America

Question 1

History

Answer 1

Under LBJ, Medicare and Medicaid were passed in 1964

Question 2

System

Answer 2

There are 4 main components:

CHIP- covers kids whose parents insurance don’t cover kids, yet the parents make too much for Medicaid

Medicaid- for the poor, disabled, and blind. Each state administers traditional Medicaid and they determine the qualifying level of income. Sometimes it’s as low as 25% of the poverty line. The ACA expanded Medicaid coverage though, by having the federal government help pay more. So with ACA states, folks who make 16k and families who make 33k are eligible

The federal government pays about 57% for traditional Medicaid but for the newly eligible under the ACA, the federal government pays 90%

Medicare- for elderly. It has Medicare Part A which is hospital; Medicare Part B which is physician visits; Medicare Part D is for prescription drugs

Private insurance

Question 3

Expenses

Answer 3

11k per person. Most expensive in the industrialized world and 17% of GDP

Question 4

Life expectancy

Answer 4

78

Question 5

Problems

Answer 5

Most expensive in the world

10% are uninsured, prior to the ACA it was 18%

Between 2020 and 2060, the number of Americans over 65 will double to 100 million

Question 6

Nurses and doctors

Answer 6

There are 4 million nurses. The average registered nurse makes 68k, the average NP is 105k. But we have a nursing shortage

800k physicians and the average physician makes 299k. Specialists make 329k yearly. Pediatric doctors make the least and orthopedic surgeons and cardiologist make the most

Question 7

Prescription drugs

Answer 7

1 trillion dollars is spent yearly on pharmaceutical market. We account for half of the spending

There’s no national price regulation for drugs. Pharmaceutical companies set prices for brand name drugs.