Category: Medicare (Page 2 of 5)

      The Cost Of Aging Is Outpacing Resources

      April 15, 2012 /

      As we are living longer the cost of aging increases.

      A strain on private pensions, social security and on health services could prove problematic.

      Raising the retirement age, increasing taxes to fund public pension plans and lower benefits could hep mitigate the strains of an aging population.

      Educating citizens better on how to prepare for their retirements and by promoting retirement products that protect people against the risk that they outlive their assets.

      Already the cost of caring for aging baby boomers is beginning to strain government budgets, particularly in advanced economies where by 2050 the elderly will match the numbers of workers almost one for one. The IMF study shows that the problem is global and that longevity is a bigger risk than thought.

      “If everyone in 2050 lived just three years longer than now expected, in line with the average underestimation of longevity in the past, society would need extra resources equal to 1% to 2% of GDP per year,” it said in a study to be released in its World Economic Outlook next week.

      Health Care Policy, Medicare, Quality Control

      Generic Or Not Generic?

      March 26, 2012 /

      Whether choosing generics because of cost or availability you would think that their safety and efficacy would be guaranteed by the maker, much like brand name products.

      It seems like this is not the case.

      Across the country, dozens of lawsuits against generic pharmaceutical companies are being dismissed because of a Supreme Court decision last year that said the companies did not have control over what their labels said and therefore could not be sued for failing to alert patients about the risks of taking their drugs.

      Now, what once seemed like a trivial detail — whether to take a generic or brand-name drug — has become the deciding factor in whether a patient can seek legal recourse from a drug company. The cases range from that of Ms. Schork, who wasn’t told which type of drug she had been given when she visited the hospital, to people like Camille Baruch, who developed a gastrointestinal disease after taking a generic form of the drug Accutane, as required by her health care plan.

      Health Insurance, Medicaid, Medicare, Quality Control, Research, Resources, Wellness

      The Financial Toll Of Caring For Those With Alzheimer’s

      March 5, 2012 /

      Although no one wants to look at caring for an ill loved one as a burden, however, there is no denying the overwhelming financial cost involved.

      Unpaid caregivers are a huge part of the economy which is growing every year with the increase in Alzheimer’s and dementia cases as baby boomers age.

      There is an urgent need to address this national emergency.

      Caring for a family member with the personality-draining disease can take a hefty financial and emotional toll. Nearly 15 million people fall into the role of unpaid caregiver for those sick with dementia, according to the Alzheimer’s Association. Add it all up, and it comes to about 17 billion hours of unpaid care valued at $202 billion in 2010 alone.

      So to help with the staggering cost of care, the Obama Administration has included $26 million in the proposed 2013 budget. That money will go to education, outreach and support for families affected by the disease.

      Health Care Policy, Medicare, Quality Control, Resources, Wellness

      From Nursing Homes to Home Care

      February 24, 2012 /

      Home care is expanding as the bulge of the population ages home care offers more care options for elderly who can no longer afford or need professional ’round the clock care.

      Over the next three years, New York State plans to shift 70,000 to 80,000 people who need more than 120 days of Medicaid-reimbursed long-term care services and are not in nursing homes into managed care models, Mr. Helgerson said.

      The move away from nursing homes was highlighted on Thursday when Cardinal Timothy M. Dolan announced that the Archdiocese of New York, one of the state’s largest providers of nursing home care, is selling two of its seven nursing homes and opening or planning to open seven new adult day-care centers over the next three years.

      Medicare, Quality Control, Resources, Wellness

      Insurers Don’t Like the Big Business of Sleep Apnea

      January 22, 2012 /

      Sleep apnea is proving to be a drain on insurance companies.

      Snoring was once considered an annoyance, however, research has shown that complications can increase the risk of several serious illnesses, including heart disease, stroke and dementia.

      Testing can be a lucrative business, and labs have popped up in free-standing clinics and hospitals across the country. Over the past decade, the number of accredited sleep labs that test for the disorder has quadrupled, according to the American Academy of Sleep Medicine.

      At the same time, insurer spending on the procedure has skyrocketed. Medicare payments for sleep testing increased from $62 million in 2001 to $235 million in 2009, according to the Office of the Inspector General.

      Although the initial cost may be a burden on insurers the hope lies in the prevention of more serious and costly ailments in the future.

      Health Insurance, Medicare, Research, Resources, Wellness

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