Solving the Medicare Crisis

You are chief of staff to your brother-in-law, Representative Howard Hughes, who was recently elected to fill out a term in Congress.

He has been asked to participate in a panel discussion on the Medicare funding crisis. You have been asked to to analyze. The panel is asked to respond to a proposal for reducing Medicare expenditures by adding Part X to the current Part A - Hospital coverage, Part B - Outpatient coverage, Part C - Managed care, and Part D - Prescription drug coverage. What would Medicare Part X contain?

Key Questions

The following key questions must be addressed in the paper.

• Define the coverage element(s) for the proposed Medicare Part X.
• Provide detailed explanations of costs and benefits and related economic principles to support the proposed Medicare Part X.
• Identify how the proposed Medicare Part X will be funded.
• Include a section entitled "Contingency Planning" on how your Medicare Part X recommendation(s) would or would not change if a new federal law was passed that required all individuals over age 65 to purchase long-term care insurance for assisted-living and nursing home (i.e., skilled nursing facility) services. Be sure to include rationale and justification.

Please cite references