Question

Medicare is currently consuming fifteen percent of the entire federal budget, while Medicaid uses an additional nine percent of the budget. Along with other federal health programs, healthcare is now thirty-seven percent of the federal budget. What are these accounts called as part of the national budget?

1) Federal Inventory Log
2) Federal Pace Program
3) National Health Expenditures
4) Entitlement Programs
5) Healthcare Performance Rankings

Answer 1

Medicare, Medicaid, and other federal health programs are categorized as 4) Entitlement Programs within the national budget. With healthcare expenses consuming a significant portion of the federal budget.

Step-by-step explanation:

The accounts within the national budget that cover Medicare, Medicaid, and other federal health programs are known as Entitlement Programs. These programs are designed to provide a safety net for various groups including the elderly, disabled, and low-income individuals, ensuring they receive necessary health care services. As of the statistics provided, these programs constitute a significant portion of federal spending, emphasizing the government's commitment to healthcare.

Medicare, established in 1965, consists of different parts such as Hospital Insurance and Supplementary Medical Insurance, among others. Its funding comes from various sources, including payroll taxes, beneficiary premiums, and general revenues. Medicaid, another major component of healthcare expenditure, significantly burdens state budgets due to its cost, resulting in some states cutting back on optional medical services.

Overall, healthcare accounts for approximately thirty-seven percent of the federal budget when combined with other health-related expenses. This percentage shows the importance and financial commitment the government places on healthcare provision within the United States.