SOLUTION: Strayer University Medicare Health & Medical Paper


View attached explanation and answer. Let me know if you have any questions.1MedicareNameInstructorInstitutional AffiliationCourseDate2HistoryAs a result of an insurance market dominated by work-related group coverage, since itsinception in 1965, the Medicare program has provided health insurance and financial stability toAmerican seniors (Medicareresource.org, 2020). As the first milestone toward universal healthcare, Medicare’s creators envisioned it as a program for the elderly. Even though this was not thecase, the program has remained relatively steady, with only slight increases in coverage andeligibility. Because physician services and prescriptions were less expensive and morepredictable at the time of Medicare’s implementation, hospital insurance was often the significantbenefit of employers (Medicareresource.org, 2020). Therefore, it was decided that hospitalcoverage (Medicare Part A) was the primary benefit of Medicare and that coverage for physicianservices (Part B) was an optional, additional benefit. Traditional Medicare beneficiaries arevirtually universally covered under Part B for physician and other outpatient services.As commercial health insurance moved toward a more managed-care approach andintegrated benefit design in 1997, the Medicare Plus Choice program was introduced with theaddition of Medicare Part C (Medicare.gov, n.d). As part of the 2003 Medicare PrescriptionMedication, Enhancement, and Modernization Act, the Medicare Plus Choice program wasrenamed Medicare Advantage. One-third of Medicare beneficiaries now have access to MedicareAdvantage programs. The Part D prescription medication benefit was also approved by Congressin 2003, reflecting the growing importance and costs of prescription pharmaceuti…

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