Health Care Financing Administration: A Case Study
Centers for Medicare and Medicaid Services (CMS), formally known as Health Care Financing Administration (HCFA), was signed into law on July 30th 1965 by President Johnson. At the beginning of this Medicare program it had only included hospital insurance and medical insurance. Medicaid on the other hand had medical insurance for people that needed assistance with financial issues. Since then both Medicare and Medicaid have expanding greatly to include prescription drugs, people who need long-term care of all ages and also expecting mothers. CMS is also the federal body responsible for administering Medicare and Medicaid programs. CMS runs the State Children’s Health Insurance Program (SCHIP), which is jointly financed by the Federal and State