Monday, January 9, 2012

Ch 14 - Medicare

What is Medicare?
Can we afford Medicare the way it is currently funded?
How should Medicare be changed?

4 comments:

  1. The Edward's book defines medicare by saying "A program added to the Social Security system in 1965 that provides hospitalization insurance for the elderly and permits older Americans to purchase inexpensive coverage for doctor fees and other expensive."(Edwards)

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    1. I believe that we can afford medicare the way it is currently funded medicare doesn't actually cover a whole lot so they aren't spending as much as the government could be on this. Medicare should be changed by making it cover more expenses. Medicare should cover more expenses and be more affordable. Medicare should make healthcare much more affordable as well as be a long-term solution to healthcare. Medicare would be much better if it decreased medical costs significantly.

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    2. I think that some other ways that Medicare can be changed is that there should be more expanded access to wellness visits for the elderly, more preventive care, and cheaper drugs with little or no change to the insurance costs. The elderly are most likely retired and not working, so some may find it hard to pay for their medicine that they must take in order to live.

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    3. I disagree and believe that we can no longer fund Medicare the way we are funding it now. In 2010 the GDP deficit was 1.7% and in 2040 it is predicted to be 4.0%. With the rising number of people in the elderly age group, and the expansion of benefits covered by the national government, the US will dig itself further and further into a national debt that they can't pay back. There are more people aging are using medicare than there are people working and adding money to the medicare pool, so the debt is ever increasing. Personally, I believe that the US should keep healthcare a private business rather than make it a national requirement and service. https://www.medicare.gov/about-us/how-medicare-is-funded/medicare-funding.html

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