4 Triumphs and Challenges in Medicare and Medicaid’s 50 Years
By Sara Heath
After 50 years as laws, Medicare and Medicaid have seen several triumphs and challenges, making their marks on American healthcare from expanding low-income coverage to raising serious questions about national finances..
As Medicare and Medicaid reached their 50th anniversary on Thursday, July 30, it is important to consider the trajectory of this historic piece of legislation, and to look forward into its future.
- Medicare and Medicaid is improving quality of care
Through various incentive programs, such as the Medicare Shared Savings Program, the Centers for Medicare & Medicaid Services (CMS) is encouraging quality care throughout the healthcare system. The Medicare Shared Savings Program, which focuses on the quality delivery of primary care, is one of many incentive programs offered by CMS.
By providing incentives for providing quality care, as well as implementing value-based payment models, CMS is creating a new standard within the healthcare system. Now not only Medicare and Medicaid beneficiaries are receiving high-quality care, but beneficiaries of private healthcare providers are as well.
As reported by RevCycleIntelligence.com, the Department of Health & Human Services (HHS) hopes to increase value-based payment models to 90 percent by 2018.
Medicaid expanded to fill gaps of coverage
In 2010, the Affordable Care Act (ACA) was signed into law, and as a part of that law, extended Medicaid services to more Americans. Prior to the ACA, many Americans who were unable to afford private healthcare coverage also did not qualify for Medicaid. Through the Medicaid expansion portion of the ACA, these Americans were soon to be covered.
However, there have been many setbacks regarding this portion of the ACA. In 2012, the Supreme Court ruled that states had the right to choose whether or not they participate in the Medicaid expansion. As of present, 30 states, including Washington DC, take part in expansion.
Expected rising Medicare costs
Medicare, the federally-funded program which provides healthcare for Americans over the age of 65, is expected to face financial issues in the near future as the Baby Boomer generation begins to age into the program.
According to a report by the National Committee to Preserve Social Security, nearly 52.3 million Americans benefit from Medicare. Additionally, Medicare costs approximately $407 per month for Part A, and $104.90 for part A, according to Medicare.gov.
However, as the total number of beneficiaries are expected to rise while federal funds are expected to stay the same, there is potential for Medicare deductibles to rise.
As a byproduct of the signing of the ACA, questions surrounding Medicare and Medicaid have grown increasingly complicated and controversial. However, as the laws have proven in the past, through their various successes and pitfalls, Medicare and Medicaid have the ability to transform healthcare.
