Governmental Program Research Paper Example | Topics and Well Written Essays - 1500 words

Governmental Program - Research Paper Example Part B also called medical Insurance helps cover doctors’ and other health care providers, services, outpatient care and home health care. It also covers preventive services. Here most people pay a standard Medicare part B Premium. Medicare part C also known as Medicare advantage offers health plan options run by Medicare –approved private insurance companies. Part D also called Medicare prescription drug coverage helps cover the cost of prescription drugs. It also helps in lowering the cost of prescription drugs and shield against higher cost (CMS, 2011). Financial Compliance Medicare spending is a large component of the federal budget and national health spending, in 2006 the Medicare benefit payments totaled $374 billion, in 2007 Medicare spending accounted for 12% of the federal budget and the same year spending on Medicare benefits was 20% of the nation’s total health care sending (Kaiser, 2007). Medicare is financed majorly by payroll tax revenues, general revenues and premiums paid by beneficiaries. Part A is financed by a dedicated tax of 2.9% of earnings paid by employers and their employees. Part B is financed through a general revenue and premiums paid by beneficiaries. ... its part has ensured that they comply with all the laws put in place to ensure that the money generated from revenue streams is spent on the right services (Piper, 2011). In order to prevent fraud, wastage and abuse in Medicare the department of Human and Health services has instituted the office of the Inspector general and another department that works jointly with the HHS called the Fraud Prevention and enforcement team (HEAT). The two offer compliance training programs such as seminars, training materials and webcasts (Piper, 2011). To ensure that there is compliance another program was begun called the Senior Medicare Patrol program which aims at educating the older adults on Medicare benefits how to prevent detect and report health care fraud. The program recruits volunteers nationwide in the effort to empower older adults to protect themselves from fraud. The programs initiatives are funded by the US administration on Aging (HHS & DOJ, 2011). This program together with the HEA T task force has ensured that they reduce false billings that. This year alone it was able to charge 91 defendants for participating in Medicare fraud schemes that involved approximately $295 million in false billings. Although Medicare as a government agency has complied with all the laws pertaining to financial compliance and used the money they have been allocated wisely, there exist insurance agencies who work on behalf of the Agency that take part in fraud schemes in order to taint the name of the Agency. False billings are a common phenomenon and this has made Medicare to look into ways of ensuring that they stop this kind of fraud. Otherwise all departments have complied with the law (HHS & DOJ, 2011). Economy and efficiency Medicare is considered more economical and efficient in