Medicare Crisis Research Paper

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Solving the Medicare Crisis Your Name Health Policy and Economics Devry University/ Keller School of Management 11/7/11 Abstract Health care programs for aged and retired individuals of the society are critical in countries that aim at bettering the medical health care of its inhabitants. Designing advanced Medicare programs enables collection of revenues and premiums from individual workers by health care related companies. Medicare programs assists aged and retired individuals get access to health care at any time of ill. Usually, retired individuals do not have other serious sources of income for supporting themselves in the lines of and acquisition of health care and basic human wants. Medicare comprises the largest…show more content…
The importance bestowed on Medicare cannot be overlooked at the expense of any other crisis the United States could be facing. Worthy to note is that Medicare started experiencing circumstantial crises in the year 2007 on the verge of global financial crisis. Being among the influential sectors of the economy, United States Government increased its budget margins extended to the health care and Medicare in particular. However, the problems and crises facing Medicare are persistent and unresponsive to the government’s huge budget allocation to support the program and improve general quality of health care in the United States. Currently the government has assembled a Congress panel to analyze the contemporary crisis and make viable…show more content…
This fact is due to the increasing population of the aged in the American economy. The rise in the number of the aged population has led to a spontaneous rise in the demand for the Medicare program. The rise in demand of Medicare has triggered a subsequent rise in the cost of health care in the USA. According to statistics disclosed by Bozic (2011), the consumers of Medicare will rise up to 76 million by the end of 2030. Going by the contemporary crisis in the Medicare program of America, Bozic (2011) dictates that the solution to the crisis will demand increase in the tax margin on the employees. In addition, doctors and physicians are more likely to face salary cuts to allow proper budgeting of the program. Furthermore, the increase in demand for Medicare will have an automatic upward shift in the cost of insurance. There is a link between the positive effects of Medicare and the Economic effects of the system. The existing economic effects presented by the rise in demand for Medicare occurred because of the rise in the number of aged individuals. For elderly to be accommodated by the effects of Medicare as per current crisis, particular individuals or sectors of the economy will need to be sacrificed and left to suffer the negative effects related to the increase in demand for
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