The law that led to Medicare and Medicaid was signed by President Lyndon B. Johnson on July 30, 1965. At that time, the program included Part A (Hospital Insurance) and Part B (Medical Insurance). This is now known as “Original Medicare” or “Traditional Medicare”, and approximately 44 million people are part of the program today. Fun fact: Former President Harry S. Truman was the first enrollee of Medicare. Lyndon B. Johnson signed him up right after signing the bill into law.
Medicare today
Since its inception, many changes have been made to Medicare to increase its reach and impact. Now, more people are eligible for Medicare than ever before, including those with disabilities or those who need long-term care, regardless of age.
Medicare itself has been expanded to include coverage for prescription drugs (Part D), which started in 2006. It also now provides private insurance options for Medicare plans, called Medicare Advantage. These plan types (along with Medicare Supplement plans) give beneficiaries a wide range of options to choose from when it’s time to shop for Medicare insurance.
What is the best Medicare plan?
Since Medicare plans have expanded, the right Medicare coverage for you depends on your specific lifestyle, health needs, and budget. What works for your neighbor may not be the best plan for you. That’s why United Medicare Advisors works with clients one-on-one.
