HealthcareAccess to quality, affordable healthcare is an issue that affects every family. The US health care system is a complicated mix of private and public payers, using a patchwork of different providers to care for patients. In this country, we have the best trained medical professionals, the most state of the art facilities, and are the world leader in technology. The US spends more on health care than any other country in the world. Ensuring Americans are able to afford the health care they need is an important priority for me in Congress. I believe a more market based approach to healthcare will lead to greater flexibility, efficiency, and lower costs.
Medicare: Medicare has been a great program that provides seniors, ages 65 and over, with healthcare. The program was most recently expanded in 2003 with the addition of the prescription drug benefit (Medicare Part D). Medicare Part D is important because many medical conditions that once led to hospital time or invasive treatments can now be managed by taking medication. This benefit allows seniors to get the life saving drugs they need at a price they can afford. Surveys show that more than 75 percent of beneficiaries are pleased with their coverage and are saving an average of $1200 more per year than those without coverage. The Part D benefit was created based on market principles, whereby private plans compete to provide drug coverage. Estimates show that over $96 billion in taxpayer funds is being saved as a direct result of competition.
I believe that true reform in our healthcare system will come by creating competition within our federal programs. One approach to bringing competition to Medicare was the creation of the Medicare Advantage program (MA). The MA plans were also created in 2003 along with the Part D benefit. These plans offer an alternative to traditional fee-for service Medicare. Enrollment in the MA program is at an all time high. The Centers for Medicare and Medicaid Services (CMS), state that: “In 2007, MA plan enrollees are receiving an average of $86 in additional benefits monthly. These benefits can include lower cost-sharing, additional benefits beyond the original Medicare benefit package (including enhanced Part D coverage), and premium reductions.
Medicaid: Medicaid is facing a financial crisis. The growing cost of this program threatens to bankrupt state budges if not reformed. Non-disabled children and adults comprise the majority of Medicaid enrollment, however, the cost of providing services to these individuals are a relatively small portion of total Medicaid expenditures. Long-term care, is the costliest program in Medicaid, yet these services are provided to relatively few users. As our population ages, long-term care needs will increase. We must ensure that Medicaid is not the only health care option for these individuals and must increase the availability and usage of private health care insurance. By providing more options for individuals needing long-term care, we can ensure that Medicaid funds are available to the children and families the program was originally intended to serve.
Health Savings Accounts (HSAs): One way to increase access to healthcare is by the use of HSAs. These savings accounts that provide a great way for people to pay for unreimbursed medical expenses. HSAs are beneficial because contributions are deductible (or excluded from income that is taxable if made by employers), withdrawals are not taxed if used for medical expenses, and account earnings are tax-exempt. Unused balances may also accumulate without limit. I strongly support the use of HSAs.
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