Credit portal




When Did Medicare Start

when did medicare and medicaid start

When Did Medicare Start.

The Social Security Act of 1965 was signed into law on July 30, 1965, by the then President of United States, Lyndon B.

Johnson, as amendments to the Social Security legislation. At the bill-signing ceremony, President Johnson enrolled former President Harry S. Truman as the first Medicare beneficiary, and presented him with the first Medicare card.In the 1960s, Lyndon B. Johnson overcame a lot of political hurdles to cover the nation’s sickest and most vulnerable population, the elderly.

Prior to 1965, more than half of the elderly, the nation’s most vulnerable population, had no access to health insurance. Many others were inadequately covered.

Medicare was, eventually, signed into law to guarantee that almost all American citizens, aged 65 or older, healthcare services coverage.

On July

1, 1966, approved by title XVIII of the Social Security Act, Medicare presented health insurance to almost all American Citizens aged 65 years or older. The insurance consisted of Part A pertaining to hospital insurance and Part B which provided for supplemental medical insurance. The benefits were similar to those available from Blue Cross and Blue Shield plans.

Part A was funded by payroll tax paid by employees, employers, and the self employed. Part A Medicare insurance was available free-of-cost to all those aged 65 or older who were already insured under the old age retirement and survivors program of Title II of the Social Security Act.

Part B was offered to American citizens of all ages and legal visitors who had resided in the country for 5 or more years.

Category: Insurance

Similar articles: