Government Entitlements

Finance allah shmoop what is medicaid medic You hear the

soldier screaming all the time in war movies i need

aid Well that kind of is what it is Financial

aid but medicaid is basically health insurance for the poor

that is administered by the states but whose purse strings

are generally controlled federally i'ii centrally In washington medicaid is

the financial health bomb for over sixty five million americans

who simply can't afford their own health insurance Taxpayers give

their dough to the government which then re apportions it

to the masses to pay for everything from treatment of

boo boos and out cheese Teo you know serious things

Why do we have it Why do we have medicaid

Well if you're a middle class quote average josie unquote

in this country and on any given sunday night you're

sitting in your heated home while it's snowing outside and

you have your tv on and you belt from a

nice meal How you going to feel seeing a slow

moving stream of homeless joe's walking by outside coughing desperate

for health care How does that feel Well maybe the

costs were so high they used to be you sitting

In there nice warm house but their kid got sick

or they got sick or something else happened and had

to sell their home their car everything covered the doctor

bills So yeah as a country we just don't do

india Yeah we don't treat people like that We don't

have our politicians and successful people live like this while

the huge percentage of our population you know lives like

this Medicaid is one of a bunch of social welfare

entitlements we offer as a country and we posit that

these combined are in fact one of the many things

that does make us great So yeah medicaid is specifically

angled toward covering the medical cost of the poor it's

not done perfectly it's not done efficiently it could be

done a whole lot better but at least it's done

We also have medicare which covers the medical costs of

the old the g's er's the ones who no longer

work for the most part except for driving for uber

there are over sixty five and many of them are

sick or at least they need pills in one form

or another Medicare comes in a few flavors all named

part this and part that like there's part ay which

covers hospital insurance ever been to an e r they

cost like a grand or three a night Yes more

than the honeymoon suite at pebble beach and way less

fun And if things are really bad it covers hospice

Yeah for the the end with capitol the end then

there's part b which covers the more basic less emergency

today today outpatient care issues from pill subscriptions toe therapy

then there's part c which is basically the arrangement between

your employer and government health care You know hmo's p

pose and so on that is essentially your employer pays

medicare to just handle your coverage soup to nuts and

you know unless you're allergic to nuts don't don't don't

do that and party is all about drugs D for

drugs see thats what it stands for that's how you

remember it that's medicare and medicaid these social entitlements while

helping plenty of people cost the country of fortune And

yes there is corruption in the system and lazy people

who are just they're collecting a paycheck And yes computers

and robots will help us manage all this stuff more

efficiently in the future But the suffering they stave off 00:03:07.92 --> [endTime] is worth it