Can HCFA Meet Challenges Of Changing Medicare Program?
The Health Care Financing Administration keeps track of the Medicaid and Medicare programs. The health insurance programs currently occupy the largest portion of the Federal budget and things are not expected to get any better in the upcoming years. Older Americans born at the start of the Baby Boom after World War II become eligible for the Medicare Program this year. Medicaid, a program designed to provide health care for low income families and disabled workers suffers from its own budget crisis. The HCFA faces large challenges keeping the Medicare Program afloat with the large population.
Can HFCA Handle the Challenge of the Medicare Program?
The congressmen who created Medicare knew the program could run out of money. Increased longevity, combined with the numbers of Baby Boomers let the Congressional Budget Office and the Government Accounting Office know that a problem would occur when people born just after World War II reached retirement age. As it stands now, the Medicare program is unsustainable and the only way to keep the program alive is for the country to go further in debt. The Affordable Care Act contained several measures designed to keep Medicare afloat, but they measures cannot stop the sudden influx of people who now qualify for the program.
Will The Medicare Program End?
While there is a segment of the population that would like to see Medicare end on the basis of it being constitutional, the reality is that the government will try to keep the program afloat in any way possible. Too many people have become dependent on Medicare as their only form of health insurance coverage. Most of the people who have the program like it. The program may end, but it is likely severe cuts to Medicare and Medicaid will be necessary to keep both government programs solvent.