Controlling costs of Medicare and Medicaid Health Insurance Programs Please respond to the following:
There is significant concern about the ability of the government to be able to afford Medicare and Medicaid programs. In fact, the Medicare Trustees estimate each year when the Medicare Trust Fund will go broke[ sometime in the next ten years]; that is, Medicare would only pay out what it collects in insurance premiums paid by employees and employers, requiring significant cuts in reimbursements to health care organizations.
For Medicaid, since it is a shared program between states and the federal government, state governments are concerned that they cannot afford the increasing costs of the Medicaid program. And, the federal government is as well.
- What measures do you think can be taken to reduce the costs of either the Medicare or Medicaid programs so that the funding for these programs will not be in future jeopardy?