Medicare Is A Program Created By The Social Security Act Of 1965

1872 Words Oct 6th, 2014 8 Pages
Medicare is a program created by the Social Security Act of 1965. It is a federally run medical health insurance program aimed at medical coverage for senior citizens over 65 years of age. Over the years, the program has expanded to cover other beneficiaries such as individuals with disabilities and has also evolved to add prescription drug benefits. The program has been immensely successful in bringing health services to millions of senior citizens and individuals with disabilities. Despite this success, Medicare has faced a myriad of challenges most importantly budgetary projections that predict a rise in Medicare cost due to the “Baby Boomers” becoming eligible while having fewer workers per retiree to fund Medicare. The government has turned to managed care plans in cost saving measures and to bolster the quality and efficiency of their Medicare. While this summary might not exhaustively delve into the complicated web of Medicare but it will highlight what is looming in the horizon; the struggle to find new and innovative ways to finance Medicare for future generations without burdening beneficiaries or taxpayers.
The Social Security Act of 1965 under Title XVIII created the Medicare in 1965. (1) Medicare was established in response to the specific medical care needs of the senior citizens over the age of 65 years regardless of income or medical history and has expanded to include those with permanent disabilities and end-stage renal disease patients. Medicare is…

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