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Write 2 page essay on the topic Medicare vs. Medicaid.It covers inpatient expenses such as rooms, meals and tests. Part B, known as supplementary medical insurance pays for necessary doctor, laborator
Write 2 page essay on the topic Medicare vs. Medicaid.
It covers inpatient expenses such as rooms, meals and tests. Part B, known as supplementary medical insurance pays for necessary doctor, laboratory and some outpatient medical costs. It is financed by premiums paid by enrollees. Part C is the Medicare Advantage Program through which private plans provide benefits to enrollees.
Part D is a prescription drug plan that covers some costs of drug and is extended to anyone eligible for Medicare. Taxes collected through the Federal insurance Contributions Act and Self employment Contributions fund the program. The government uses this to refund the services providers (Stanfield, Hui & Cross 2011).
On the other hand, Medicaid is the second largest health insurance program that serves low income citizens. Each state has its own Medicaid eligibility criteria. Recipients include children under 6years and family income is at or below 133% of Federal poverty level, adults, elderly (over 65 years) and disabled persons who have no or no income and receive state assistance such as foster care assistance (Stanfield, Hui & Cross 2011). As mandated by the Federal government, Medicaid covers the cost of outpatient and inpatient care, family planning services, laboratory tests, X-rays, transportation, rehabilitation and physical therapy services.
Payments by the State are made to the healthcare providers based on a fee for service terms or through health maintenance organizations. Then each state is reimbursed for a share of their Medicaid expenditure. Beneficiaries are exempted from copayments from family planning and emergency services.
Both Medicaid and Medicare have had an impact on all stake holders. These programs have increased the number of citizens seeking medical and health services, therefore, is predicted growth in employment in the health sector. Demand for primary care is on the rise especially from physicians and nurses with advanced degrees.
According to Stanfield, Hui & Cross (2011), as more
