What Factors Contributed to the Rapid Cost Increases of the Medicare

question 24

Essay

What factors contributed to the rapid cost increases of the Medicare and Medicaid programs in the 1960s, 1970s, and early 1980s?

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Definitions:

Taxable Income

The amount of income used to calculate how much the government can tax an individual or a company, after all deductions and exemptions have been factored in.

Tax Considerations

Factors related to taxation that must be taken into account when making investment or business decisions.

Vendor

A person or company offering something for sale, especially a trader in the goods market.

Terms

Conditions and stipulations specified in a contract or agreement.