Medicare - Pros and Cons

A discussion on the advantages and disadvantages of the US Medicare Prescription Drug Improvement and Modernization Act.

1,493 words () | 8 sources | APA | 2009 United States

Paper Summary:

This paper takes a look at the US Medicare Prescription Drug Improvement and Modernization Act law passed in 2003. Citing the Act as the greatest overhaul of the Medicare program in the United States since its beginning 38 years ago, the author describes why this Act was deemed necessary. The paper discusses the factors and causes that led to the Act being drafted and enacted and also explains why the costs of the Medicare Prescription Drug, Improvement & Modernization Act of 2003 outweigh its advantages.

From the Paper:

"The costs of the Medicare Prescription Drug, Improvement & Modernization Act of 2003 outweigh its advantages. The vast majority of the MMA's funds are spent on keeping costs privately regulated and it further privatizes Medicare which costs taxpayers more money. It has estimated to cost up to $450 billion dollars and may be partially responsible for the recession that the United States is currently facing due to excessive expenditures by the United States government."

Sample of Sources Used:

Academy Health (2007). Medicare Part D: Strengths and Weaknesses. Retrieved November 13, 2008, from Academy Health Organization Web site: http://www.hcfo.net/topic0807.htm
Andrews, W. (2006). Notebook: Medicare In Nursing Homes. Retrieved November 13, 2008, from CBS News Web site: http://cbsnews.com/stories/2006/05/07/notebook/ main1604406.shtml?source=search_story
Centers for Medicare and Medicaid Serivces. (2008). Prescription Drug Coverage. CMS Web site:http://www.cms.hhs.gov/PrescriptionDrugCovGenIn/
Citizen (2002). Pharmaceutical Industry Ranks as Most Profitable Industry. Retrieved November 13, 2008 from Citzen Web site: http://www.citizen.org/pressroom/release.cfm? ID=1088.
Committee on Government Reform-Minority Staff (2006). Medicare drug prices are increasing rapidly. Retrieved November 13, 2008 from United States House of Representatives Web site: http://oversight.house.gov/Documents/20060221102046-85441.pdf.