Medicare: One of the Most Successful Programs for American Seniors

Medicare on the 49th anniversary of your becoming law; Happy Birthday.  President Johnson signed medical insurance coverage for seniors (65+) into law on July 30th, 1965. What would our aging parents, and soon us do if there wasn’t Medicare?  How do other countries care for their Elders?

Boomers are bombarded from every corner about Retirement planning, saving, insurance and everything else to do with having a satisfying post retirement. Medical spending and health issues are looming, how much more stressful would it be if Medicare wasn’t part of the financial planning equation?

George W. Bush expanded it into Part D for prescription medications coverage, and the closing of the “donut hole” in the next couple of years is part of the ACA.  My contemporaries are basing some of their retirement planning more on Medicare coverage as they can then plan on how to downsize working.

Working with the Greatest Generation of seniors, seeing how often they see their doctors, use medical equipment, tests, hospital & rehab stays, medications I can’t even imagine what they would do — or their grown sons & daughters if there wasn’t a medical insurance for them.

Please share your thoughts and ideas…. Happy Anniversary Medicare!

As Medicare approaches its 50th Golden Anniversary it still faces threats to its solvency and political points of view. Americans in their 50s and younger may face changes in coverage and eligibility as time goes on. Some folks think it is a wonderful system and would be great to be expanded to all Americans. Others see it as government interference.

Whatever your point of view is, Medicare, like any huge bureaucracy can likely improve with tweaking from time to time.  As Americans age and Boomers come into the system some adjustments are likely so it is important to keep informed over time so that you may plan properly for your medical coverage post retirement.