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Finance allah shmoop what is medicaid medic You hear the

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soldier screaming all the time in war movies i need

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aid Well that kind of is what it is Financial

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aid but medicaid is basically health insurance for the poor

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that is administered by the states but whose purse strings

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

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the financial health bomb for over sixty five million americans

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

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their dough to the government which then re apportions it

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to the masses to pay for everything from treatment of

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boo boos and out cheese Teo you know serious things

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Why do we have it Why do we have medicaid

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

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

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

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you have your tv on and you belt from a

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nice meal How you going to feel seeing a slow

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

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for health care How does that feel Well maybe the

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costs were so high they used to be you sitting

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In there nice warm house but their kid got sick

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or they got sick or something else happened and had

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to sell their home their car everything covered the doctor

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

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

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have our politicians and successful people live like this while

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the huge percentage of our population you know lives like

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this Medicaid is one of a bunch of social welfare

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entitlements we offer as a country and we posit that

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these combined are in fact one of the many things

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that does make us great So yeah medicaid is specifically

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

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

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

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We also have medicare which covers the medical costs of

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

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work for the most part except for driving for uber

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there are over sixty five and many of them are

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sick or at least they need pills in one form

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or another Medicare comes in a few flavors all named

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

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covers hospital insurance ever been to an e r they

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cost like a grand or three a night Yes more

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than the honeymoon suite at pebble beach and way less

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fun And if things are really bad it covers hospice

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Yeah for the the end with capitol the end then

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

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today today outpatient care issues from pill subscriptions toe therapy

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

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

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pose and so on that is essentially your employer pays

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medicare to just handle your coverage soup to nuts and

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

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do that and party is all about drugs D for

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

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

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helping plenty of people cost the country of fortune And

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yes there is corruption in the system and lazy people

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

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and robots will help us manage all this stuff more

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

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