History of Medicare

As Medicare enters its 50th year serving older Americans, let's take a look at the milestones that mark the evolution of this program, which has become the largest health care provider in our nation and supports longer, healthier lives and economic security for nearly 50 million Americans. THE HISTORY OF Medi care Insurance July 30th - Parts A & B established to extend Health NAME OF BENEFICIARY м SOCIAL SECURITY ACT +-1965 SEX healthcare coverage EFFECTIVE DATE 7-1-66 Harry 5 IRn CLAIM to nearly all Americans aged 65 and older 488-40-6909A Hospital Insurance Medical Insurance 7-1-86 IS ENTITLED TO The 1st Medicare card was issued to former President Harry S. Truman July 1st- Medicare implemented with more than 19 million +-1966 individuals enrolled. $64M Annual cost: $64 Million SERVICES FHEALTH & HUMAN USA Healthcare Finance Administration established +-1977 to administer the Medicare and Medicaid programs by Department of Health, Education & Welfare DEPARTMENT Department of Health, Education and Welfare becomes Department of Health & Human Services. Medigap (Supplement Insurance) comes under Federal oversight +-1980 The number of Health Maintenance The Tax Equity and Fiscal Responsibility Act provided the foundation for substantial growth of Medicare Part C managed care arrangements Organizations (HMOS) increases to serve Medicare Beneficiaries +-1982 SOCIA L SEC URITY Social Security Administration separates from Department of Health & Human Services SEPARATESI +-1995 FROM 1996 DEPARTMENT OF HEALTH & HUMAN SERVICES SIGNATURE The Balanced Budget Act ushered in new health plan choices & a coordinated Open Enrollment Process +-1997 www.medicare.gov launched in 1998 +-1999 1-800-MEDICARE Toll-free information line set-up Healthcare Finance +-2001 Administration becomes CMS Centers for Medicaid and Medicare Services to administer programs CENTERS for MEDICARE & MEDICAID SERVICES Part D(onut) The Medicare Prescription Drug, Improvement, and Modernization Act (MMA) made the most significant changes to Medicare since its inception. Medicare Part D & the "donut hole" introduced +-2003 75% 95% Coverage Coverage $250 Doductible No Coverage $2,250-$5,100 The Patient Protection +-2010 & Affordable Care Act President Barack Obama +-2014 July 30th- Medicare Turns 49 Enrollment estimated to reach +-2015 50 Million Americans Annual cost estimated: $540+ Billion $540+B Brought to you by SeniorQuote INSURANCE SERVICES Sources: Historical Highlights at http://www.hhs.gov http://www.cms.gov/About-CMS/Agency-Information/History/index.html?redirect=/History/ www.seniorquote.com http://govbooktalk.gpo.gov/2014/07/24/happy-birthday-medicare/