Medicare is amongst the biggest health insurance programs
worldwide. It accounts 20% of the healthcare expenditures, 1/8 of the Federal
Budget, and over 3% of the state’s GDP. It has a significant impact on Americas
healthcare an even economy.
In terms of healthcare, it gives financial benefit for the
elderly. It introduces the prospective payment systems. It also transforms the
transformation of the hospital system in the U.S. It promotes health research,
advanced medical technology and procedures. It even reduces the private
insurance of those retired employees.
