What is Medicare? Explain the components and financing of each part. What are the problems for Medicare? What are your solutions? 

What is Medicare? Explain the components and financing of each part. What are the problems for Medicare? What are your solutions?
The  paper should be 3 pages and include the following and must be free of plagiarism
Introduce and define the topic (your study group knows nothing about it).
Discuss the details of the topic.
What are the pros and cons (or support vs opposition)?
What is your personal stand on the issue?
After reading the briefing paper, a member of your support group should have a general understanding of the issue.

KEY TAKEAWAYS BEFORE ATTEMPTING THIS ASSIGNMENT

Medicare is a federal health insurance program that helps to provide medical care to millions of Americans, including those who are over the age of 65, disabled, or have end-stage renal disease. In this essay, I will provide an overview of Medicare, including the components and financing of each part, identify and discuss the current challenges for Medicare, and propose potential solutions to address the issues with Medicare.
Medicare is a health insurance program for people 65 and older, certain people with disabilities, and people with End-Stage Renal Disease (ESRD). It is managed by the Centers for Medicare & Medicaid Services (CMS). Medicare is divided into three parts: Part A (Hospital Insurance), Part B (Medical Insurance), and Part D (Prescription Drug Coverage). Part A covers inpatient hospital stays, skilled nursing care, hospice care, and some home health care. Part B covers medically necessary services like doctor visits, preventive services, outpatient care, mental health care, durable medical equipment, laboratory testing, and x-rays. Part D covers prescription drugs. Medicare is funded by payroll taxes and premiums paid by beneficiaries, as well as general federal revenue. According to the study conducted by Gandek et al. (2004), the majority of revenue comes from payroll taxes and premiums, with general revenue accounting for only about 20%. Payroll taxes are collected from employers and employees, and the premiums are based on income. The remaining revenue comes from interest and other sources.
The current challenges for Medicare are numerous and complex. According to KN Lohr, there are five main issues facing the Medicare program: access, cost, quality, sustainability, and innovation (1990). Access to Medicare has been a problem for many individuals, as the number of individuals enrolled in Medicare is far lower than the number of people eligible for the program. Furthermore, the cost of Medicare continues to rise, placing a strain on the program’s budget. Additionally, the quality of care for individuals enrolled in Medicare is often lower than the quality of care available through private health insurance plans. Furthermore, Medicare’s long-term sustainability is uncertain due to the rising costs of the program and the aging of the population. Finally, Medicare is in need of innovation to better meet the needs of individuals, as the current program is outdated and in need of an overhaul. These five issues present a formidable challenge for the Medicare program, and it is essential that the program be adequately addressed in order to ensure the health and wellbeing of individuals enrolled in the program.
The issues with Medicare are complex, and there are numerous potential solutions that could be proposed to address them. One potential solution is to increase the number of specialists available to provide care, as suggested by EC Rich et al. in their 2002 study in the Journal of General Internal Medicine. They found that specialist shortages, particularly in rural areas, are a major contributor to the issues with Medicare, and increasing the number of specialists available could help alleviate this. Another potential solution is to focus on preventative care, rather than reactive care, as this could have a significant impact on the cost of Medicare. Additionally, the use of telehealth services could be expanded, allowing patients to receive care while avoiding costly visits to the doctor. Finally, efforts could be made to better coordinate patient care among multiple providers, as this could help reduce miscommunications and improve the quality of care. These are just a few of the potential solutions that could be proposed to address the issues with Medicare, and further research is needed to determine the most effective approaches.
In conclusion, Medicare is a system of health care insurance for individuals over 65, those with certain disabilities, and those with end stage renal failure. It is made up of several different parts, including Part A (hospital insurance), Part B (medical insurance), Part C (Medicare Advantage Plans), and Part D (prescription drug coverage). Each part is financed by different combinations of taxes, premiums, and out-of-pocket expenses. While Medicare provides important coverage, it can have high expenses for beneficiaries, have coverage gaps, and create challenges for plans and providers. Solutions to these problems include giving beneficiaries more flexibility and choice for plans, lower costs for prescription drugs, and expanded preventative care services. By taking the necessary steps to address these issues, Medicare can continue to provide much-needed coverage to qualified individuals.
Work Cited
SJ Sinclair., M Kosinski.”Psychometric evaluation of the SF-36® health survey in medicare managed care.”https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4194895/
M Srinivasan.”Medicare financing of graduate medical education: intractable problems, elusive solutions.”https://onlinelibrary.wiley.com/doi/abs/10.1046/j.1525-1497.2002.10804.x
KN Lohr.”Medicare: a strategy for quality assurance, volume I.”https://books.google.com/books?hl=en&lr=&id=zjn3Okf6kesC&oi=fnd&pg=PP10&dq=2.+Problems+for+Medicare:+Identify+and+discuss+the+current+challenges+for+Medicare.+&ots=Q5gfFu2GaD&sig=6dkMCmxsqHp0R4s43kkPqy1AjME
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