While some are concerned changing Medicare is one step closer to cutting the program, others argue Medicare is not sufficiently meeting chronically ill seniors’ needs. The core reason Medicare is not stacking up is the increasing aging population. In the mid 1960s, there were 18 million Americans over the age of 65. In 2016, that figure has increased to more than 45 million Americans, and that figure will surpass 70 million Americans by 2030.
Medical advancements have also prolonged the lives of the American people. Many Americans can live to 87 or older, but with old age often comes chronic illness which is quite costly to the U.S. healthcare system. While Medicare readily pays for older Americans to undergo hip surgery, coverage may be minimal for other conditions such as Alzheimer’s disease.
While pay-for-performance is increasingly motivating physicians to focus on outcomes, this may not be enough to provide coverage to millions of Americans, Mr. Gleckman argues. Rather than imposing incremental changes to Medicare, legislators may consider starting from scratch on a health insurance program that would emphasize seniors’ quality of life. The program could provide the full spectrum of medical and social care, which takes a person’s entire well-being into account.
As healthcare transitions to the next phase, it may be time to reconsider the next step for senior coverage, and whether that step entails Medicare.
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