Brief History of Medicare
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Medicare was initiated in 1965 by the Social Security Act, under the aegis of the Social Security Administration, an agency falling under the purview of the Department of Health, Education, and Welfare. The Healthcare Financing Administration that was governed by the Department was created in the year 1977 for the purpose of effectively managing Medicare as well as Medicaid.
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Harry S. Truman was the first U.S. President who wanted health insurance for Americans and this insurance would be in the form of a prepaid plan. While addressing the Congress on November 19, 1945, President Truman shared details of what he had in mind -- an all-inclusive medical insurance that would be a prepaid plan and could be made available to everyone, through Social Security.
It was finally in 1965 that the H.R. 6675 was signed by President Lyndon B. Johnson, which was to ensure health insurance not just for the poor, but also for the aged. On a momentous day, 30 July 1965, President Johnson signed the bill for Medicare and Medicaid. The signing took place in the town of Independence in the state of Missouri.
The first Medicare card was handed over to former President Truman. This was truly a significant and important day in the history of healthcare in the US as it took nearly 20 years to implement Medicare.
With health coverage for all Americans, who more than 65 years, Medicare found many takers. In the very first year of its inception, nearly nineteen million people signed up for Medicare.
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