Improving Medicare Financing: Are We Up to the Challenge?
Medicare is nearly always a target of federal budget-cutting efforts, but to keep it robust and properly financed, all options must be on the table-the most likely change being a modest increase in the payroll tax, a very small income tax increase, and other ideas such sin or energy taxes, or increa...
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| Published in | Generations (San Francisco, Calif.) Vol. 39; no. 2; pp. 164 - 171 |
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| Main Author | |
| Format | Journal Article |
| Language | English |
| Published |
San Francisco
American Society on Aging
01.07.2015
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| Subjects | |
| Online Access | Get full text |
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| Abstract | Medicare is nearly always a target of federal budget-cutting efforts, but to keep it robust and properly financed, all options must be on the table-the most likely change being a modest increase in the payroll tax, a very small income tax increase, and other ideas such sin or energy taxes, or increasing Medicare premiums for Parts B and D. |
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| AbstractList | Medicare is one of the most successful programs of the federal government. It has achieved nearly universal coverage of healthcare for the most difficult populations to serve -- people ages 65 and older and those with permanent disabilities. It ranks well above private insurance in satisfaction ratings from enrollees. And while critics point to its rapid cost growth over time, its per capita rates of growth are lower than those attributable to private health insurance for comparable services. Yet Medicare is nearly always a target of federal budget-cutting efforts. Making any decision to ask some groups within the population to pay more likely will be challenging. However, when polled, most Americans indicate a willingness to pay for protecting the very popular Medicare program. Because Americans want to protect and pay for the program, it makes sense to move forward immediately with new revenue options. When paired with other reasonable reforms for Medicare, it should be possible to put the program on a strong financial footing, going forward. Adapted from the source document. Medicare is one of the most successful programs of the federal government. It has achieved nearly universal coverage of healthcare for the most difficult populations to serve -- people ages 65 and older and those with permanent disabilities. It ranks well above private insurance in satisfaction ratings from enrollees. And while critics point to its rapid cost growth over time, its per capita rates of growth are lower than those attributable to private health insurance for comparable services. Yet Medicare is nearly always a target of federal budget-cutting efforts. Making any decision to ask some groups within the population to pay more likely will be challenging. However, when polled, most Americans indicate a willingness to pay for protecting the very popular Medicare program. Because Americans want to protect and pay for the program, it makes sense to move forward immediately with new revenue options. When paired with other reasonable reforms for Medicare, it should be possible to put the program on a strong financial footing, going forward. Medicare is nearly always a target of federal budget-cutting efforts, but to keep it robust and properly financed, all options must be on the table-the most likely change being a modest increase in the payroll tax, a very small income tax increase, and other ideas such sin or energy taxes, or increasing Medicare premiums for Parts B and D. |
| Author | Moon, Marilyn |
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| Copyright | Copyright © 2015 American Society on Aging Copyright American Society on Aging Summer 2015 |
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| Snippet | Medicare is nearly always a target of federal budget-cutting efforts, but to keep it robust and properly financed, all options must be on the table-the most... Medicare is nearly always a target of federal budget-cutting efforts, but to keep it robust and properly financed, all options must be on the table—the most... Medicare is one of the most successful programs of the federal government. It has achieved nearly universal coverage of healthcare for the most difficult... |
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| SubjectTerms | Baby boomers Beneficiaries Budgets Costs Decision Making Federal Government Financial Support Funding Health Care Costs Health care policy Health Care Services Health Insurance Income taxes Key Challenges Facing Medicare’s Future Medicare Payroll taxes Prescription drugs Reform Satisfaction Social Programs Tax increases Tax reform |
| Title | Improving Medicare Financing: Are We Up to the Challenge? |
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