Healthcare News

Take the Pledge:  Tell Congress to Strengthen Medicare, Social Security

July 29, 2018 Herb 0Comment
Medicare is Economic Generator
Photo Credit: AARP

According to the Washington D.C.-based AARP, older voters have identified Medicare as one of their top policy issues in the upcoming mid-term elections, yet too many lawmakers fail to clearly understand the positive contributions Medicare makes to the nation’s economy and the health security of millions of Americans. Any candidates who fail to talk about how they would strengthen Medicare for future generations do so at their peril, says the nonprofit, representing over 35 million members.

This year’s elections are some of the most important in our lifetimes, says AARP, warning that Medicare, Social Security, and other critical aging issues are on the line.  The votes of New Jersey seniors will decide whether Washington gets to work to strengthen these programs or puts the future of those retired or retiring at risk. Pledge to vote in this year’s November elections.  Go to https://action.aarp.org/site/SPageNavigator/2018_Voter_Pledge.html?intcmp=POL-ELE-VOTE.

As seniors consider a candidate, AARP calls on older voters to support and promote its guiding principles on the Medicare program:

  • Guarantee coverage to older people and people with disabilities, regardless of their incomes or health status.
  • Guarantee affordable benefits that meet the needs of people with Medicare, which means no unaffordable premiums or cost-sharing. It also means exploring ways to expand coverage to important services like dental care and hearing aids.
  • Provide high quality and high value care that is right for each person.
  • Ensure all people with Medicare have access to health care through an array of enough qualified health care providers that are sufficient to meet the needs of beneficiaries.
  • Sustain Medicare for the future by reducing waste and fraud, and ensuring that its resources are spent wisely.
  • Enable Medicare to innovate and collaborate with the broader health care system. This means ensuring that Medicare can keep up with new ideas and technologies, and work with the larger health care system to help improve quality of care.

Medicare is an Economic Generator

Nationwide, Medicare, which helped pay the health care costs of 56 million beneficiaries in 2017, is a critical part of the country’s economic infrastructure, investing about $710 billion in the national economy that year. ‘

On July 25, 2018, AARP released state fact sheets demonstrating the impact Medicare has on the economies on every state in the nation.  Below you will find the New Jersey fact sheet illustrating Medicare’s contribution to the economy of the Garden State.

Medicare Contributes $21 Billion to New Jersey’s Economy Medicare helped pay the health care costs of 1.4 million Medicare beneficiaries in New Jersey in 2017, allowing its seniors to get the care they need and protecting them from serious financial burdens. In addition, Medicare is a critical part of the economic infrastructure of New Jersey, investing about $21 billion in the state in 2017. Thousands of businesses, large and small, including hospitals, nursing homes, physicians’ offices and medical device providers, rely on Medicare to exist and maintain their operations.

Businesses in New Jersey receiving Medicare dollars use them to pay employee salaries, rent, and state and local taxes, as well as buy equipment and make capital improvements to their facilities. In fact, Medicare spending in New Jersey is equivalent to about 19 percent of spending by state and local governments in New Jersey.

The Specifics…

Here’s how much Medicare* spent in New Jersey by health care service sector:  Hospitals, $ 8.7 billion; Physicians, $ 5.3 billion; Other health professionals, $ 721 million; Skilled nursing facilities, $ 1.8 billion; Home health care agencies, $ 813 million; Prescription drugs and medical supplies, $ 3.2 billion; Durable medical equipment suppliers, $ 166 million; Other health care providers, $278 million.

* Medicare only covers short-term skilled care in nursing homes, rehabilitation facilities and at home for an illness or injury; it does not cover long-term services at home or in* a nursing home.

For information on what services Medicare covers, see “What Medicare Covers” at www.Medicare.gov or call 800- Medicare.

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