The Financial Health of Medicare and the Services Offered Medicare is a program of health insurance that is for people who are either above the age of 65, or they have certain disabilities and are under 65. The program was initiated in 1965 through the passing of an act in parliament and is now a widespread program, with spending totaling over $11.7 billion in 1999 alone …
While Medicare helps decrease the costs associated with health care, it does not cover all expenses, particularly those associated with long-term care . The payments received by the hospitals from Medicare are related to the number of patients rather than length of stay or quality of treatment, resulting in hospitals risking losing money if they increase the quality of patient care There are three distinct services provided by Medicare, often referred to as Medicare Part A, Part B, and Part D. These focus on different costs, and have different premiums . Medicare Part A is also known as hospital insurance. This was the first original form of Medicare, and consists of coverage for expenses incurred within the hospital, as well as some nursing, home health care and hospice care , however it does not include long-term care . In most cases, the premium for Part A Medicare is covered by the employer, if the patient has 40 or more quarters in a Medicare-covered employment. If they have between 30 and 39 quarters then there is a monthly premium of $248.00, and if they have less than 30 quarters then the monthly premium is $450 Medicare Part B helps to cover costs incurred through doctors’ services and other outpatient care. ...
The final part of Medicare is also the newest addition to the program. Part D is run through private insurance companies under contract by Medicare. Accessing Part D coverage involves being enrolled in Medicare already. The aim of Part D is to decrease the cost of prescription drugs, while also protecting against high costs in the future . Part D is also paid through monthly premiums, which are influenced by income . Each part of Medicare is supported by a separate trust fund which is mainly drawn from the Treasury and also from the premiums of beneficiaries. Part A of Medicare is considered to be in deep trouble, with funding predicted to run out completely in 2019. The same prediction does not hold true for parts B and D. While their trust funds are not predicted to run out, the increase in expenditures is increasing at a faster rate than the U.S. economy. Predictions state that within the next ten years expenditures are expected to increase by between eight and nine percent, while the economy is projected to grow less than five percent . Medicare is an effective program that provides insurance for many individuals for medical costs. While Part A can be paid through employers, parts B and D have monthly premiums. The system is widely popular, however it faces funding issues with the economy fast outpacing growth of the economy putting parts B and D in danger. At the same time the trust fund for part A Medicare is predicted to run out by 2019. ...
Cite this document
(“Medicare Funding/Reimbursement Essay Example | Topics and Well Written Essays - 750 words”, n.d.)
Retrieved from https://studentshare.net/health-sciences-medicine/44959-medicare-funding-reimbursement
(Medicare Funding/Reimbursement Essay Example | Topics and Well Written Essays - 750 Words)
“Medicare Funding/Reimbursement Essay Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.net/health-sciences-medicine/44959-medicare-funding-reimbursement.
In this case, the plan a hospital makes has relies on the funding and reimbursement is one of the funding received. However, the approach used in determining the reimbursement amount is complex with the government taking charge of deciding the reimbursement amount.
Accurate information serves as the foundation of a systematic Medicare and Medicaid reimbursement process and contributes to the ease of access in obtaining and sharing information. An associate or reimbursement specialist has the responsibility to make sure that all the necessary information is accurate and that all involved parties agreed and evaluated the reimbursement contract.
The aim of this paper is to discuss why tobacco companies should reimburse the government for health care expenses related to tobacco use. Accountability Tobacco companies have, over the years, created an uncontrollable desire to use tobacco products such as cigarettes.
Zwick was hospitalized for mild stroke for 5 days she also qualifies for SNF (Skilled Nursing Facility). Part A is activated when the doctor has ordered the inpatient treatment of an illness and it can only be treated in hospital. Mrs. Zwick is eligible for the SNF since she needed daily skilled care and had developed a hospital related medical condition.
Initially it seemed that the Act was appreciated by working class citizens, disabled and retired personnel, however after certain time frame when people started experiencing the Act they realized it was not what was expected from the Government.
The Act is not accepted open heartedly by most of the working class individuals and those who are a member of American Association of Retired Persons (AARP) 2 as it seems convenient to most of the people to acquire benefit from the Act according to their income and affordability.
Singapore is a country proud with it health care financing. The financing is designed in such a way to promote individual responsibility. The funding is also designed in such a way to promote competition between the public and the private health care facilities.
Initially it seemed that the Act was appreciated by working class citizens, disabled and retired personnel, however after certain time frame when people started experiencing the Act they realized it was not what was expected from the
reshold × ((Labor related portion × San Francisco CBSA Wage Index) + Nonlabor related portion)) × Operating CCR to Total) + Federal Payment with IME and DSH
It must be noted that the fixed loss threshold for FY 2008, 2009, 2010 and 2011 were $22,185, $20,045, $23,140 and
l Institute of Nursing Research) and private funding sources include Sigma Theta Tau International as well as organizations that are related to the field of medicine and healthcare (Loeb 197). National Institute of Nursing Research provides funds for several nursing researches
1 Pages(250 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic Medicare Funding/Reimbursement for FREE!