Medicare, Medicaid, and the Health Insurance Portability and Accountability Act (HIPAA) have had
significant impacts on the healthcare industry. Consider the most significant benefits that Medicare,
Medicaid, and (HIPAA) have brought to the healthcare industry and the most significant challenges they
have presented to decision making in the industry.
Research Medicare, Medicaid and HIPAA. Identify two benefits as well as two challenges.
Here is an example to get you started:
Medicare, Medicaid, and the Health Insurance Portability and Accountability Act (HIPAA) have made
significant impacts on the healthcare industry. Some have been beneficial while others have had their
disadvantages as well. From our text, benefits of Medicare allow individuals over 65, disabled individuals
of any age, and those diagnosed with end-stage renal disease to be covered by medical insurance.
Medicare Part A coverage is hospital insurance, Part B is medical insurance, and Part C, Medicare
Advantage Plans, offers Parts A and B through private companies, and Part D is prescription drug
coverage.
Medicare offers a significant benefit by providing preventative medical coverage, which is crucial for
maintaining a healthy lifestyle. This is especially important for the elderly population as life expectancy
continues to increase. As someone who has worked in assisted living residences and assisted elderly
patients with their medications, I have witnessed firsthand the challenges they face. The costs of
prescription medications can be burdensome for the elderly, leading to non-compliance and negatively
impacting their overall health. They often find themselves in a position where they must prioritize which
medication to afford based on their limited income. This financial strain can have significant implications
for their well-being.
