Compare Medicare And Medicaid

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Two of the largest government funded insurance groups are Medicare and Medicaid. Between the two, they service upwards of 40% of the total American population(2010 & 2012, KFF). However, the two programs offer various similarities and differences. Medicare is a federal government-sponsored healthcare program primarily for seniors; Medicaid is for low-income families and is managed by both the state and federal governments. By performing a SWOT analysis on each program, it is possible to compare the two. Medicare is an insurance program. Medical bills are paid from trust funds which those covered have paid into. It serves people over 65 primarily, whatever their income; and serves younger disabled people and dialysis patients. Patients pay part of costs through deductibles for hospital and other costs. Small monthly premiums are required for non-hospital coverage. Medicare is a federal program. It is basically the same everywhere in the United States and is run by the Centers for Medicare & Medicaid Services, an agency of the federal government. Medicaid is an assistance program. Medical bills are paid from federal, state and local tax funds. It serves low-income people of every age. Patients usually pay no part of costs for covered medical expenses. A small co-payment is sometimes required. Medicaid is a federal-state program. It varies from state to state. It is run by state and local governments within federal guidelines. A SWOT analysis is an examination of an organization’s internal strengths and weaknesses, its opportunities for growth and improvement, and the threats the external environment presents to its survival (Harrison, 2010). Generally, the information gathered for the analysis is organized into matrix form, howe... ... middle of paper ... ...ue to be manageable. Additionally, the Medicaid system leaves much open room for users to commit fraud undetected. Medicare would be a more ideal system if costs were based like those of the Medicaid system; many times the Medicare population are on limited incomes, so small co pays and lower medical costs would be more ideal. In conclusion, both systems function to serve a large portion of the American population. In order to continue functioning as successful systems, it would be ideal for the systems to merge and offer the best of each to all of the covered population. Additionally, this would eliminate the confusion of the two separate systems, and reduce the need for some users to be covered under both. This would also provide the preliminary support base to offer greater support for the systems. Lastly, it would offer a standardized system across the board.

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