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History & Society
Medicare and Medicaid
United States health insurance
Category:
History & Society
- Date:
- 1965 - present
- Areas Of Involvement:
- old age
- health insurance
- government support
- Related People:
- George W. Bush
- Chuck Grassley
Recent News
Jan. 25, 2024, 11:53 AM ET (AP)
Humana warns that rising care costs will persist through 2024, surprises Wall Street with forecast
Jan. 10, 2024, 4:09 PM ET (AP)
'Obamacare' sign-ups surge to 20 million, days before open enrollment closes
Medicare and Medicaid, two U.S. government programs that guarantee health insurance for the elderly and the poor, respectively. They were formally enacted in 1965 as amendments (Titles XVIII and XIX, respectively) to the Social Security Act (1935) and went into effect in 1966. The Medicare program covers most persons age 65 or older and consists of four related health insurance plans: a hospital insurance plan (called Part A); a supplementary medical insurance plan (Part B); and two privately run plans, Medicare Advantage (Part C) and prescription drug coverage (Part D). The hospital plan is financed through Social Security payroll taxes. ...(100 of 1142 words)