Suggestions

During the presidency of Bill Clinton, a reform package for Medicare was catered but widely opposed by people on Medicare. The former president wanted to broaden Medicare coverage for low prescription drugs however give a fixed limit of coverage to all seniors whether or not they need additional medical assistance. Another reform proposal by Bill Clinton was to use the now extinct surplus from the general budget and use 800 billion dollars to fund Medicare for the next 15 years. The idea of a one-size-fits-all Medicare program is unfavorable because there will be subscribers which will need more or less care depending on the medical situation. Although the amount of medical prescriptions will be larger under Bill Clinton’s plan, it would still be unfavorable to the American public because each individual will need a different and now same amount of health care. From a government viewpoint, having all covered subscribers of Medicare under the same treatment will reduce overall costs, if the patient is unhappy with the treatment under Clinton’s health plan they could go to a private firm and get additional or less coverage. Under the Clinton Medicare plan, some reconstruction and broadening is the objective in hopes of solving insolvency, inefficiency, inequity, and incompatibility.

Al Gore believes there needs to be a total reconstruction of the Medicare program. He insists the problem holding back Medicare from being truly effective is that Medicare participants are unable to receive innovative medicines and services, which leaves only prehistoric treatments available. The idea of a modern overhaul of the Medicare system is widely accepted, but who will be paying the costly services and medications? 2.9 percent of the American paycheck is taken out for Medicare already; a complete revamp of Medicare will be several times and doing so may lead to a greater increase in insolvency than there already is. His idea is favorable to the American public but falls short on deaf ears when asked how exactly Al Gore’s ideas will be implemented, where the money will come from, etc. “I hope people understand that Medicare today is important, but it doesn't keep up with the new medicines. If you're a Medicare person, on Medicare, you don't get the new procedures. You're stuck in a time warp in many ways” (freepress.com, Ivins). We would like to have the latest care for the elderly but exactly how financially it can be accomplished is still ambiguous.

With the race of the presidency underway, Senator John Kerry wants to cut the current wealthy tax breaks given by President George Bush so it can be invested exclusively for education and health care/Medicare. Although, Kerry is a novice when it comes to Medicare reform and involvement-within the 19 years span of his Senate carrier has only offered 14 health care bills-the idea is promising however only temporary as it will only put a small dent in the financial problems faced with Medicare. Justifiably so, employers will be upset as the corporate and wealthy tax breaks given to help their business grow will now be handed back to the government. A more permanent and throughout proposal is needed by Senator John Kerry although he’s on the right track to Medicare stability. Perhaps a combination of Kerry’s tax elimination breaks and others will make his proposal for Medicare recovery stronger. In short, whether Democrats propose an expansion or revamp of Medicare the majority of them agree Republicans are to be blamed for the shortcomings of the Medicare program citing a direct correlation of frivolous tax breaks for the wealthily and corporations which should be housed to fund domestic spending. As Missouri Democrat House Minority Leader Dick Gephardt explains, “We all know where Republicans stand: on the side of the wealthiest people who will get the lion's share of the tax cuts, not on the side of middle income families who depend on Medicare as a lifeline for their health and retirement security” (Cnn.com, Curley).

Dick Armey, although he is of Republican allegiance, when the topic of Medicare is brought up he questions the actions of current United States President George W. Bush’s tax breaks for the extremely financial stable and believes Medicare cannot be saved. “Medicare probably depresses me more than Social Security. We know how we can fix Social Security. We can turn Social Security into good news with personal retirement accounts. While Medicare still is a horrible nightmare, at least we can fix Social Security” (Pittsburghlive.com, Steigerwald). In his eyes, the current system cannot be adjusted and must be scrapped and constructed from the ground up. Once again, another costly but more drastic measure than Al Gore however Armey is more pessimistic on Medicare’s state; it will not survive no matter what is done.

“If [Bush] is a reformer, than I’m an astronaut” (McCain, 2004). Factious as it sounds; John McCain is against the way Medicare is being run by President George Bush. The Republican Arizona Senator believes a reimportation of prescription drugs, to stimulate competition among foreign and domestic medical suppliers and providers is needed to lower the rising costs of health care; his vision of medical reform. McCain is a constantly involved with medical reform and is known for blasting legislation for disapproving his ideas. McCain points out there are too much lobbying and bureaucratic ‘tapes’ which prevent a more effective Medicare. Not allowing foreign competition to entire into U.S. soil is a unique way in handling some of the problems of costly prescription drugs, however the current management of the White House is opposed to such ideas; also McCain’s proposal needs to have additional solutions accompanied along with it becomes a temporary fix.

Under the Bush administration, recent tax cuts to the wealth have prompted major uproar from both Democrat and Republicans alike. However, tax cuts cannot be blamed entirely for Medicare’s problem. Alternative solutions must be discovered, instead of placing a tax break by the current president as a scapegoat.

There was a recent proposal of cutting health cost to 70 percent is currently in hot debate because it’s too vague and does not go into detail if the 70 percent deduction will be toward prescription drugs, also the American Association of Retired People or AARP are protesting President Bush’s recent proposal of Medicare even though it may go toward prescription drugs. The AARP claims there are too many “loopholes” in Bush’s plan. The main concern from the AARP is that the medical industry, drug industry, etc. does not stop them from raising their drug/benefit/service prices to 30-70 percent to compensate for the “discount” senior citizens will receive. The need of a universal reform on Medicare is needed however Bush’s proposal at its present state does not hold water. In this case, he’s stepping toes on the largest and strongest organization in relation to political pull/power, the AARP.

Fidelity Investments has a proposal of starting a fund similar to a 401k as a substitute for a medical savings plan. Fidelity is aware of the costs of the elderly can reach over $175,000 in just medical expenses alone; a price tag most Americans can never afford. The stability of Fidelity Investments as well as their superb returns (i.e. Magellan Funds) makes them a likely candidate for the plan. The idea of having assistance from other organizations in bearing the weight of Medicare and other health care converges is a promising part of the Medicare solution. Although the process is still in its infant stage, the idea could be the beginning of a Medicare recovery or perhaps a full responsibility of the elderly individual than with the government.

After careful consideration we believe a conglomerate of most of the proposals in allowing medical competition into Medicare, slowing extending the age requirements of Medicare, increasing payroll taxes, eliminating medical prescription coverage, and allowing private institutions help carry the financial burden of the Medicare problem will help slow the progress of Medicare’s life expectancy. We hope by then there can exist a joint endeavor by the private markets to handle the medical program for the elderly.