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Medicare is one of the largest health insurance programs in the world, accounting for 20% of healthcare expenditures, one-eighth of the Federal Budget, and more than 3% of the GDP. Its impact upon healthcare, the economy, and American life generally has been significant. Medicare is akin to a home insurance program wherein a large portion of the insureds need repairs during the year; as people age, their bodies and minds wear out, and organs need replacements. Medicare was created to solve a human welfare crisis that threatened to unravel the social and economic fabric of the nation. Get the best group health insurance by Capital BlueCross for your family. For more information please visit here https://www.moneycrashers.com/importance-medicare-impacts-healthcare-budget/<br>
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Importance of Medicare and Impacts on Healthcare & the Federal Budget The majority of Americans receive private health insurance through their employers while they are working, a consequence of a series of “accidents of history,” according to NPR. Medicare is one of the largest health insurance programs in the world, accounting for 20% of healthcare expenditures, one-eighth of the Federal Budget, and more than 3% of the Nation’s Gross Domestic Product (GDP). Its impact upon healthcare, the economy, and American life generally has been significant: Financial Benefit to the Elderly The Introduction of Prospective Payment Systems The Transformation of the American Hospital System Stimulus for Research, New Medical Procedures, and Technology Reduction of Private Insurance for Retired Employees Source: moneycrashers.com w w w . c a p b l u e c r o s s . c o m
