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            RE: Discussion Prompt

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            RE: Discussion Prompt

            Medicare primarily serves people who are above 65 years as well as dialysis patients and younger disabled people. Non-hospital coverage requires small monthly premiums patients are required to pay part of their healthcare through hospital deductibles and other costs. Part A and Part B of Medicare carters medical and hospital insurance while Part C and Part D of the insurance covers prescription drugs and flexibility. Individuals, however, still have to pay coinsurance and copays even when Medicare covers a treatment. Most prescription drugs costs are also paid by patients, making the coverage expensive to some elderly who might have diminished income.

Medicaid, on the other hand, is an assistance program meant to serve low-income individuals from any age bracket. Patients are not required to pay for part of costs for medical expenses that are covered, but a small co-payment may sometimes be required (Galan, 2020). State and local governments run the program according to federal guidelines and it varies from state to state. Gaps in the Medicaid program exist in some states which refused to expand the program, hence making adults that live under the poverty level not eligible for any financial assistance. Individuals within such states do not also qualify for premium subsidies, hence making health coverage more expensive.

I support the Social Security program since it has the potential of providing care to the elderly population or to individuals who qualify for it at a time when they need it the most. The program offers a scalable set of benefits and allows individuals to retire and claim their benefits when they are 62 years. However, when individuals wait until they turn age 70 to collect their rewards, they stand to maximize their benefits. Each household is allowed to choose a structure that suits them hence allowing for flexibility. Changes should be made to allow low-income households to benefit maximumly like high-income earners based on reward calculations.

References

Galan, N. (2020). What are Medicare and Medicaid? Medical News Today. Retrieved from: https://www.medicalnewstoday.com/articles/323858#medicaid

 

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