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History of Medicare |
Short History of Medicare
The Medicare and Medicaid programs were signed into law on July 30, 1965 by President Lyndon B. Johnson. Medicare extended health coverage to almost all Americans aged 65 or older, and Medicaid provided access to health care services for certain low-income persons.
In 1972, the Social Security Amendments expanded Medicare to provide coverage to disabled people receiving cash benefits for 24 months under the social security program and people suffering from end-stage renal disease.
In 1997, the Medicare + Choice Program (now Medicare Advantage) were signed into law under the Balanced Budget Act of 1997. Medicare + Choice gave people the option of enrolling in a variety of private health plans including health maintenance organizations (HMOs), preferred provider organizations (PPOs), provider-sponsored organizations (PSOs), private fee-for-service (PFFS) plans, and medical savings accounts (MSAs).
In 2003, the Medicare Prescription Drug Improvement and Modernization Act was signed into law by President George W. Bush. This Act added an outpatient prescription drug benefit to Medicare, increased benefits, and made many other important changes.
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