On July 30, 1965, President Lyndon B. Johnson signed Medicare into law as part of the 1965 Social Security Amendments. With the initial goal of providing older adults with affordable health insurance, Medicare has since transformed the American healthcare system, making live-changing resources accessible for millions of Americans.
Prior to Medicare, adults over the age of 65 without a healthcare plan through an employer or private insurance company were left on their own. However, as the number of older adults without access to medical care became increasingly alarming, the need for a health safety net program became apparent.
Referred to as “Original Medicare”, the earliest version of Medicare included Hospital Insurance (Part A) and optional Medical Insurance (Part B). However, Medicare has evolved, extending eligibility and offering beneficiaries more resources. Today, Medicare includes Part C and Part D. Part C (Medicare Advantage) offers beneficiaries a choice between an HMO-style and a fee-for-service style plan while Part D includes coverage for prescription drugs.
As of April 2024, over 67 million adults enrolled in Medicare, and enrollment is only expected to grow as life expectancy increases, and more baby boomers turn 65.
Currently, those eligible for Medicare are:
- Individuals age 65 and older
- Individuals under age 65 who:
- a. Are on Social Security Disability
- b. Have ALS and are entitled to Social Security
- c. Are experiencing Kidney Failure and are entitled to Social Security
The Medicare enrollment process may seem far away, however it is never too early to start planning. Individuals have a seven-month enrollment window; three months before and three months after the month you become eligible. Once you have enrolled, an election period occurs each year between October 15 and December 7. Enrollment must be completed prior to the election period. Deciding whether or not you are eligible, or if now is the right time to enroll, can be difficult. So, sometimes guidance can be helpful in navigating this experience. Organizations such as KAZ company aid Cleveland’s seniors in their decision to ensure you make the right decision for you.
Medicare offers many benefits to those who enroll and take advantage of the resources it provides. Although Medicare constantly evolves to fit the changing needs of the American population, it maintains its focus around its original goal of providing older adults with quality and affordable health insurance.
To learn more about Medicare and how McGregor can assist you, click here: Understanding the Basics of Medicare | McGregor Amasa
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Olivia Kuhel is a McGregor Summer Intern
