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Essay / Research Paper Abstract
A 5 page paper discussing two issues in microeconomics: Medicare affecting the incentives to consume medical services and the structure of US income tax system. Medicare controls all of US health care by virtue of its automatic price increases and control over care providers’ ability to deviate from the Medicare price structure. Insurance companies follow Medicare’s lead. Discussion of the US tax system focuses on the Laffer curve and its expression in “Reaganomics.” Bibliography lists 3 sources.
Page Count:
5 pages (~225 words per page)
File: CC6_KSeconMicTaxMed.rtf
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Unformatted sample text from the term paper:
Microeconomic systems and choices are operational in specific areas, such as government function, business operation and household choices. The effects of choices made within the
context of microeconomics contribute to and shape macroeconomic conditions. Medicares effect on US health care and the US tax structure provide examples. Issue 2. Medicare affecting the incentives
to consume medical services Medicare was born of noble ideas and certainly retains a place in the health care of the nations elderly,
disabled and indigent. It has come to control all of U.S. health care, however, a result that the government did not intend when establishing Medicare in the 1960s.
At present, Medicare virtually rules all of American health care by virtue of its influence on private insurers. It directly influences the degree
to which health care costs rise in that it establishes what it will and will not pay for goods and services. Medicare Managed Cares fee schedule provides guidelines for
private insurers, and they set their acceptable fees at similar levels. There is intense and ongoing debate about the future of Medicare, the
need for reform and the shape that such reform should take. As politicians haggle over private interests and noble ideals that no one can afford, Medicares influence on health
care increasingly affects microeconomic choices of households and businesses, as well as the larger national economy. This is an unintended result of Medicare,
and one that is difficult to resolve. Our nations seniors are responsible for most health care expenditures, merely because of their age and the increased need for direct care
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