Why Do We Have Medicare?
15786 POINTSContact Meview profileBob VineyardPROFounder, Georgia Medicare Plans, Atlanta,GAWe have Medicare because President Johnson wanted a legacy similar to FDR. Prior to Medicare health insurance for those 65 and older was difficult to find and was pricey. Only a handful of companies wrote health insurance on seniors. Medicare made "universal" health care possible for those 65 and older. Premiums are heavily subsidized by active workers.Answered on April 10, 2014+11+1 this answer
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21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasIt was designed to allow everyone to chip in and help the elderly afford health care that they otherwise would not receive. It is unfortunate that so many of the retirees (there are about 10,000 seniors turning 65 every day) are unprepared for retirement, or are finding that an unexpected illness requiring long term care has eaten away at what was to have been their retirement fund. Without the safety net of Medicare, they would either have to do without, or receive what free care was available. ( And by free, I mean paid for by all the rest of us through higher hospital and doctor fees, because you know they aren't charities.) It is a sad truth that approximately 60% of worldwide bankruptcies are cause by medical emergencies. (Even with health insurance.) If you would like more information, please contact me, I'd be happy to give you more detail, Thanks for asking!Answered on April 10, 2014flag this answer
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