president in 1912 included health insurance. Roosevelt’s idea for a national health plan was put on hold until U.S. President Harry S. Truman pushed for the program. In November 1945, Truman requested…show more content…
Peter Ferrara states that the “government’s own reports show that Medicare will run out of funds to pay promised benefits within the next few years”. Ferrara also says “that the current source of funding for Medicare will finance approximately one third of currently promised benefits to today’s workers”. Radical measures are definitely needed to preserve the Medicare program (Ferrara, 1997). The United States is facing a severe financial crisis because of the huge spending deficits and future spending for Medicare. The baby boom population of 79 million has started enrolling in Medicare in January 2010 and for the next 20 years an average of 10,000 citizens per day will reach the age of 65 (Smith,…show more content…
(2013). Week 2 Case Study: Solving the Medicare Crisis. Retrieved from online class July 20, 2013
Ferrara, P. J. (1997, February 18). Solving the Medicare Crisis with MSAs. Retrieved July 20, 2013, from Cato Institute: http://www.cato.org/publications/commentary/solving-medicare-crisis-msas
Mcferrin, D. (2011, April 19). The Past, Present, and Future of Medicare: A Primer on the Program's History. Retrieved July 20, 2013, from LifeHealth Pro: http://www.lifehealthpro.com/2011/04/19/the-past-present-and-future-of-medicare-a-primer-o
Medicare Panel. (2012). Medicare in Crisis: Notes from Medicare Panel. Retrieved July 20, 2013, from Academic Secrets: http://academicsecrets.com/social-sciences/political-science/medicare-in-crisis-notes-from-medicare-panel/
Medicare Resource Center. (1994-2011). A Brief History of Medicare in America. Retrieved July 20, 2013, from Medicare Resource Center: http://www.medicareresources.org/basic-medicare-information/brief-history-of-medicare/
Medicare.gov. (2012). How is Medicare funded? Retrieved July 20, 2013, from Medicare.gov: