The Future of Medicare

The Future of Medicare

Introduction

Every country around the globe allocates a major chunk of their funds in the development and betterment of the health and medical sector. This is done to ensure quality and sufficient medical facilities and aid is provided to all the citizens without any bias. Hence, every government plans, run and maintains several official programs in order to provide various medical facilities to every individual citizen (Power, 2006).

Discussion

Because of the need and importance of medical programs, various officials of United States of America has also introduced a federal health plan known as Medicare. Medicare was aimed to provide health benefits and relaxation on the expenditures of medical services to the disabled and senior citizens. Hence, Medicare was a support to many of the under privileged sick individuals. However, future of this is not guaranteed.

Overview

The most concerning issue for the program that the cost and expenditures of healthcare facilities is exponentially increasing. Moreover, because of the constantly increasing inflation to deal with, the Government has also started to reduce its funding for the Medicare program. Hence, the management of the program is finding it difficult to deal with this gradual cut down of funds by the government. The ability of the program to provide various medical benefits to the deserving individuals and families is also affected. As a result, many of the individuals previously benefitting from the program are also consequently affected.

Current Status of Medicare

It all started in the year 2004 when the management of the program was first alarmed of the gradual reduce in the funds collected to run the program. Since then, the program never recovered from the blow. By the year 2010, the overall premiums of Medicare Advantages fall by 10% 2010. Approximately 27% of the beneficiaries were enrolled in the ...