A U.S. federal government administered health insurance program for people 65 and older and certain younger people with disabilities.
Medicare was signed into law On July 30, 1965 by President Lyndon B. Johnson.
Medicare also covers people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD).
♦ Medicare isn’t part of the Health Insurance Marketplace.
If you have Medicare coverage you don’t have to make any changes. You’re considered covered under the health care law.
♦ Medicare is hated by many folks on the right. They view it as a form of welfare that must be eliminated.
The left views it as a right that everyone is entitled to.
• The fact is Medicare has been one of the most successful federal programs created.
♦ Medicare is far more efficient at handling medical claims than private insurance.
Administration costs for Medicare runs around 5% while private insurers run at around 12%. Add in profit and private insurers are much more expensive.