Medicare provides health insurance coverage for the growing Age 65+ population of the United States. Medicare is primarily funded by a dedicated payroll tax.
Sold to the public as a health insurance program for retirees, Medicare funding has grown tremendously since its inception in 1965–as have healthcare costs in general. By interfering with doctor-patient relationships, penalizing Americans who wish to pursue independence in medical care, and driving up costs of pharmaceuticals and other medical spending, Medicare has been a disaster for everyone involved.
Medicare is also the most unsustainable of America’s entitlement programs. It is already costing taxpayers far more than its proponents predicted. If nothing is done about it, Medicare will consume over 10 percent of GDP in 2050. This is unfair to younger workers paying into the system and not the best way to provide quality care to the elderly.
Learn more about Medicare problems and solutions:
“The Medicare Spending Program”
Craig Eyermann (Independent Institute Policy Report) November 30, 2012
“Is Medicare Spending the Biggest Driver of the Deficit?”
Craig Eyermann (MyGovCost) October 26, 2012
“Obamacare and the Medicare Trust Fund”
John C. Goodman (The Beacon) February 11, 2013
“Medicare’s Progeny: The 1996 Health Care Legislation”
Charlotte Twight (The Independent Review) Winter 1998
“The Anatomy of Social Security and Medicare”
Edgar R. Browning (The Independent Review) Summer 2008
“Medicare Reform: Economics versus Politics”
Robert B. Helms (The Independent Review) Fall 2000
“The Bankruptcy of Medicare”
Anthony Gregory; April 27, 2004