While there is a lot of information to digest about Medicare, breaking it down into smaller, bite-size pieces can help make for easier understanding. The program has undergone many changes over the years, including expanding eligibility to younger individuals with specific disabilities or diseases, providing supplemental insurance (Medigap), introducing Medicare-approved private health plans (Medicare Advantage), expanding coverage for prescription drugs, and expanding preventative services.Ĭurrently, Medicare coverage is available to people aged 65 and older and younger individuals with specific disabilities or covered conditions. Initially, the program offered hospital and medical insurance but has evolved to include other benefits. ![]() Medicare was enacted in 1965 to provide older adults in the United States with affordable health insurance. had hospital insurance.Īdditionally, private insurance companies could terminate health policies for individuals they deemed high risk – leaving ill and older adults even more vulnerable. In 1963, shortly before Medicare was established, only about half of the older adult population in the U.S. These costs generally increase with age and are typically associated with decreased income. History and Evolution of Medicareīefore Medicare, adults often had inadequate protection against healthcare costs. Whether you’re embarking on your own Medicare journey or seeking to expand your knowledge on behalf of a loved one in need, here is the preparation you’ll need to help climb the mountain of better Medicare understanding. Add to that the seemingly endless policy choices, possibilities, and changes to the healthcare system, it can feel like trying to scale an enormous mountain without a map.įor those reaching their golden years (or facing certain medical conditions before retirement), navigating the path to finding and securing the best possible coverage isn’t just an option – it’s a necessity. Aging can bring a more poignant focus on the vulnerability we inevitably face when we require doctor’s visits or hospitalization. ![]() ![]() Navigating healthcare in retirement can often feel daunting, especially when it comes to your personal health and the health of your loved ones.
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