Question

Discuss the history of Medicare and Medicaid, emphasizing the increasing cost of both programs and what was was the purpose of offering Medicare Advantage to Medicare beneficiaries?

Answer 1

The Medicare was established for the people of age 65 or above. These people were unable to avail the private health insurance. So, Medicare provided them the specific opportunity to avail the treatment facilities with the health insurance. The Medicare program was initiated by the President Lyndon B. Johnson who has signed the bill on 30th, 1965.

The increased premium rates of the Medicare and Medicaid didn't keep the pace of the health insurance availability for every person. So the people who has low socioeconomic status are unable to avail the healthcare benefits of the Medicaid and Medicare programs. There is increased rate of healthcare facilities.

The major purpose of the Medicare Advantage to the Medicare beneficiaries as it provides reimbursement of doctor's visit, blood test most of the diagnosis also includes the patient treatment.