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Chapter 10 Notes for ECON

Chapter 10 Notes for ECON - • shift of some state-run...

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Medicaid – state run (TX covers the minimum) Who's eligible? Primarily the economically disadvantaged Children under 6 and household income below 133% income Children under 19 families under the poverty level Pregnant women Must Cover? Medical benefits be provided Hospital care (inpatient and outpatient) Physician care Diagnostic tests Vaccinations for children Long-term care Prenatal Care Financing States receive fed. Subsidy varies from 50% to 83% of total expenses. Subsidy is based on the state's per capita income. Wealthier states receive a smaller subsidy Two effects of change in state's per capita income 1. Income effect (Graph) 2. price effect Reasons for increase in Medicaid costs significant rise in # of enrollees significant increase in medical prices increase in # of elderly and disabled needing long-term care
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Unformatted text preview: • shift of some state-run programs into the Medicaid program What is poor? Little income Little assets Spend-down assets SCHIP – state run Crowding out – switch who were are being insured with govt Medicare – Federal program Primarily for the elderly (over 65) Part A – hospital – compulsory Part B – Supplemental INS Part c – Medicare Advantage Part D – prescription drug coverage Medicare and hospital reimbursement 1983 – Switch from Retrospective payment to prospective payment DRG – diagnosis related group Medicare and physicians 1989 Resource – based relative value scale system Limits on balance billing assignment of benefits Balanced Budget Act 1997 Set up managed care plan option Medicare Modernization act – 2003...
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