Medicare

Medicare

The Social Security Act of 1965 was signed into law on July 30, 1965, by President Lyndon B. Johnson as amendments to existing Social Security legislation. This legislation established the Medicare program.

Medicare is a social insurance program administered by the United States government, providing health insurance coverage to people who are aged 65 and over; to those who are under 65 and are permanently physically disabled or who have a congenital physical disability; or to those who meet other special criteria. The "Original Medicare" plan, i.e. Medicare without Medicare Advantage added on, coverage extends to 80% of any given medical cost; the remaining 20% of cost must be paid either a Medicare Advantage plan, which is a "supplemental insurance" from a private health insurance company, or with out-of-pocket via the patient's own personal funds.

Cry Wolf Quotes

[Federal control of medicine would ] anesthetize [American Medicine] the proud symbol of our competitive system.

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AMA President Dr. George M. Fister.
11/27/1962 | Full Details | Law(s): Medicare

Will you resist the temptation to get a government handout for your community? Realize that the doctor's fight against socialized medicine is your fight. We can't socialize the doctors without socializing the patients. Recognize that government invasion of public power is eventually an assault upon your own business.

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Ronald Reagan
10/27/1964 | Full Details | Law(s): Medicare

This program could destroy private initiative for our aged to protect themselves with insurance against the cost of illness….Presently, over 60 percent of our older citizens purchase hospital and medical insurance without Government assistance. This private effort would cease if Government benefits were given to all our older citizens.

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Sen. Milward Simpson (R-WY).
08/08/1965 | Full Details | Law(s): Medicare

I have always maintained that if a program is to be successful, it must... be voluntary... based on need and must not be financed through a payroll tax.

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Sen. Thruston B. Morton (R-KY).
08/08/1965 | Full Details | Law(s): Medicare