Insurance Provider for Medicare in San Luis Obispo Releases ‘The Historic View Of Medicare’
Medicare then and now
A little known fact today is that "Medicare" was originally the "Dependents' Medical Care Act," that was passed in 1956 to provide medical care for families of military personnel. Four years later, in 1961, President
The first two people to become Medicare recipients were former
The Medicare program is operated and monitored by the federal
In 1966, Medicare ended the racial segregation in thousands of waiting rooms, hospitals, and physician practices by making payments to health care providers conditional on desegregating services and facilities.
History is important
History is important because it is helpful to know how things came to be and the influence something from the past has today. With at least 55,000 people receiving Medicare in San Luis Obispo County and another 67,000 in
Learning more about Medicare. Its origins and how the program has improved health care for so many American's brings the significance of this program to an entire new generation who, in turn, will benefit from Medicare in the future.
Who pays for Medicare?
Medicare is funded from two trust funds held by the
Medicare Part B and Part D premiums along with funds authorized by
Beginning in 1966, workers paid 0.35 percent of their earnings into the Medicare system. The Medicare tax hit 1-percent in 1973 and the current 1.45-percent went into effect in 1986. Employers pay a matching percentage.
Beginning in 2013 workers earning more than
As a point of interest, in 2014 just the Part A contribution of local workers and employers to Medicare from San Luis Obispo County was more than
What Medicare has meant to Americans
Before Medicare older adults often paid over three times as much for health insurance as younger people. Approximately 60-percent of people over 65 had health insurance, but the rest could not afford it. Today, many are eligible for dual coverage by both Medicare and Medicaid.
By
In the 1980s the options of payments to health maintenance organizations (HMO) was added. The HMO option was formalized in as Part C under the Balanced Budget Act 1997. Medicare Part D was passed and signed by President
With Medicare Part C recipients began choosing coverage from private plans.
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